While buying more municipal bonds would blunt the impact of a millionaires’ tax on investors, residents are becoming increasingly squeezed by the high cost of living, she said. Taylor said she’s seeing more and more investors concerned about their taxes. In a Feb. 12 Monmouth University poll, 45 percent of residents said property taxes were the most important issue facing the state.
"The folks that are subject to this millionaires’ tax have options," she said. "They’ll figure out a way to avoid the tax or declare residency in another state."
This article provided by Bloomberg News.