Which state has the lowest insurance?

Discussion in 'Ask An Owner Operator' started by georgio_93, Jun 4, 2009.

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  1. georgio_93

    georgio_93 Bobtail Member

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    Which state has the lowest insurance and registration? Is it best just just have your main residence in a non-income tax state?
     
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  3. georgio_93

    georgio_93 Bobtail Member

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    And what are the best trucker routes in terms of geographical location. I heard Texas was best and that the Northeast was chaotic and lead to many deadheads. What say you?
     
  4. dancnoone

    dancnoone "Village Idiot"

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    Many people enjoy the "no income tax" states. Until it comes time to pay their property taxes.

    I live in a state with income tax.

    My cigarettes are 3.80 a pack here. They' 6.47 in TX

    When I turn 65, I will no longer have to pay property taxes on my "homestead", Which can be up to 128 acres plus my home, barn, ponds, stables, etc. My current property taxes are $400, city and county. The last city assessment was $90k value on my property.

    Meanwhile, many Texans can barely pay their property taxes....now.

    Insurance is more dependant on the city/rural setting you live in. And registration can be affected by city, county, state combined.
     
  5. georgio_93

    georgio_93 Bobtail Member

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    I have to agree with you 100% on that note BUT I know of some truckers that don't have a family and live in their expensive Truck. For these people I would think living in a non-income tax state is best.

    Secondly, I think it is better to have a high property tax than a high income tax. Not only is it better for the economy "because you have more cash and are willing to spend more" but you can't deduct the state income tax off of your adjusted gross income as opposed to property tax where you can deduct the full amount from your salary, lowering your taxable income AND possibly lowering your tax rate on that income.


    I live in CA so every state aside from the Northeastern states looks attractive. I grew up in CA and I can't wait to leave. I have the ability to move to any state right now for my CDL but want to pick one with the least taxes possible and the most work available. In truth it doesn't matter how low your taxes are if you can't get a job.

    I was thinking of Idaho, people consider it a "Red" state but tax wise it seems to be like a blue state. They have the same property tax % as CA # 1.25% and a 7% state income tax on 25k!! That means average income earners pay more than CA. And they have a state sales tax on food and medication!! And they have that same community property BS. They may be socially conservative but they sure as hell aren't fiscally conservative. Monatana is much the same.

    Can anybody suggest a good state for me? One person said Texas for truckers or just about any occupation because of the tax issue and low price of homes. I do prefer a colder climate though and more favorable demographics. Are there any others?
     
  6. dancnoone

    dancnoone "Village Idiot"

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    Comparing apples to apples. Idaho looks the same as CA to me.

    We have a "floating" income tax. 5% on the first 10k, 4% on the next 5K, and 3% on the remainder. Sales taxes are deductable (state)...but you better keep immaculate records.

    We have a 7% sales tax. Which is reduced for purchasing a car, to 3%.

    Property taxes ??? That $400 is city and county combined. Which means my property tax prior to retirement age, is slightly under 1/2 (.5) percent.

    Our sales tax applies to our food purchases also. But, our food bills are considerably cheaper. Milk still sells for less than $2.75 a gallon here. A dozen eggs, $1.25. Chicken is .79 a pound. 3 lbs of bacon, $5 The list goes on and on.

    A good piece of land (1 full acre), can be purchased for under $2000. Good meaning, it has trees, real grass, and access to all city services.

    If the woods are your thing. you can buy property in under developed areas, for as cheap as $500 an acre. Under developed meaning. You will have to drill your own water well and have a propane tank installed, if you want gas heat.

    OH...and best of all. We have NO environmental impact study requirements...prior to, or after building a new home. :D Building actually starts within 7-10 days of permit filing. No permits needed for county constructions outside the city limits. However, there will need to be an inspection of the septic system.... $50.
     
  7. georgio_93

    georgio_93 Bobtail Member

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    Well there is no camparison on the property tax front. Mississippi is one of the most attractive states, so is West Virginia I believe for property tax. The food is cheap too, Thanks for the info. I will definately look into that state. I just found a website if you google "Taxes by state" it gives the rundown on every state and what it charges. Pretty decent info.
     
  8. SKTBRD

    SKTBRD Bobtail Member

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    Most states in including mine, New Hampshire, you have to be a resident to register and insure your truck and need to prove it with 3 different methods.

    I'm not sure if your original question was to find the lowest price state and plate without moving there.
     
  9. georgio_93

    georgio_93 Bobtail Member

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    Well I'm from SoCal and when I was researching the Sage school in Coeur D'Alene, ID the director told me that if I wanted to get licensed in Washington it would mean just testing in Spokane for the written and driving test even though the school and training would be in Idaho. I would need to transfer my CA drivers license for a WA one first before attending the school. Washington is really easy, just rent for a month or two and get a utility bill or the rental agreement itself, pay $45 bucks and they make you a WA drivers license. They don't make you even retest the written exam or the drivers exam. Just have to pass vision. Then they invalidate my CA one.

    BTW, I'm a long ways from ever becoming an O/O but I like to do my due diligence in research before I make any moves. I am looking to acquire a CDL license and see what types of jobs I can acquire. I am coming from the mortgage industry and while I had a awesome run until late 2007, it is no longer an occupation that is lucrative. Btw, every trucker should have a good chunk of his/her money in the Vanguard Energy ETF/Mutual Fund. Everytime Obama talks about his spending, the more speculators drive up the price of oil because of fears of inflation. Oil is going to hit 100 bucks/barrel for sure by years end and truckers are gonna get hit hard unless they hedge themselves with gold stock/oil stocks. Hint Hint... when gas becomes too expensive to be profitable sell the stocks for fuel which will in turn help your stocks out because you are purchasing what you own! But I digress.

    I love New Hampshire as a place to visit. I would never buy property there though. Jobs are scarce and property taxes are 5-14k for middle class to upper middle class homes! Once you buy you are locked into it. It is extremely hard to liquidate your home because of the jobs issue and the high property taxes. Its basically a state where the the Boston peeps vacation to and buy goods along the southern part of the state so they don't have to pay sales tax. From Manchester down it is just an extension of Mass.
     
  10. M.Enterprises

    M.Enterprises Medium Load Member

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    One person said Texas for truckers or just about any occupation because of the tax issue and low price of homes. I do prefer a colder climate though and more favorable demographics.

    What are more favorable demographics?

    And...wasn't this about insurance rates? I see nothing about insurance rates in this thread. Only taxes.

    DanC...where do you live?
     
  11. georgio_93

    georgio_93 Bobtail Member

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    It started off as a thread about insurance but turned into something else. Refer to my first post if you have any knowlegable input regarding the subject matter.
     
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