You are thinking of the property tax. That's very different than the millionaire tax that MA is proposing.
If the Mass. Millionaires tax doesn’t pass, Conn is a significantly more expensive tax state
If Mass millionaires tax passes, the two states would essentially be tax equal for Brady
Mass state income tax 5%
Mass millionaires tax proposal 4%
Mass property tax 1.22% of assessed value
(0.937% in Brookline)
Conn state income tax 7%
Conn property tax 2% ( only $10k is deductible for all states)
Calculating where Brady earns his income (8 games in Mass) and yearly property tax difference of estimated $200k for an assessed $20 mill house.
Then Conn. residents have to contend with collapsing tax base (income tax and property tax revenue) as residents and employers flee the state in anticipation of radical tax increases to fund an overextended state government. Do the math
If solvent Mass. is proposing a millionaires tax, it’s only a matter of time near insolvent Conn crafts their next tax boost
The wealthy that stick around in Conn will be footing the bill
Note:Much of the hedge fund industry that made the Greenwich area their base of operations has made Jupiter, Fl their new home. One of the main reasons S Conn real estate has collapsed