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09-09-2009, 08:13 PM
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Junior Member
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Join Date: Jul 2009
6 posts, read 2,914 times
Reputation: 10
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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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09-09-2009, 08:59 PM
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Senior Member
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Join Date: Jun 2009
Location: Arkansas
491 posts, read 163,004 times
Reputation: 272
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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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09-10-2009, 05:37 AM
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Senior Member
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Join Date: May 2007
Location: Bella Vista, Ark
10,632 posts, read 5,178,682 times
Reputation: 1942
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Quote:
Originally Posted by danielhv
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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09-10-2009, 08:29 AM
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Senior Member
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Join Date: Mar 2008
Location: Izard County, AR
1,143 posts, read 760,572 times
Reputation: 566
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Quote:
Originally Posted by Dr. Foosball
Stay in Texas.
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That might be the best advice you'll get. |
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09-10-2009, 10:03 AM
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Senior Member
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Join Date: Nov 2008
156 posts, read 70,015 times
Reputation: 87
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Quote:
Originally Posted by danielhv
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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09-10-2009, 10:18 AM
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Senior Member
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Join Date: May 2007
Location: Bella Vista, Ark
10,632 posts, read 5,178,682 times
Reputation: 1942
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Quote:
Originally Posted by HANNU
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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true and too funny!!!!!
Nita  |
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09-11-2009, 06:13 PM
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Senior Member
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Join Date: Aug 2009
Location: Texan in Fort Smith, AR. :*( Miss the city.
234 posts, read 44,475 times
Reputation: 122
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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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09-11-2009, 06:15 PM
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Senior Member
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Join Date: Aug 2009
Location: Texan in Fort Smith, AR. :*( Miss the city.
234 posts, read 44,475 times
Reputation: 122
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Quote:
Originally Posted by nmnita
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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Actually....I'm sure a few economist can probably pull together some data and compare it. |
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09-13-2009, 08:37 AM
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Member
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Join Date: Oct 2008
46 posts, read 35,868 times
Reputation: 37
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In AR, they consider your vehicle as property task. And I always thought property meant land lol
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09-13-2009, 08:49 AM
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Senior Member
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Join Date: May 2007
Location: Bella Vista, Ark
10,632 posts, read 5,178,682 times
Reputation: 1942
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Quote:
Originally Posted by LibertysFate
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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