🚀 go-pugleaf

While everyone talks about how much higher taxes are in the
District, the reality is that when you consider ALL the
taxes, DC residents don't pay that much more.  Check out the
following article, and try to read past the headline.  The
entire article can be found (for a small fee) by searching
the archive at the Post's web site.

=====================================================

Taxes Highest In District, Survey Finds
Montgomery, Prince William Are Close Behind in Ranking

 By Judith Evans  Washington Post Staff Writer  Saturday,
October 26, 1996 ; Page E01

Homeowners who live in the District of Columbia pay higher
overall taxes than those in suburban communities in Maryland
and Virginia, but not substantially more, according to a
recent survey by a local accounting firm.

The survey, conducted by the accounting firm Ross, Langan &
McKendree in McLean, compared the cost of homeownership in
the District and nine suburban counties in Maryland and
Virginia by examining sales, personal property, real estate
and state and federal income taxes.

The analysis was based on a married couple with two
children, with a combined income of $100,000, each with
$2,000 in total interest income and capital gains. The
hypothetical couple owns a home valued at $285,000, which
has a $228,000 mortgage with a 10 percent interest rate.
They own two cars valued at $24,000.

Based on these assumptions, a District homeowner would pay a
total of $23,775 in annual taxes, driven largely by higher
city income and local sales taxes. The city was first even
though it permits an exclusion of $30,000 of assessed value
for owner-occupied homes.

Montgomery County homeowners were a close second with an
overall tax bill of $23,626, based on the highest real
estate tax rate of $3.646 per $100 of assessed value. The
county has 58 different real estate tax rates depending on
the community.

Homeownership in Virginia is generally less costly, but
among the jurisdictions surveyed, Prince William County
residents have the third highest tax load at $23,513, based
on a real estate tax rate of $1.7083.

It was followed by Prince George's County at $23,481; Prince
William, with a lower real estate tax rate, at $22,788;
Montgomery, with a lower rate, at $22,786; Fairfax County,
at a higher tax rate, totaling $22,746; Fairfax, at a lower
rate, at $22,674; Alexandria, $22,467; Loudoun County, at
$22,225; Arlington County, at $22,222; and Fairfax City, at
$22,050.

[rest of article snipped]

So, notice that the taxes that this hypothetical but
thoroughly average family would pay would vary by only about
$2,000 out of over $20,000 in the DC region.  Not very much
to pay for living where you want to live, instead of trying
to minimize your taxes by living somewhere that people just
THINK has lower taxes.  Live where ever you want to, but
make your choice based on an accurate, unbiased assesment of
the costs, not just on what headline, politicians, or the
"if I live here it must be the best" crowd tell you.



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