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Feeling taxed? Don’t worry, be happy:~)


Well you’re not alone! The national average of property tax here in the
United States is 2.7% of the value. This includes ALL property types(as
land is taxed customarily at a higher rate). For ALL countries in the
OECD the United States pays above average taxes. Our English friends are
taxed the most at 4.2%.

As a State average for home property taxes we in Illinois are in the top
10 along with Midwestern neighbors in Michigan and Wisconsin. We could
move to Hawaii for the lowest in the U.S. but the property values are
some of the highest! Oh but the weather, ocean, mountains…NICE! How
about the double whammy move where both property values and taxes are
some of the highest like New Jersey or Connecticut? Many of my clients,
friends and family members have said that they want to move out of
Illinois because of high taxes and financial mismanagement. Some of them
just want to move! They mention States where the property values are
higher with a lower property tax rate( ie same yearly tax amount). They
mention warmer weather as much as lower taxes. They mention mountains,
the beach, etc as well as taxes. And none of this is new! Illinois folks
have been moving for decades to warmer climates(Arizona, Florida,
Tennessee, the Carolinas and more by the droves). And a there has been a
recent migration to Colorado for many natural reasons too.

You will find that more than half of our States are experiencing
financial woes and this is in constant flux and has been since the
1950’s. If we move there when financially good, we might still be there
when financially bad. Then what, another move? Why not pick a spot that
hits most of your wish list with taxes at the bottom of that list? Just
be happy. For example Hawaii, Utah, Minnesota, North Dakota and
California are tops in happiness and Arkansas, West Virginia, Oklahoma,
Alaska and Louisiana round out the bottom of the scale. From the report
recently put out by WalletHub’s 2018 annual “Happiest States in America”
survey; the common denominators are NATURE and COMMUNITY. Look, you can
be happy pretty much anywhere. One of my favorite mantras is “Bloom where
you are Planted.” Don¹t make taxes the deciding factor. You’ll end up
living a taxed lifestyle instead of a lifestyle of YOU.


Questions? Contact Team Fallico

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