Hi,

Currently myself and my fiancé are living in NJ and I work in Staten Island and she works in the city.

Would we be better or worse off if we lived in NY ? (thinking of moving to Brooklyn)

Great site :) keep up the good work

There are a variety of variables to consider when deciding WHERE to live.

However, tax-wise, living in New Jersey is more advantageous than living in New York City if, for no other reason, is that you do NOT have to pay New York CITY income taxes, which ranges from 1-to-4%.

You are NOT liable for NYC income taxes if you just work in the city. To pay these taxes, you must LIVE in NYC.

The only exception is NY City employees who do not live in NYC. THEY get to pay a fee equal to the NYC tax rate for the privilege of keeping their job.

Thanks for the info :) if we where to move to Brooklyn do you think we'd have move money in our pocket come payday ? Or is Brooklyn considered NYC ? There for we'd have to pay the 1 - 4% city tax ?

Thanks again :)

Brooklyn is definitely part of NYC - so yes, if you live in Brooklyn you pay NYC resident tax as well as NY State income tax.

But there are other factors that you need to take into account:

1. Cost of commuting to your jobs from NJ compared to Brooklyn.
2. Cost of maintaining car(s) - perhaps by living in Brooklyn you could have one less car to maintain?
3. Cost of housing - can you get an apartment in Brooklyn for the same price as NJ?

ebaines raises good points about the other factors, but, tax-wise, you definitely do better in New Jersey.

I think we'll stay in NJ ! Might move to Hoboken & get the best of both world sort o speak..

Thanks for the help :)

Hoboken has certainly become a popular place to live and commute for young professionals. Frank Sinatra's old home town has definitely changed a lot since its depiction in "On the Waterfront" back in 1954 (if you haven't seen that movie - you must). Jersey City is also becoming popular. It would be great to find a place where you can jump on the PATH train without having to take NJ Transit - that's a definite plus. Good luck!

Glad to help!