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A lot of people may not want to move to Texas when they find out how sky high property taxes are to make up for not having an income tax. You might as will be paying rent to the state. And you can't escape the tax by renting a house, because the landlord will only pass his property tax on to you.
This is precisely why these states will sooner or later adopt "split roll" property taxes, where non-owner occupied property gets to pay higher rates.
Homeowners will tolerate rising property taxes for only so long, and the legislative fix will be to "protect" homeowners by increasing property taxes on everyone else. Renters will simply be screwed, and conservatives are okay with that. (If renters don't like it they can buy a house or vote with their feet.)
Great, and now people will borrow more money from banks to buy the property and pay more interest to the FIRE sector, eventually eliminating any real benefit to the tax cut. Tragic in lieu of keeping taxes where they are and sending residents an oil dividend.
A lot of people may not want to move to Texas when they find out how sky high property taxes are to make up for not having an income tax. You might as will be paying rent to the state. And you can't escape the tax by renting a house, because the landlord will only pass his property tax on to you.
Yes, property taxes in TX are high, but certainly not high enough to counteract the fact that there's no income tax. The tax situation in Texas overall is very good.
In 2009, Texas had the 45th highest (or 5th lowest) state and local tax burden - when you look at all taxes combined - in the nation:
Yes, property taxes in TX are high, but certainly not high enough to counteract the fact that there's no income tax. The tax situation in Texas overall is very good.
In 2009, Texas had the 45th highest (or 5th lowest) state and local tax burden - when you look at all taxes combined - in the nation:
Unfortunately, Texas has the third most regressive tax structure in the country.
A critical issue for the conference committee to consider is the equity of the Texas tax structure. In a national study released in June 1996, Citizens for Tax Justice found Texas to have the third most regressive tax system in the country.(1) The study found that low-income families paid 13.8% of their income in Texas state and local taxes, middle-income families paid 8.6% and the best-off one-percent paid only 4.4%.(2)
And yes, this is a liberal group saying this but they're ranking the 50 states, and have no ideological reason to say Texas is more or less regressive than any other state.
Note that the 13.9% state and local taxes paid by low-income Texans is well above the overall 7.9% cited by the Tax Foundation for all Texans, and is above the overall tax rate in every state in the country.
One under the radar method for checking where people are moving to and from; compare U-Haul rental rates between any two cities in both directions, and you'll have your answer.
For instance, renting one to move from LA to DFW is 3-4.5 times more expensive than the other way around, and that's been the case for most of the past decade.
Measure 2 is going down in a ball of flames. North Dakotans are against eliminating property taxes. 80-20%. Only 11% reporting.
Yes....I live across the border from Grand Forks ND....and the issue has been the folks who got the initiative going didnt really spell out a plan on how funding was going to be done without property taxes. Many rural small towns were quite scared of being ignored by the state legislature in favor of the bigger cities. Feeling was while the idea is good, there was little explanation of what to do if it passed. I do feel this was a wake up call though for the state legislature in Bismarck to at least look at reduction. One idea floating around was to exempt the first 100k on a house from taxes. But I do know if nothing is done, then it will return back at the ballot box.
On to the Univ North Dakota Fighting Sioux nickname issue....finally resolved and name will be retired....
Yes....I live across the border from Grand Forks ND....and the issue has been the folks who got the initiative going didnt really spell out a plan on how funding was going to be done without property taxes. Many rural small towns were quite scared of being ignored by the state legislature in favor of the bigger cities. Feeling was while the idea is good, there was little explanation of what to do if it passed. I do feel this was a wake up call though for the state legislature in Bismarck to at least look at reduction. One idea floating around was to exempt the first 100k on a house from taxes. But I do know if nothing is done, then it will return back at the ballot box.
On to the Univ North Dakota Fighting Sioux nickname issue....finally resolved and name will be retired....
The results website is down. But it looks like UND will be retiring the Fighting Sioux nickname. I'm surprised it was put to a vote.
The results website is down. But it looks like UND will be retiring the Fighting Sioux nickname. I'm surprised it was put to a vote.
The supporters and some of the tribal leaders at Spirit Lake reservation got enough signatures for a petition. Same for the other measures (prop tax, etc). You can add something for a public vote in North Dakota if get 2 pct of the citizens to sign a peition. But is is going down pretty handily 65/35.
Property tax is going down about 78/23.
Simiply put the UND Sioux controversy has gone on too long and with the Big Sky conference looming and with Minnesota and Wisconsin and other schools not able to play UND if they had the nickname once the Big 10 hockey conf starts in another year, it was sorely needed. A nickname is not needed, just go by Univ of North Dakota...nothing wrong with that.
I am a Minnesota resident so not able to vote, but was suprised by prop tax measure going down to much, but again many folks are leary of having a state control things instead of locals. Plus the ND state legislature meets every 2 years, not every year. Imagine trying to fund that way.
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