Relocation and Salary
I recently moved from a town where my property taxes were over $8000.00 a year to a town 40 minutes away where the taxes were cut in half! The school tax is a big part of that, and when you are looking to move look into the plans they have to build or expand the current schools as this can signal an increase in taxes.
There's much to consider in terms of relocation and salary. As we all know your same job may pay more or less in different areas of the world and this salary is gauged mainly on cost of living. But simply comparing the cost of housing in 2 areas may not be enough for you to figure out if you are getting a comparable salary when you move.
Your relocation and salary calculations should take into consideration some other aspects of your new home and area costs. One thing to consider is the insurance rates - these can differ severely even within different towns in the same state.
In addition to property tax, your relocation and salary considerations should include the state and local income taxes as well as sales tax. All these items can add quite a bit to your budget so if you are taking a big pay cut to relocate you must consider these.
Your other monthly and yearly costs can be affected as well. Consider the car insurance and registration fees for your new town and compare them to what you currently pay. Is your home insurance more because you are in a flood, hurricane or tornado area? What about the utility bills such as lights, heat and cooling? Not to mention grocery bills and the cost of day care, hairdressers and general goods. It pays to shop around before you move to see just how your relocation will affect your salary and pocket book.
If you are moving to a different climate, there may be other relocation and salary considerations that you might not be aware of. If you are moving from a mild climate to a cold on, you'll need to consider the extra costs of heating plus snow removal and the extra purchase of snow tires, snow blowers and winter gear. If you are moving from a cold climate to one that is warm year round you may have extra costs such as pest control, year round landscaping and even pool costs that you aren't used to.
Relocation and salary considerations go beyond the actual salary increase or decrease. There's plenty to consider and it pays to actually spend some time in the area, shopping, getting a feel for the restaurants and food prices and seeing if you like it there in general before you make the big move!