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Old 10-02-2015, 10:58 AM
 
5 posts, read 3,977 times
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I can tell you most people moving there with Toyota from So Cal are accustomed to "long" commute times. Anything short of an hour commute for most folks will be like a vacation so there will be plenty of activity in Prosper and Celina and perhaps farther away from Plano. The biggest governing factor on housing prices is the property tax there. Even if one could afford it, why buy a million dollar house and have ~$30K in tax when you can find a perfectly nice house in a great area for about half the price? Doesn't pencil.
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Old 10-02-2015, 06:23 PM
 
3,540 posts, read 6,978,803 times
Reputation: 4552
We have a number of California transplants in the neighborhood and a common theme is how bad the commute was and that they were missing large chunks of time with their families due to it. At this point an hour is distasteful when they don't have to be that far out.

And I have no idea where you are getting your numbers but housing costs haven't escalated to the point you've got to buy a million dollar home or be in the exurbs.
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Old 10-02-2015, 09:11 PM
 
5 posts, read 3,977 times
Reputation: 22
Quote:
Originally Posted by MurphyPl1 View Post
We have a number of California transplants in the neighborhood and a common theme is how bad the commute was and that they were missing large chunks of time with their families due to it. At this point an hour is distasteful when they don't have to be that far out.

And I have no idea where you are getting your numbers but housing costs haven't escalated to the point you've got to buy a million dollar home or be in the exurbs.

I hear you, It appears that you can spend a mil relatively easily in Plano but the taxes would kill you even if you had the cash to plop into it. I would never commute an hour but there are a ton of people here in CA that do. My comment was more about the housing market there I suppose. The taxes regulate the prices IMHO.
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Old 10-03-2015, 03:06 AM
 
641 posts, read 459,341 times
Reputation: 749
California taxes keep rising? Which ones?
Sales Tax? No. It is comparable to CoCo sales tax.

Income Tax? No unless you are in the pro athlete, celebrity, or CEO category. Still, I don't like it because it incents CEOs to want to move out of state. Also California needs to spend less, or at least spend on the right things.

Property Tax? LMAO! California base property taxes are lower, and they don't rise much after you buy. When I got relocated here, I was paying .28% of the price I sold my house for. This is because I had bought in 1993. If I had bought only a year prior to moving, I would have been paying closer to 1%. So yes, the taxes, which is cash out of your pocket every year, are driving what transferees spend.

Yes gasoline tax is less. Partly negated by toll roads.

How about Hidden Tax #2? HOA dues. Yes, those authoritarian micro-governments that are the latest rage here.

Where is the bang for the buck again? What is cheaper? Not houses anymore. Hope for everyone's sake these numbers hold up when the last Toyota employee closes on their new home. Except... that doesn't make for affordable housing, so your kids will still be living with you.
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Old 10-03-2015, 10:14 AM
 
Location: Dallas, TX
476 posts, read 312,611 times
Reputation: 802
Quote:
Originally Posted by Beardown91737 View Post
California taxes keep rising? Which ones?
Sales Tax? No. It is comparable to CoCo sales tax.

Income Tax? No unless you are in the pro athlete, celebrity, or CEO category. Still, I don't like it because it incents CEOs to want to move out of state. Also California needs to spend less, or at least spend on the right things.

Property Tax? LMAO! California base property taxes are lower, and they don't rise much after you buy. When I got relocated here, I was paying .28% of the price I sold my house for. This is because I had bought in 1993. If I had bought only a year prior to moving, I would have been paying closer to 1%. So yes, the taxes, which is cash out of your pocket every year, are driving what transferees spend.

Yes gasoline tax is less. Partly negated by toll roads.

How about Hidden Tax #2? HOA dues. Yes, those authoritarian micro-governments that are the latest rage here.

Where is the bang for the buck again? What is cheaper? Not houses anymore. Hope for everyone's sake these numbers hold up when the last Toyota employee closes on their new home. Except... that doesn't make for affordable housing, so your kids will still be living with you.

Overall tax burden is still significantly higher in California, although the current trajectory in taxation is shrinking the gap between TX and CA as property values are rising faster than incomes in both areas. Still, the average professional family will have a significantly higher tax burden in CA due to income tax payments and the fact that the difference in property tax rates (1% compared to 2.5% for example) is partially offset by higher property values in CA.

Having said that, while state and local tax burden gets a lot of discussion it is not a major contributor to the bottom line financial decision. The difference in property values is the main driver and the gap is still huge between DFW and CA metros. After all, while DFW prices are increasing, prices in those metros are increasing as well and in absolute terms the increases there are larger.
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Old 10-03-2015, 11:27 AM
 
Location: Prosper
6,268 posts, read 12,175,755 times
Reputation: 9332
Quote:
Originally Posted by Beardown91737 View Post
California taxes keep rising? Which ones?
Sales Tax? No. It is comparable to CoCo sales tax.

Income Tax? No unless you are in the pro athlete, celebrity, or CEO category. Still, I don't like it because it incents CEOs to want to move out of state. Also California needs to spend less, or at least spend on the right things.

Property Tax? LMAO! California base property taxes are lower, and they don't rise much after you buy. When I got relocated here, I was paying .28% of the price I sold my house for. This is because I had bought in 1993. If I had bought only a year prior to moving, I would have been paying closer to 1%. So yes, the taxes, which is cash out of your pocket every year, are driving what transferees spend.

Yes gasoline tax is less. Partly negated by toll roads.

How about Hidden Tax #2? HOA dues. Yes, those authoritarian micro-governments that are the latest rage here.

Where is the bang for the buck again? What is cheaper? Not houses anymore. Hope for everyone's sake these numbers hold up when the last Toyota employee closes on their new home. Except... that doesn't make for affordable housing, so your kids will still be living with you.
I don't know what to tell you other than your post is a complete joke. People are fleeing California because of the tax situation. The 2015 state income tax rate? If you're a Toyota employee making over $100k a year, your tax rate is 9.3%. TX state tax income rate... oh wait, we don't have one.

Property taxes around here are about 2-2.5% of the value. Big deal if California's rate is 1%. The houses there still cost more and are a lot smaller! Hence, more bang for the buck here.

Quote:
Originally Posted by NP78 View Post
Overall tax burden is still significantly higher in California, although the current trajectory in taxation is shrinking the gap between TX and CA as property values are rising faster than incomes in both areas. Still, the average professional family will have a significantly higher tax burden in CA due to income tax payments and the fact that the difference in property tax rates (1% compared to 2.5% for example) is partially offset by higher property values in CA.

Having said that, while state and local tax burden gets a lot of discussion it is not a major contributor to the bottom line financial decision. The difference in property values is the main driver and the gap is still huge between DFW and CA metros. After all, while DFW prices are increasing, prices in those metros are increasing as well and in absolute terms the increases there are larger.
This.
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Old 10-03-2015, 11:54 AM
 
1,282 posts, read 2,986,432 times
Reputation: 1062
One of my new neighbors is here (early) for the Toyota move...she said about 1/3 to 1/2 are moving.
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Old 10-03-2015, 11:59 AM
 
1,788 posts, read 1,893,136 times
Reputation: 1706
Quote:
Originally Posted by PlanoGirl View Post
One of my new neighbors is here (early) for the Toyota move...she said about 1/3 to 1/2 are moving.
What city do you live in?
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Old 10-03-2015, 12:12 PM
 
Location: Mckinney
979 posts, read 1,013,777 times
Reputation: 986
Quote:
Originally Posted by PlanoGirl View Post
One of my new neighbors is here (early) for the Toyota move...she said about 1/3 to 1/2 are moving.
I had one on a tour of area a few months ago, and they said they were expecting about half to move.
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Old 10-03-2015, 05:03 PM
 
732 posts, read 501,883 times
Reputation: 587
Quote:
Originally Posted by mikestrong View Post
I had one on a tour of area a few months ago, and they said they were expecting about half to move.
There's still time for some to find other jobs before they are forced to move. Those that don't relocate get a nice package, while the ones that move get a much nicer package. Many at Toyota don't really want to relocate since they have family still in Ca. Their guess is it will be less than half.
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