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Old 09-09-2009, 07:13 PM
 
8 posts, read 18,492 times
Reputation: 13
Default Arkansas vs Texas... Cost of Living?

Everything I have seen shows that AR is supposed to have a lower cost of living... but Im trying to see where the savings is. If I relocate, I will incur state income tax and personal property taxes which we do not have here in texas... so, they take out the same federal tax... PLUS state tax now, PLUS personal property every year. Where is the savings at?
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Old 09-09-2009, 07:59 PM
 
Location: Fort Smith, Arkansas
1,466 posts, read 2,428,112 times
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Stay in Texas. I didn't realize it until I moved to Wichita Falls for a brief time, but the taxes are nuts in Arkansas.
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Old 09-10-2009, 04:37 AM
 
Location: Bella Vista, Ark
48,391 posts, read 39,397,407 times
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Quote:
Originally Posted by danielhv View Post
Everything I have seen shows that AR is supposed to have a lower cost of living... but Im trying to see where the savings is. If I relocate, I will incur state income tax and personal property taxes which we do not have here in texas... so, they take out the same federal tax... PLUS state tax now, PLUS personal property every year. Where is the savings at?
Personal property taxes are really very little and pretty much only apply to your vehichles. Yes, you will pay state income tax and the sales tax is slightly higher (not much since it keeps going up in Texas) the savings, depending on where you live will come in the form of: 1-cost of property 2-all insurances 3-untilities, 4-entertainment.

I have always thought cost of living is something that is very hard to compare from place to place. Just because something says this place or that place is cheaper or more expensive depends on so many things. Age and interests are just a part of that. Here is an example: for seniors in AR our property taxes are frozen so of course this makes us happy, plus being on a fixed income (I like to call it broken) we are not not as affected by income taxes. A younger person may find other things that don't affect them as much as seniors, example: medical. Add to that it depends on where you live in Texas. Some areas are much higher than others: are you talking about Amarillo or Houston? Are you looking at living in an urban area or a rural?

No one can truthfully say which of the two states is better economically. (that doesn't look like a word?)

Nita
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Old 09-10-2009, 07:29 AM
 
1,623 posts, read 2,937,034 times
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Quote:
Originally Posted by Dr. Foosball View Post
Stay in Texas.
That might be the best advice you'll get.
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Old 09-10-2009, 09:03 AM
 
163 posts, read 390,708 times
Reputation: 129
Quote:
Originally Posted by danielhv View Post
Everything I have seen shows that AR is supposed to have a lower cost of living... but Im trying to see where the savings is. If I relocate, I will incur state income tax and personal property taxes which we do not have here in texas... so, they take out the same federal tax... PLUS state tax now, PLUS personal property every year. Where is the savings at?
The savings are in the property taxes (which are notoriously huge in Texas) and deodorant (you don't sweat as much in Arkansas).
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Old 09-10-2009, 09:18 AM
 
Location: Bella Vista, Ark
48,391 posts, read 39,397,407 times
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Quote:
Originally Posted by HANNU View Post
The savings are in the property taxes (which are notoriously huge in Texas) and deodorant (you don't sweat as much in Arkansas).
true and too funny!!!!!

Nita
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Old 09-11-2009, 05:13 PM
 
522 posts, read 798,948 times
Reputation: 357
I thought there are property taxes in Texas. If not, then what the heck is my dad paying that huge lump sum at the end for?
Unless you're talking about something else...

Nevermind. Read the other posts.

I second what others have said. Stay in Texas if you can.
The property tax isn't bad depending on the area.
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Old 09-11-2009, 05:15 PM
 
522 posts, read 798,948 times
Reputation: 357
Quote:
Originally Posted by nmnita View Post

No one can truthfully say which of the two states is better economically. (that doesn't look like a word?)

Nita
Actually....I'm sure a few economist can probably pull together some data and compare it.
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Old 09-13-2009, 07:37 AM
 
511 posts, read 297,200 times
Reputation: 231
In AR, they consider your vehicle as property task. And I always thought property meant land lol
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Old 09-13-2009, 07:49 AM
 
Location: Bella Vista, Ark
48,391 posts, read 39,397,407 times
Reputation: 20310
Quote:
Originally Posted by LibertysFate View Post
Actually....I'm sure a few economist can probably pull together some data and compare it.
yes, but even those figures depend on so many variables. As I mentioned, much depends on your life style. Do you own a home or rent, are you in a high or low imcome lever? Are you 20 something or 80 something. I have never been a strong beleiver in these studies. To use them as a guide line is helpful, to use them as the final word can be misleading.

Nita
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