Outlook for the State of Texas (Austin: sales, leases, home)

[PA Keith]

Hi everyone,

My wife and I are making concrete plans to relocate to Austin this year. First let me say thanks to the regular contributors of this forum for providing your time. We have derived a wealth of great information here and truly appreciate it.

Two of the secondary reasons we want to leave our lifetime home of Pennsylvania are 1) Rate caps for electricity providers are set to expire this year meaning our electric bills are expected to jump by about 35%. 2) The commonwealth has unfunded state worker pension liabilities which in coming years are going to further burden our already deficit ridden state. Taxes are going to go up undoubtedly, and I would guess significantly.

My question is what is the fiscal outlook for the state government of Texas? I read that Texas is weathering the economic downturn better than most states, but are there any clouds on the horizon, as there are in PA?

I appreciate your input.

Keith

[CptnRn]

Texas has faired better here, but jobs are scarce. Don't move her without having a job lined up first. Austin and Texas is having its share of financial problems.

Texas doesn't have an income tax so it relies more on property taxes and sales tax to make ends meet.
Texas’ sales tax continues steep slide

Austin trustees to discuss alternative to declaring financial emergency

Revenue from gas and oil leases are down also...
Legislative leaders eye spending cuts to deal with looming budget hole

Speaking of energy costs, the City electric provider Austin Energy is looking at buying more "green power" which could mean a 20% increase in costs over the next 10 years.

Energy plan would put Austin among nation's greenest cities, but comes at a cost