Originally Posted by
nivosum
A lot of people don't realize that no income tax states have high real estate taxes. So a lot depends on your income and the value of your house/property whether you will benefit from moving to a no income tax state.
Not always. When we moved from Minnesota to Nevada, we lost the income tax (8.5%), our property taxes went down by roughly half on properties valued about the same, and our sales tax was the same at 6.5%. Sales taxes have since gone up slightly in both states but are still about the same.
The gasoline taxes and auto registration fees are higher in Nevada, but that is nowhere near making up for the state income taxes or property taxes. Property taxes are also capped in Nevada, so they can only raise them by a small amount, not big double-digit increases, and any new taxes need a 2/3 supermajority in the legislature, so taxes tend to remain stable.
The weather is way better here in western Nevada (no, I wouldn't live in Las Vegas, too hot), so energy costs are a lot lower on an annualized basis as well compared to Minnesota.