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Texas may not have a state income tax, but some city sales taxes are high. We pay 8.5%. And our property taxes are nearly 3-3.5% of adjusted assessed value. I'm told we also have high insurance rates on real estate and autos. Add in some fees and although buying a house built by illegal's may be cheaper than other areas, some cost are higher.
Don't get me started on transportation in Dallas and Houston. What one saves on housing is spent on transportation.
DD has a condo in Manhattan. It is valued a lot more than my Houston house. Her taxes and insurance are 1/2 of what we pay.
Yeah, that sounds about right. NYC property tax rates are relatively low. They're high in Long Island and Westchester, which is why some folks who live in the suburbs will opt for Connecticut.
NY and CA are losing population and seen as unsustainable to the middle class.and seem to be self sorting into the very rich and very poor, utilizing generous welfare in the states.
Businneses are opting not to be in either state and they still raise taxes for more government actions.
What's the long term outlook here? How can these states continue?
It's no coincidence that the two "Escape From" movies were Escape From New York and Escape From LA.
What's the long term outlook here? How can these states continue?
Anyone with basic math skills can figure out why this will not continue much longer,
The evidence is clear for all except for the blind, deaf and stupid.
Taxpayer-funded handouts shouldn't be called entitlements at all. Social Security and Veterans Benefits are
Entitlements because the people receiving them are entitled to them. They were earned and paid for by the recipients.
“A Liberal Paradise would be a place where everybody
has guaranteed employment, free comprehensive healthcare,
free education, free food, free housing, free clothing, free utilities;
and only Law Enforcement has guns.
NY and CA are doing just fine, at least for anyone who bought a house there 30 years ago. The main problem with NY and CA is the cost of housing, not taxes.
property taxes are most certainly a problem (at least here in NY)
property taxes are most certainly a problem (at least here in NY)
Property taxes are also a big problem in California. Young, growing families cannot afford to move into a bigger home because the property tax resets to a much higher rate when a home is purchased.
NY and CA are doing just fine, at least for anyone who bought a house there 30 years ago. The main problem with NY and CA is the cost of housing, not taxes.
New York does not only consist of NY City - it's a big state with much of it devoted to farming, vineyards and industry. Housing prices are some of the lowest in the nation outside of NYC - the problem is the taxes keep going up and up and up and boomers are leaving for warmer climates with lower taxes. We just can't keep paying the increase for all the social programs when we have limited income.
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What one saves on housing is spent on transportation.
