Home Buying in Danville>Question Details

Dan Chase, Home Buyer in Texas City, TX

When it comes to taxes, fees, and other costs the government charges to live is it better to live in virginia or just across the border in N.C.?

Asked by Dan Chase, Texas City, TX Fri Sep 11, 2009

Since I want to live outside the city 10-15 miles is not much change. Sales tax, personal property tax, property taxes, car registration, and so on could make a lot of difference financially over the years to come. Is one state cheaper than the other when it comes to taxes and fees?

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Dan~~ Another agent answered that property taxes are higher in Virginia. That may be true if you are in Northern Virginia. I lived in Woodbridge, Va, and then moved to Danville. My current taxes (at a .68 per $100 assessed value) on my 4000 sqft home on 12 acres with another house on the land is less than $1200 per year. That's 10 tax free months/year compared with Woodbridge at 1989 figures~~ can't imagine WHAT tax rates up there are now! Danville never had the high rates of appreciation that cities north had, average sale here is still not too far above $100,000. So acquisition costs, recordation costs and property tax costs are very reasonable here!
0 votes Thank Flag Link Tue May 17, 2011
It will depend on your situation. I have owned in both VA and NC and I can tell you that the tax structure is very different. In NC, you will be able to get into your house with fewer taxes and in most cases the property taxes are lower. The flip side of this is that income taxes are generally lower in VA. So you really need to take a comprehensive look not just at your home, but your income and the upfront closing costs.
0 votes Thank Flag Link Tue May 17, 2011
Tax rates differ by locality, but: As I understand it, Virginia local tax rates beat our neighboring town/counties hands down. Also, we have some growth going on.... when the White Mill comes online, that's big; Brosville Center, growth all along Piedmont Drive, the Rt 41 corridor and Rt 29 at Blairs all have tremendous potential... the light you see is the end of the tunnel, NOT the locomotive coming at us!
0 votes Thank Flag Link Tue May 17, 2011
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