What's Up with the Property Taxes? (Houston: house, income, living)

[Dopo]

Originally Posted by texas7

Coworkers who have lived in states with and without state income taxes say it works out about the same in terms of dollars for them. You pay taxes one way or the other, either to state or on property.

BS,
I never heard anybody “fighting state income tax rate”
You hear that about property taxes all the time
Because somebody pulls a number out of their behind and say
“That’s how much more you have to pay in taxes, now”

A friend of mine built a house a few years ago for about 200k,
Next year, his house was appraised at $275k, 110/sq ft,
Even though the lot plus building the house was $200k ($80/sq ft) and the houses in his Neighborhood are around $80/sq ft

Yes, that’s complete BS

[clerymary]

Originally Posted by Ghost Town

Now you are putting all the hate on Texas because of your opportunity loss.
I would probably be disappointed too if I lost that chance, but it's not Texas fault.
And I guess you are also pissed off because there are not so many liberals in Woodlands

...I hate property tax too, but it is what it is.
My personal approach is to set the tax limits that I am comfortable to pay and go from there. Buy house within those limits.
I don't see any way how the tax burden is going to be lower for me in CA because here in Texas I already set property tax limits that I am comfortable with. And don't forget the current real estate prices in CA. You still have to pay your property tax there even though the tax rates are lower. Plus state income tax.
If you can work from home all the time, FL is the best choice.

There's no hate on TX and no politics. Just tax math. But math is hard for most people so I get it. You can reason it all you want with setting a limit on your house and all that. But the truth still remains that TX is pretending to be a low tax state, but it is far from one...unless you are a very high earner like my first post stated. The tradeoff between income tax and property tax only kicks in favorably for very high earners.

[crone]

We paid a city earnings tax and a state income tax along with taxes on the house while living in another state. We moved home to Texas. Our combined taxes along with insurance and car fees was higher in Houston. We got more house for the money. But like was indicated, that brand new house had all kinds of issues.

When considering a move, also factor in MUD and HOA fees and utility rates. My water bill is sometimes higher than electricity in the summer due to the regional water authority fee. If you want law enforcement, that too, is extra in the unincorporated areas of Houston. And the 8+% sales tax.

[Dopo]

I laugh every time I hear a conservative saying that they are moving to Texas because they’ll pay lower taxes

Another fool got tricked

[Lbc2htx]

Lower taxes are true if you’re a business owner or in the 80th percentile or above in national household earnings.

[clerymary]

Originally Posted by Lbc2htx

Lower taxes are true if you’re a business owner or in the 80th percentile or above in national household earnings.

Yes, that's exactly what I wanted to say. And even for business owners, it depends what kind of business you're running. TX is a paradise for corporate headquarters but if you're a capital intensive business and you need lots of buildings, equippment, etc. it's not that great due again to...you guessed it...property taxes.

[houston-nomad]

Originally Posted by Lbc2htx

Lower taxes are true if you’re a business owner or in the 80th percentile or above in national household earnings.

WAIT A MINUTE... you're telling me that the system is designed to benefit the rich? But I thought that poor people only struggle because they are lazy? Confused...

[Ghost Town]

Originally Posted by clerymary

There's no hate on TX and no politics. Just tax math. But math is hard for most people so I get it. You can reason it all you want with setting a limit on your house and all that. But the truth still remains that TX is pretending to be a low tax state, but it is far from one...unless you are a very high earner like my first post stated. The tradeoff between income tax and property tax only kicks in favorably for very high earners.

Very easy math.
Make 100K+, live in 50-100K house and you will definitely save more on tax

[RG1981]

Originally Posted by donblackie

Correct. So if rentals are the same AND you arent paying state income tax, then didnt you just give yourself a increase (12%) in take home that you are now saving??!?!

Sure, but like I've said numerous times now, it's not enough to uproot me. I thought the savings would be more than that.

[Sammysh]

Originally Posted by Ghost Town

Very easy math.
Make 100K+, live in 50-100K house and you will definitely save more on tax

If you make 100k and live in a 50k house, there's something wrong with you. But I guess you don't actually do that but only use that to prove your non-existing point.