Spokane has a median home value of $251,000, while Idaho has a typical home value of $327,000. As a result, housing costs in Idaho are often higher than those in Spokane. It’s crucial to keep in mind that these are merely median figures, and that actual home costs might vary significantly based on the neighborhood and style of residence you’re searching for.
Taxes
In terms of taxes, Idaho levies both a 6% statewide sales tax and a state income tax. Idaho also allows counties and localities to levy their own sales taxes, which can be anywhere between 0% and 3%. While there is no state income tax in Spokane, there is a 6.5% statewide sales tax. However, additional sales taxes, which can range from 0.1% to 3.9% in some Spokane-area cities, are levied. Idaho has a capital gains tax. If you intend to sell investments or real estate in Idaho, you might be required to pay a capital gains tax. According to your income level, Idaho’s income tax rate, which ranges from 1.125% to 6.925%, is the same as its capital gains tax rate. Idaho-based Kaiser Permanente Washington and Oregon are only two of the states where Kaiser Permanente has operations. They do not, however, currently have any physical presence in Idaho. Consider alternatives like Saint Alphonsus Health System or St. Luke’s Health System if you’re seeking for healthcare providers in Idaho. Purchasing a Vehicle in Oregon to Avoid Sales Tax One of the few states in the US without a statewide sales tax is Oregon. This implies that you won’t be required to pay sales tax if you buy an automobile in Oregon and register it in Idaho. You will nevertheless be liable for all fees related to registering the vehicle in Idaho.
In conclusion, a number of variables affect the cost of living in Spokane compared to Idaho. Although Idaho’s median home value is higher than Spokane’s, Spokane’s housing prices are typically cheaper. Spokane has a higher sales tax rate than Idaho, which levies both a state income tax and a general sales tax. You can’t presently find Kaiser Permanente in Idaho if you’re looking for healthcare professionals. Last but not least, you can avoid paying sales tax by purchasing a car in Oregon and registering it in Idaho, but you will still be responsible for paying registration fees. Living in Spokane or Idaho ultimately depends on your personal choices and financial position.