4 ms·

To counter this, as someone who lives in Chicago, there are some additional drawbacks beyond the weather: - Taxes are extremely high here, with no sign of slow

To counter this, as someone who lives in Chicago, there are some additional drawbacks beyond the weather: - Taxes are extremely high here, with no sign of slowing down - Political corruption is rampant in the state - Crime is mostly relegated to south side of city, but it's still an issue - Public works are decaying: train stations, airport, and everything else look like they need work - Schools are undesirable and a magnet/charter school has very high competition. My wife and I have lived here our whole lives and are considering joining several friends who have recently moved to the Nashville area to alleviate the above mentioned items. There is no state income tax in TN, public schools in suburbs are good w/ only a 20 minute drive into the city. There are some drawbacks but we're comfortable with the trade-off.

RightMillennial 8y ago
Regarding taxes, are you talking about Chicago proper or the surrounding suburbs? I rented in North Chicago for a couple years and I don't recall any taxes other than local and state sales tax, and state income tax. Granted that's pretty far north. Are the taxes higher as you get closer to the metropolis center?
- leisureforce 8y ago
  He or she was probably referring to property tax. Illinois has one of the highest property tax rates in the US.
- deleted 8y ago
  [deleted]
ordinaryperson 8y ago
Also, Chicago is highly racially segregated. http://www.chicagomag.com/city-life/March-2017/Why-Is-Chicago-So-Segregated/ http://www.chicagomag.com/city-life/March-2017/Why-Is-Chicag...
ewams 8y ago
Welcome to Nashville! We love the growth and all the culture that comes with it. Hit me up if you have any questions, been here for 14 years after trying NY, Cali and Florida.
foobarandgrill 8y ago
Also, there's a lot of traffic. Not as bad as LA or DC but still can be horrendous.
60654 8y ago
I hear taxes brought up a lot, but they're actually on par with major metro areas. Let's compare Chicago to SF: 1. Effective property tax rate: SF ~1.2%, Chicago ~1.7% * 2. State income tax: SF 9.3%+, Chicago 4.95% 3. Combined state, county + city sales tax: SF 8.5%, Chicago 10.25% (* But property taxes do get much higher in the suburban townships!) Altogether, the lower state income tax more than offsets the slightly higher property tax. But taxes is a favorite bugbear in local political campaigns, because they're an easy item for politicians to harp on (who doesn't want lower taxes after all?). The other day I saw a political ad where the actor proclaimed, "I'm moving out of Illinois because taxes are too high! Support XYZ for governor." But let's be honest, uprooting one's family just to optimize a few percentage points on the tax return is a terrible idea. And as long as there are good jobs available, taxes are just one living expense among many. As for the other items, I can't agree with them either. Chicago Public Schools are totally fine - they're very much focused on educating working-class and/or immigrant kids, so they're not like rich suburban schools with all the bells and whistles, but they do their job very well. And the magnet schools are top notch. Public works are a patchwork, but for example CTA is very well funded and runs much better than either MTA or MUNI. As for corruption - ok, I'll give you that one. ;)
- lotsofpulp 8y ago
  If you're thinking about long term, 10 to 20+ years into the future, you need to look at the state's debt, namely unfunded defined benefit pension obligations. IL is the worst, and that's using rosy assumptions: https://graphics.wsj.com/table/Connecticut_102015 https://graphics.wsj.com/table/Connecticut_102015 Combined with the fact that the rest of IL isn't burgeoning, and that Chicago is the main source of income, it would be prudent to expect ever increasing taxes and reduced services. Other states also have problems, but there are a few states whose problems are in another league. Personally, I would need a big discount to consider Chicago, as being outdoors is a big part of my life.
  - 60654 8y ago
    Yeah, if the pension plan had no assets, the state would be in deep trouble, as would most others. But in terms of pension cashflow as a fraction of total assets, IL is actually doing really well, better than the vast majority of states: https://www.pewtrusts.org/en/research-and-analysis/issue-briefs/2018/04/the-state-pension-funding-gap-2016 https://www.pewtrusts.org/en/research-and-analysis/issue-bri... Which is what allowed politicians to kick the can down the road for so long. So yes, there is a hole and it needs to be plugged. But this is a big state, plan assets are considerable, and there's a lot of new contributions coming in all the time as well. This won't trigger "ever increasing taxes" as some doomsaying politicians put it, there can be a correction once there is political will to do so.

RightMillennial 8y ago

Regarding taxes, are you talking about Chicago proper or the surrounding suburbs? I rented in North Chicago for a couple years and I don't recall any taxes other than local and state sales tax, and state income tax. Granted that's pretty far north. Are the taxes higher as you get closer to the metropolis center?

leisureforce 8y ago
He or she was probably referring to property tax. Illinois has one of the highest property tax rates in the US.
deleted 8y ago
[deleted]

ordinaryperson 8y ago

Also, Chicago is highly racially segregated. http://www.chicagomag.com/city-life/March-2017/Why-Is-Chicago-So-Segregated/ http://www.chicagomag.com/city-life/March-2017/Why-Is-Chicag...

ewams 8y ago

Welcome to Nashville! We love the growth and all the culture that comes with it. Hit me up if you have any questions, been here for 14 years after trying NY, Cali and Florida.

foobarandgrill 8y ago

Also, there's a lot of traffic. Not as bad as LA or DC but still can be horrendous.

60654 8y ago

I hear taxes brought up a lot, but they're actually on par with major metro areas. Let's compare Chicago to SF: 1. Effective property tax rate: SF ~1.2%, Chicago ~1.7% * 2. State income tax: SF 9.3%+, Chicago 4.95% 3. Combined state, county + city sales tax: SF 8.5%, Chicago 10.25% (* But property taxes do get much higher in the suburban townships!) Altogether, the lower state income tax more than offsets the slightly higher property tax. But taxes is a favorite bugbear in local political campaigns, because they're an easy item for politicians to harp on (who doesn't want lower taxes after all?). The other day I saw a political ad where the actor proclaimed, "I'm moving out of Illinois because taxes are too high! Support XYZ for governor." But let's be honest, uprooting one's family just to optimize a few percentage points on the tax return is a terrible idea. And as long as there are good jobs available, taxes are just one living expense among many. As for the other items, I can't agree with them either. Chicago Public Schools are totally fine - they're very much focused on educating working-class and/or immigrant kids, so they're not like rich suburban schools with all the bells and whistles, but they do their job very well. And the magnet schools are top notch. Public works are a patchwork, but for example CTA is very well funded and runs much better than either MTA or MUNI. As for corruption - ok, I'll give you that one. ;)

lotsofpulp 8y ago
If you're thinking about long term, 10 to 20+ years into the future, you need to look at the state's debt, namely unfunded defined benefit pension obligations. IL is the worst, and that's using rosy assumptions: https://graphics.wsj.com/table/Connecticut_102015 https://graphics.wsj.com/table/Connecticut_102015 Combined with the fact that the rest of IL isn't burgeoning, and that Chicago is the main source of income, it would be prudent to expect ever increasing taxes and reduced services. Other states also have problems, but there are a few states whose problems are in another league. Personally, I would need a big discount to consider Chicago, as being outdoors is a big part of my life.
- 60654 8y ago
  Yeah, if the pension plan had no assets, the state would be in deep trouble, as would most others. But in terms of pension cashflow as a fraction of total assets, IL is actually doing really well, better than the vast majority of states: https://www.pewtrusts.org/en/research-and-analysis/issue-briefs/2018/04/the-state-pension-funding-gap-2016 https://www.pewtrusts.org/en/research-and-analysis/issue-bri... Which is what allowed politicians to kick the can down the road for so long. So yes, there is a hole and it needs to be plugged. But this is a big state, plan assets are considerable, and there's a lot of new contributions coming in all the time as well. This won't trigger "ever increasing taxes" as some doomsaying politicians put it, there can be a correction once there is political will to do so.