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Work in Charlotte, Live in SC

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Long Island, NY
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Work in Charlotte, Live in SC

All, what are the tax benefits (or consequences) of working in Charlotte (or North Carolina), but living in South Carolina (either York or Lancaster counties). I am on my fact finding trip from Long Island, NY (Massapequa Park), and we are looking at a property in Tega Cay so far. Thanks in adavance.

southcarolina
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1. Re: Work in Charlotte, Live in SC

Hello Red Jed-not going to be of to much help to you as we live and work in SC...but I know that there are many, many people from this area that do work in Charlotte. The little I have picked up from others is that taxes are more in NC, and I have also heard several complaints on when a family lives in SC, yet one spouse works in NC while the other works in SC (it seems to cause a few headaches....but it must not be to bad as people keep on coming out this way :o) If you need any tips on Tega Cay just let me know and whatever you decide I wish you the best of luck!

Long Island, NY
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2. Re: Work in Charlotte, Live in SC

Lovetegacaysc, Thanks for the info.

Finished my 1st trip to the Charlotte area and came away looking at 2 areas, Tega Cay and the Waxhaw-Weddington area. Are the taxes high in TC? They look to be about twice as high as Waxhaw. They would be about 70% of the $7K I pay now on a new $350K house I would build in TC (if I figured them right). This might steer me to Waxhaw rather than TC, although I like the intangibles (lake area living) of TC. Waxhaw is nice too, rural, but good developments. I hear a lot of LIers moved into the Waxhaw area. Also, it seems that getting a flat lot seems to be an issue in both locales. Any issues living so close to a nuclear power plant? Thanks again.

Ohio
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3. Re: Work in Charlotte, Live in SC

Looking forward to following this thread Red Jed, as we are VERY interested in the Tega Cay area too. We are heading down in a couple of weeks and I'd LOVE to hear your take on the area as you've already been there! Husband and I are nearing "empty nest" within a year and are looking to either relocate then or retire later, somewhere other than ( brrrr! ) Ohio. We will be spending a couple of days in the Charlotte area and going only to "explore" so ANY advice would be appreciated...

Although the regulars at this site have been INVALUABLE (thank you, thank you, thank you! ) with their advice, any "first time impressions" you'd like to pass along?

Princess

florida
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4. Re: Work in Charlotte, Live in SC

We once lived in massapequa park.Charlotte is great and attracting many New Yorkers,especially from LOng IslandWe just moved to Waxhaw and love it.Taxes low,great schools,Upscale area.Let me know if you need more advice from fellow Long Islander

Long Island, NY
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5. Re: Work in Charlotte, Live in SC

Princess,

Sorry for the long post in advance, but I want to get as much info out, because I am interested in getting as much info back from others. I agree, others input has been invaluable.

The best advice I can give is to work with a buyer’s agent. As a buyer, it will not affect the price you pay for a house. As my agent explained to me, his end comes from splitting the commission with the builder or the builder’s agent – the builder or their agent just winds up with less money than they otherwise would have gotten. Avoid regular realtors because they’ll represent the “other” side as well, and may only be interested in steering you to the biggest commission that they can get.

Also, since your agent is working for you, they will be looking out for your best interests. They will/should have a good knowledge of “good” and “bad” areas (example – you may not want to buy a band new house that is near a run down trailer park that you might not see from the main entrance). Also, if they have dealt with several builders, they may be able to negotiate better terms or get the builder to throw in some free extras. Working with an agent saved us time from getting lost to avoiding the “bad” areas. If you would like the name of the agent we used, please let me know.

My situation is a little different from yours, we have 2 young children, one who will enter first grade next year when we expect to make the move, but I’ll gladly share my impressions. We are looking to build new, so my impressions are all on new developments, not existing homes.

We spent one day (Sunday, 12 hours with 2 kids) driving down from LI to our hotel in Pineville (Quality Suites – not bad for the $). Monday we went to Paramount’s Carowinds amusement park to give the kids a break. Tuesday we went to work with our agent exploring areas south of Charlotte. We told our agent our price point (around $350K) and our time frame (move in next summer) some weeks ago, and he lined up some areas and builders for us to visit that fit that criteria.

The areas of Waxhaw and Weddington were very nice. These areas were rural, in a good way, with good shopping centers near by the main developments. Traffic was not bad at all on the mostly 2 lane roads – good for motorcycle riding. Roads to Charlotte widen in Mecklenburg County and pass through many upscale areas on the way. You could be in Charlotte in about half an hour with no traffic. Taxes seemed to be very low (by LI standards) with Centex quoting us about $0.66/$100 of assessed value. Plots in the developments were a mix of flat to ones that basically dropped off or sloped up directly behind the house. Lots were about 85x140 or so with most cleared of almost all trees. Home Owner Association dues are about $400 at the developments we visited.

Tega Cay was very nice as well, with the area much like the residential areas on LI without the crazy traffic. As a whole, Tega Cay is more of an upscale area (not meant as a slight to the Waxhaw/Weddington areas). The rural areas are more outside the peninsula of Tega Cay. As I have read, most homes in the area have been built since the 1970’s. The houses are in dispersed with a golf course that you can choose to join or not, but is still available to residents. The same goes for the pool/beach club. There are no HOA dues. The taxes seemed high as I have said, with DR Horton quoting us about $1.31/$100 of assed value (based upon a formula and special millage multiplier). I don’t know if I figured them correctly. I used the estimated market value of the house we looked at. I don’t know if they have a special way of determining “fair market value”. Can't beat the price of gas in SC though, at $2.12 per gallon for regular, it is 10 cents cheaper that in NC (less taxes), and 30 cents cheaper that it is on LI. Commute looks to be easier that the north side, with lots of alternatives into Charlotte (pointed out by our agent and by bud41 or UNCMickey in earlier posts).

On Wednesday, we visited areas north of Charlotte. Davidson and Mooresville are again very nice areas. Both areas are built up with a lot of shopping centers, business and shops, which we are told is very congested during rush hour and lunch times. If you plan on traveling to Charlotte during rush hour, it would be ill advised. The development of Cherry Grove in Mooresville we visited is some distance from I 77, mostly on 2 lane roads. Traffic just to get back to the Interstate was a mess, let alone the hour it took us to go south back into Charlotte, going in the opposite direction of rush hour traffic at that hour (start back at 5:45 PM, hit Charlotte at 6:45 PM), but it was raining.

We extended our stay an extra day to go back to Dr Horton in Tega Cay and Centx in Waxhaw to review those areas.

We did not visit areas east or west of the city because we did not have time, and few fit our criteria. We did not even go into Charlotte. For these reasons, we are planning another trip in October – we don’t want to give short shrift to the east/west areas. Currently we are leaning to the 2 areas in the south that I referred to going back and forth with the intangibles of Tega Cay’s lake area living but high taxes and Waxhaw’s lower costs and rural charm.

Long Island, NY
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6. Re: Work in Charlotte, Live in SC

Lexie,

Is the tax rate I was told about Waxhaw correct? Thanks for your help.

Ohio
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7. Re: Work in Charlotte, Live in SC

Thanks for all the information Jed! We too will be "vacationing" in the Smoky Mountains, touring the Biltmore and then on to the Charlotte area to investigate. We do not have a realtor set up at this time as we aren't sure when we'd actually be moving...near future or distant future, and wouldn't want to waste anyone's time.

We are certainly interested in the Tega Cay area and hoping not to be disappointed when we get there, although I must say our price ranges differ considerably.

Wishing you good luck in your search! Embrace the change...

Princess

southcarolina
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8. Re: Work in Charlotte, Live in SC

To Red Jed: okay first of all I would like to say that by no way am I anywhere close to being a tax expert....so I have provided you with some websites you might want to check in to. They should show you that yes the city of Waxhaw appears to be cheaper than city of Tega Cay but you also (now I could be wrong on this part and maybe someone in NC could answer this better) have to add in the Meck. county taxes as well. If this is true than it could be possible that by the time you add the city and county taxes together they would be more than say the city of Tega Cay and the York county taxes. The property taxes for Tega Cay are 0.3590. One other thing that I do know is that there are two tax brackets in Tega Cay....if your a part-time resident the taxes are higher. Back to the areas that you are looking at....they are all really, really nice but for me and my family and what we were looking for...Tega Cay was it (the schools, lake, sports, walking trails). Now mind you this is not what we started out looking for....coming from CA we were going to get a house with an acre or two...but once we saw Tega Cay...that all went out the window. I am hoping you got to look at homes all through Tega Cay and not just the Lakeshore area. Did you get to see Windjammer park, Runde or Turner Field, Golf Course, or go boating (find a realtor with a boat :o)....???? For us living here we feel like we are always on vacation. One thing I wanted to mention too is if you do end up working in Charlotte and live in Waxhaw or Weddington the traffic does get bad on the 485. The downsides to Tega Cay...(depending on who you ask)...the city has annexed land off hwy 160 (about 2 miles or so down the road)...and we will have are very own Walmart...yippee!:o( (this is suppose to help with the taxes). Last but not least...the nuclear power plant...yes it is there on the other side of the lake....I guess for us and most...we just don't think about it. When we were in CA and there was one there too so it is nothing new for us. Hope this helps a little bit: http://tegacayrealestate.com/tax.htm http://tegacayliving.com/about.htm www.heidihines.com/firstimpression-facts.htm newcomer.com/cities/…CHLTstarted.html

southcarolina
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9. Re: Work in Charlotte, Live in SC

sorry but a big duh on my part...Waxhaw is in Union Cnty.

Long Island, NY
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10. Re: Work in Charlotte, Live in SC

Lovetegacaysc,

No worries on the mix up. The amenities that you mentioned are very the same ones that drew me to like the area as well. We did drive around a bit and did see the parks and the golf course. Unfortunately, our agent did not have a boat :-(. I came to the same conclusion that it would be like living in a vacation resort. The commute to Charlotte looks easier with more direct routes into the city. Also, for some reason, living in SC is also appealing to me – maybe it’s the cheap gasoline talking. Regarding the nuclear plant, I just wanted to get a feel for what people in the area think about it. As I figured, most people probably don’t think about it and enjoy the low rates it provides. We almost had one on LI, but the NIMBYs protested it out of existence. Thirty five years, $5 billion and a really bad deal to “hold” rates down later, we still have some of the highest electrical rates in the country. Anyway, Indian Point is 35 miles north of NYC and it is the worst run nuclear plant in the nation and there are plants across the LI Sound in Connecticut (sorry for the monologue).

For us, it is coming down to taxes and which builder will give us more for our money. The intangibles have us siding with Tega Cay. The numbers have us siding with the Waxhaw area. I think either way, we come out ahead from where we are now.

How are the taxes on your house, (hi, medium or low) if I may ask? Can't seem to find a realtor's web site that lists current homes for sale with their tax rates, but I will check out the sites you listed. Thanks for your help.