Age old question - where to domicile
We have been fulltiming for 4-months now and are giving real consideration to doing this long-term. Part of that decision is selecting a domicile. Now, about us... I am in my mid-30s, work fulltime...
Forum Discussion
Scottiemom wrote:
One thing to consider. . . do you have a mortgage exemption which lowers your property taxes on your home you rent out? If so, changing residency to another state means you will lose that exemption. How much is it? The taxes on our rental home are double what they would be if we lived there instead of full time in our motorhome. That must be calculated in the cost of going full time. If you maintain your exemption on it, then you taking an exemption that is only available to residents of the state, but you're not. How does your mortgage company feel about that?
You can still take the Interest Paid on the mortgage as a valid Income Tax deduction. And if the RV has a loan, then there is a 2nd interest to take.
