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Seems like tax is the biggest thing people complain about. I often hear people cite states with no income tax as the best states to live in.
Is this true or does the state with no income tax get you another way?
How is life compared to two states (one with state income vs one without?)
Depends, Texas has no income tax but many houses have extremely high property tax rate. Texas is projected to have huge enrollment increases in the educational system and the state has been reducing state aid percentages so property taxes will likely increase beyond their already extremely high levels.
Nevada has no state income tax, low sales tax rates and extremely low property tax rates. Nevada also has lots of property tax limitations also where property tax increases can only increase slightly year after year.
Here are two homes of similar size in the 250,000-300,000 range.
The home is Nevada has $1,800 in property tax.
The one in Texas has $6,000 in property tax.
Texas in general in my opinion when one adds in the relatively high state and local taxes and extremely high property taxes really is a moderate tax state.
Nevada, South Dakota, Florida have low taxes across the board with very low sales and relatively low property taxes in addition to the no state income tax.
Washington and New Hampshire seem to have moderate property tax rates but they have a very level of service with the no state income tax.
Florida is like Nevada with low property tax rates, low sales tax rates and no state income tax and it is because of the low birth rate.
Texas is just slightly lower than mormon Utah on birth-rates with extremely high birth rates so the demand for educational services is very high so that causes property taxes to be very high in Texas.
I live in income and sales tax-free NH but work in MA (much better pay and benefits)...
so NH sticks it to me with extremely high property taxes and MA gets me with income tax.
The problem is the people with children expect childfree me to pay for their kids' education. And I don't think that is at all fair.
We homeschool, so I pay for public education that my children don’t use. I don’t mibd at all. We all benefit from an educated populace and chances are good that today’s public educated kids will be caring for me in my old age (as healthcare workers, etc.).
Nevada has no state income tax, low sales tax rates and extremely low property tax rates. Nevada also has lots of property tax limitations also where property tax increases can only increase slightly year after year.
Nevada has no state income tax because they legalize gambling and tax winnings.
Depends, Texas has no income tax but many houses have extremely high property tax rate. Texas is projected to have huge enrollment increases in the educational system and the state has been reducing state aid percentages so property taxes will likely increase beyond their already extremely high levels.
Nevada has no state income tax, low sales tax rates and extremely low property tax rates. Nevada also has lots of property tax limitations also where property tax increases can only increase slightly year after year.
Here are two homes of similar size in the 250,000-300,000 range.
The home is Nevada has $1,800 in property tax.
The one in Texas has $6,000 in property tax.
Texas in general in my opinion when one adds in the relatively high state and local taxes and extremely high property taxes really is a moderate tax state.
Nevada, South Dakota, Florida have low taxes across the board with very low sales and relatively low property taxes in addition to the no state income tax.
Washington and New Hampshire seem to have moderate property tax rates but they have a very level of service with the no state income tax.
Florida is like Nevada with low property tax rates, low sales tax rates and no state income tax and it is because of the low birth rate.
Texas is just slightly lower than mormon Utah on birth-rates with extremely high birth rates so the demand for educational services is very high so that causes property taxes to be very high in Texas.
Totally agree with what you posted. We briefly considered returning to Texas in retirement in the near future and visited friends in The Woodlands a few months ago and their property tx and insurance are much higher than ours in Washington state and you can go to a cheaper area of Washington to live as we are doing. Nevada is also a good option imo.
Seems like tax is the biggest thing people complain about. I often hear people cite states with no income tax as the best states to live in.
Is this true or does the state with no income tax get you another way?
How is life compared to two states (one with state income vs one without?)
North Carolina has a income tax and has the best colleges and cities who are cited numerous times as "best place to live".
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