What’s the difference between buying in VA and MD?

I’m originally a Virginian.  I grew up in Annandale (Fairfax County) and lived there for over 20 years.  I have always thought Maryland was SO different from NoVa (and that Maryland drivers were crazy).  Well, now that I live in Maryland, I hear the same thing from the native Marylanders about Virginia!  It’s funny how many people just don’t cross the border, even if it’s just minutes away!

As someone who has lived in both states for quite some time, I’m about to reveal something shocking:  there is no major difference between Virginia and Maryland!  The housing styles, amenities, cities and home prices are similar.  Even the people are similar! 

Many of my clients, especially those who are relocating to the Washington area, ask, “But is it cheaper to live in Maryland or Virginia?”

I met with Linda de Marlor of Tax Masters to answer this question.  The answer is: “Virginia, but just barely.” 

State income tax in VA is 5.75% of any income above $17,000.  In MD, it’s 7.95% of anything over $3,000.  But Virginia has an additional personal property tax, an annual tax you pay on your car and similar assets.  Maryland does not have this tax. 

So if you have another opinion on the differences between MD and VA, let me know!

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