Leaving New York City

[DooDiligence]

5 hours ago, 73 Reds said:

Even as a FL resident and property owner, I'd shy away from eliminating property taxes in this State.  OTOH, consider who would vote for more property taxes in NYC.  Either the vote should come only from property owners - the people directly affected, or bring back polling tests.   Hate to think what NYC may look like at the end of this mayor's tenure and am glad I have no interests there whatsoever.

 

Completely agree. Populists nonsense. Local funding will come from, where? We already have the recently passed Annual Inflation Adjustment to Homestead Exemption Value and the Save Our Homes Portability Benefit, which has been around for more than 20 years.

 

.

Edited February 18 by DooDiligence

[Marco Van Basten]

3 hours ago, Gregmal said:

Florida looking at eliminating property taxes. Dipshit in NYC wants to hike them 10% lmfao. The gift that keeps on giving….

Actually that is not correct.  Property taxes go up every year in NYC, what Mamdani wants to do is to hike them by 10% more than they would normally go up by.  

[Gregmal]

Don’t worry, our boys are on it. 
 

[longlake95]

That's awesome.

[73 Reds]

42 minutes ago, Gregmal said:

Don’t worry, our boys are on it. 
 

Silly me. thought that sign was describing NYC water when the money runs out.

[Gregmal]

This arrogant ho Kathy Hochul

 

How it started:

 

“Trump and Zeldin and Molinaro – just jump on a bus and head down to Florida where you belong. OK? Get out of town. Because you don’t represent our values,” Hochul said at the time.

 

 

How its going:

 

“Maybe the first step should be go down to Palm Beach and see who we can bring back home because our tax base has been eroded,”

 

“I have to look at the fact that we are in competition with other states who have less of a tax burden on their corporations and their individuals,” she said.

 

Man I love NY!

 

[cubsfan]

2 hours ago, Gregmal said:

This arrogant ho Kathy Hochul

 

How it started:

 

“Trump and Zeldin and Molinaro – just jump on a bus and head down to Florida where you belong. OK? Get out of town. Because you don’t represent our values,” Hochul said at the time.

 

 

How its going:

 

“Maybe the first step should be go down to Palm Beach and see who we can bring back home because our tax base has been eroded,”

 

“I have to look at the fact that we are in competition with other states who have less of a tax burden on their corporations and their individuals,” she said.

 

Man I love NY!

 

 

First step - recognize you have a problem.

 

Not sure she'll ever make it to the second step.

[flesh]

Prediction. They will try to make a federal law that prohibits/penalizes this “tax evasion” that is moving to another state. Also I’m afraid they’ll have the fed govt bail out their states as well…. When possible/necessary. 

[John Hjorth]

2 hours ago, Gregmal said:

 ... Man I love NY! ...

 

I serously doubt that!  - But how are you about NJ? [Really, sincerely meant here! - Do you intend to stay a migatory bird with your family? [Joe Land <-> NJ] ?

[cubsfan]

24 minutes ago, flesh said:

Prediction. They will try to make a federal law that prohibits/penalizes this “tax evasion” that is moving to another state. Also I’m afraid they’ll have the fed govt bail out their states as well…. When possible/necessary. 

 

No THAT is interesting and it sucks.

 

They sure as hell better not have the Feds bail these states out.  They did it during COVID for ILL and they never change anyway.

[cubsfan]

3 hours ago, Gregmal said:

This arrogant ho Kathy Hochul

 

How it started:

 

“Trump and Zeldin and Molinaro – just jump on a bus and head down to Florida where you belong. OK? Get out of town. Because you don’t represent our values,” Hochul said at the time.

 

 

How its going:

 

“Maybe the first step should be go down to Palm Beach and see who we can bring back home because our tax base has been eroded,”

 

“I have to look at the fact that we are in competition with other states who have less of a tax burden on their corporations and their individuals,” she said.

 

Man I love NY!

 

 

Almost as bad as MN!

 

 

[Gregmal]

1 hour ago, John Hjorth said:

 

I serously doubt that!  - But how are you about NJ? [Really, sincerely meant here! - Do you intend to stay a migatory bird with your family? [Joe Land <-> NJ] ?

Totally. NJ is amazing. I loved it minus the egregious taxes, winter weather, and overall trend of degrading the education system and undermining of law enforcement. 
 

But it’s a totally different and better animal than NY; which is why so many of its residents are actually high earners who work in the city but value raising their family somewhere safe(safer I guess is the better term). Best part is, if you value any aspect of NYC, and there are definitely great aspects of the city, it’s a 60 minute drive/uber. Same for the beaches, mountains of the Poconos, etc. 

 

All that said living where I do now, is 100x better! As is being able to go back to NJ without it’s issues being my problem anymore.

[cubsfan]

4 minutes ago, Gregmal said:

All that said living where I do now, is 100x better! As is being able to go back to NJ without it’s issues being my problem anymore.

 

Now that's what I wanted to hear!

 

@John Hjorth --- see you at JOE one of these days!

 

[John Hjorth]

17 minutes ago, Gregmal said:

Totally. NJ is amazing. I loved it minus the egregious taxes, winter weather, and overall trend of degrading the education system and undermining of law enforcement. 
 

But it’s a totally different and better animal than NY; which is why so many of its residents are actually high earners who work in the city but value raising their family somewhere safe(safer I guess is the better term). Best part is, if you value any aspect of NYC, and there are definitely great aspects of the city, it’s a 60 minute drive/uber. Same for the beaches, mountains of the Poconos, etc. 

 

All that said living where I do now, is 100x better! As is being able to go back to NJ without it’s issues being my problem anymore.

 

11 minutes ago, cubsfan said:

Now that's what I wanted to hear!

 

@John Hjorth --- see you at JOE one of these days!

 

Greg [ @Gregmal ],

 

Very nice to read that you've found a format, setup for the family, that works for you and the family!

 

Do you intennd to hold to your NJ residential real estate, or are you considering moving your equity in that south bound? lol!

 

I perceive you are a guy who simply can't just sit in the club in Joe Land with Marguritas having a good time!

 

I personally woulden't be surprised at all reading one day about that you've already been up to something in Joe Land, perhaps even with Jorge! lol!

 

- - - o 0 o - - -

 

I like very much to read about such stuff here on CofB&F! -I learn a lot about America from it!

 

- - - o 0 o - - -

 

Mike [ @cubsfan ],

 

It's just - by now - totally out the question to leave Denmark and the Danish healthcare system, to go on a vacation, or what ever.

 

But I certainly haven't given up on that.

 

The moment one may do that [give up], sitting in your favorite chair, suffering fron self-pitty, you're in fact already dead!

[Gregmal]

Man! What a start to the week! 
 

After groveling like schnooks about largely fabricated “rapist Trump” stuff cuz someone said something 2/3/4 decades ago…Californians would’ve willingly voted for some assclown whom was apparently raping women….a couple months ago? No wonder you can’t take anything out of California serious. I know! I know! How could they have known? It would’ve been impossible to tell given how they’re always so obsessed with anything and everything Donald Trump!
 

But then! Kathy Hochul rushes in, trying to support Mamdamis disaster in progress, and decides she wants to push for taxes on second homes! 

 

It really is a pleasure watching these idiots destroy themselves.

Edited April 15 by Gregmal

[Jay Rent]

https://www.cnn.com/2026/05/07/business/zohran-mamdani-ken-griffin-taxes

 

Not sure how much NYC property tax rates have been discussed in this thread.   I never followed before or knew it was based on rental rates and not market value.

 

Interesting quotes,  if you take the Mamdani politics (or any politics) out of the equation most of the quotes are from right leaning organizations.

[Marco Van Basten]

48 minutes ago, Jay Rent said:

https://www.cnn.com/2026/05/07/business/zohran-mamdani-ken-griffin-taxes

 

Not sure how much NYC property tax rates have been discussed in this thread.   I never followed before or knew it was based on rental rates and not market value.

 

Interesting quotes,  if you take the Mamdani politics (or any politics) out of the equation most of the quotes are from right leaning organizations.

I don't know how familiar you are with what is going on in NYC.  In case that you are not, here is a tidbit: my wife and I pay 60% of our income in taxes (that's the sum of NYC+NYS+Federal + Social Security + Medicare + sales tax + property tax + various excise taxes - do you know that more than 20% of my UBER bill goes to taxes?).  Now, this figure is even larger for those who have their own businesses due to a 5% city tax on unincorporated business and MTCMT (although if you have partners, you can try to use PTET to offset some of it, however I expect the PTET gains to be clawed by back the city and state starting in 2027 as Mamdani proposed.)  Keep in mind, that my wife and are NOT in the top tax bracket in NYS.    For those, the figures are even higher.  Yes, there is an exodus of high income taxpayers out of NYC, you can see it in the statistics.  It just takes time as people wait for kids to finish school for instance.  My former boss is moving his 170 person company out of NYC to Florida later this year, as his youngest graduates from high school and he and his wife move to Florida.   This is not an isolated case.  I know several other people who run consulting/finance businesses that are waiting for kids to graduate to move out of the city and take their businesses with them to Florida.   

[whatstheofficerproblem]

Leaving L.A. anyone? I just can't live here. The policy and everything are absolute shit, taxes are daylight robbery esp. capital gains. Can't ever buy a house and plant some roots. There are way too many cons and too little pros. I pay all this money in tax as a non-citizen and what do I get? Get treated like a second class human being, wait 70 more years for a green card? I don't know anymore.

[whiskybravo]

44 minutes ago, Marco Van Basten said:

I don't know how familiar you are with what is going on in NYC.  In case that you are not, here is a tidbit: my wife and I pay 60% of our income in taxes (that's the sum of NYC+NYS+Federal + Social Security + Medicare + sales tax + property tax + various excise taxes - do you know that more than 20% of my UBER bill goes to taxes?).  Now, this figure is even larger for those who have their own businesses due to a 5% city tax on unincorporated business and MTCMT (although if you have partners, you can try to use PTET to offset some of it, however I expect the PTET gains to be clawed by back the city and state starting in 2027 as Mamdani proposed.)  Keep in mind, that my wife and are NOT in the top tax bracket in NYS.    For those, the figures are even higher.  Yes, there is an exodus of high income taxpayers out of NYC, you can see it in the statistics.  It just takes time as people wait for kids to finish school for instance.  My former boss is moving his 170 person company out of NYC to Florida later this year, as his youngest graduates from high school and he and his wife move to Florida.   This is not an isolated case.  I know several other people who run consulting/finance businesses that are waiting for kids to graduate to move out of the city and take their businesses with them to Florida.   

 

I live in NYC.  My math is different.  My income is dominated by qualified dividends and a smidgen of long term capital gains. The sum of my federal, state, and city is 24.7%.  No paycheck, so no social security or Medicare payroll tax.  I don’t look at property tax as a percentage of income, but rather a percentage of net worth (0.1%). Sales tax has always been here.  8.25% when I moved here 42 years ago, 8.875% now.

[Marco Van Basten]

33 minutes ago, whiskybravo said:

 

I live in NYC.  My math is different.  My income is dominated by qualified dividends and a smidgen of long term capital gains. The sum of my federal, state, and city is 24.7%.  No paycheck, so no social security or Medicare payroll tax.  I don’t look at property tax as a percentage of income, but rather a percentage of net worth (0.1%). Sales tax has always been here.  8.25% when I moved here 42 years ago, 8.875% now.

Your argument about sales tax is disingenuous, sales tax may have been there for a long time, although it was 8% in 1980, but you did not have city income tax 60 years ago.   More importantly, it along with excise taxes (telephone, etc...) takes a huge bite out one's cashflow, even if you choose not to count it.   Your tax rate only applies if somebody is not working, and his income is less than $200K per annum.  Starting at $200K, marginal tax rate in NYC on qualified dividends exceeds 29%.  (15% Federal + 3.8% Medicare surcharge + 3.8% city and 6.6% state) Top tax rate on qualified dividends in NYC is almost 39% (23.8% Federal + Medicare) + NYC (3.8%) + NY (10.9%).  

I am glad that you are happy with your tax situation, I am not and hence I am moving and so are many people in top tax brackets.  

[hasilp89]

20 minutes ago, Marco Van Basten said:

hence I am moving

Where are you moving?!?

[73 Reds]

27 minutes ago, Marco Van Basten said:

Your argument about sales tax is disingenuous, sales tax may have been there for a long time, although it was 8% in 1980, but you did not have city income tax 60 years ago.   More importantly, it along with excise taxes (telephone, etc...) takes a huge bite out one's cashflow, even if you choose not to count it.   Your tax rate only applies if somebody is not working, and his income is less than $200K per annum.  Starting at $200K, marginal tax rate in NYC on qualified dividends exceeds 29%.  (15% Federal + 3.8% Medicare surcharge + 3.8% city and 6.6% state) Top tax rate on qualified dividends in NYC is almost 39% (23.8% Federal + Medicare) + NYC (3.8%) + NY (10.9%).  

I am glad that you are happy with your tax situation, I am not and hence I am moving and so are many people in top tax brackets.  

Yeah, how does one live in NYC on less than $200k income?

[Marco Van Basten]

22 minutes ago, 73 Reds said:

Yeah, how does one live in NYC on less than $200k income?

He seems to own his own place, which helps, also if you don't live in a nice neighborhood (no Park Slope, Brooklyn Heights, most of Manhattan, chunk of Queens and Bronx) or in a very small apartment, it is doable, particularly since his kids are probably adults.  

[Mephistopheles]

I just moved out of NYC as well. Obscene rents and taxes, and it got tiring walking out on filth covered streets. Homeless everywhere.
 

Pipe dream:  the exodus continues and we have a 70s/80s style collapse in the city and I can buy a solid condo/brownstone. Also should be a net positive for JOE.
 

I’m all for Mamdumbass

Edited May 7 by Mephistopheles

[crs223]

On 5/7/2025 at 4:29 PM, whatstheofficerproblem said:

It should also be noted that moving becomes an even bigger hurdle as you age. At 60 they simply can't just start from scratch in a totally different state. I'm in my early twenties and even I find it a pain to relocate just miles away when a lease ends.

 

I think the real problem with moving at 60 is that you lose your friends.  Maybe if you use the Metaverse or thecobf.com this is not a big deal.