So 75,386 (taxpayers and dependents) moved from IL to FL and their average income was $135K.
That seems to imply that they all took their high paying jobs with them somehow.
So 75,386 (taxpayers and dependents) moved from IL to FL and their average income was $135K.
That seems to imply that they all took their high paying jobs with them somehow.
Illinois has a flat income tax; at $135k income you would only be beat by the states that have no income tax (like Florida). Most of the states on that list also have weather that is either terrible in the summer or terrible in the winter, so I doubt that weather is really a factor in people moving.
Also, there is actually a pretty strong correlation between shoveling snow and heart attacks in older folks: https://www.health.harvard.edu/blog/can-shoveling-snow-put-y... . So it definitely makes sense to relocate if that is a factor.
Cook county has just over a 2% per year property tax.
https://www.cookcountyclerk.com/sites/default/files/pdfs/201...
> On average, the 2018 property tax bill for a home with a market value of $200,000 would be: * City of Chicago: $3272 * North and Northwest Suburbs (Cook County): $4741 * South and West Suburbs (Cook County): $6268 * Dupage County Suburbs: $4556
My sister used to live out in Kane County and her house, which she sold for about 33% less than my downtown condo is worth, was almost double my property taxes. Nearly 1.5 hours driving from downtown!
Same situation with NJ and CT and KY.
If I was investing the next 5+ years of my life somewhere, I would check the reports below:
https://www.truthinaccounting.org/news/detail/financial-stat...
https://www.truthinaccounting.org/news/detail/2019-financial...
That said, anecdotally, I do know a fair number of people who have left California and essentially no one who has moved there absent a work-related reason to live there. The state has things going for it but also a lot of negatives--especially CoL in a lot of places.
Edit for additional context, RxBar had no outside funding or venture capital, so that $600m went to the founders and maybe other early employees. https://www.inc.com/robbie-abed/this-chicago-startup-sold-it...