Louisiana Economic Development Ranks No. 2 In Site Selection Top Competitive States Rating

[BeenThereDunThat]

Originally Posted by bpollen

Another thing to consider about tax concessions to business: Those new businesses will cost the state not just the lost taxes, but wear and tear on the roads, loss in utility fees and taxes, and such. Their kids will add to the school tax burden. Guess who has to make up the loss of all that? The average taxpayer.

Example: Texas has been extremely successful in attracting businesses to its state. That's great. It really is. But the property taxes there are the third highest in the nation, forcing some people, including seniors, to sell their homes because of the property taxes alone. The taxes are so high that the Lt. Governor and the legislature are working on a bill to control them, which angers the local taxing authorities greatly. In fact, the state House passed the bill. It's unclear whether the state Senate will pass it.

I live in Texas. So I'll get a good price for my house when I sell it, because of the new businesses and the economy. Yay. The flip side is that I have to move because of the property taxes.

But then again, Texas has no personal income tax so property taxes are making up the difference. Some would argue that if you can afford a certain level of property that would be assessed at a certain tax rate, you would probably have the income to support such a tax. Not arguing....mind you. My friends who live in pricier parts of Dallas rationalize by saying their property taxes are a wash when considering no personal income tax.