Reply to West Virginia "on a path to eliminating its personal income tax"

Forum Index » Real Estate

Reply to "West Virginia "on a path to eliminating its personal income tax""

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I lived in Texas for 14 years, was a homeowner for two. While there's no state income tax, the property taxes are pretty high to make up for it. They don't seem to be suffering.[/quote]

My husband’s family lives in Texas-  We live in MoCo. we pay $14,500 in property taxes and over $30K in state income taxes.  My BIL lives in Austin’s and pays about $18K in property taxes.  Our home values are the same.

I would take their bill.[/quote]
that 18k in property taxes is probably on a 500k house. your 14.5k in property taxes are on a 1.3M house. does that sound right? my property taxes in rockville for a 1.1M house are 12k
in the austin urban core (east of mopac, west of 35, south of koenig and north of oltorf), a 500k house is a shack. anywhere else, you're in a soulless suburb like cedar park. you get what you pay for[/quote]

+100
You can tell this pp actually lived in Austin and knows what she's talking about while the other pp has never lived there and doesn't know. I lived in Austin for a while North of Ben White Blvd but South of the river and anyone that thinks Texas has low taxes has never lived there.[/quote]

There was a Business Insider story of a guy that moved from the Bay Area to Austin and then moved back.

He said the combination of significantly higher property tax in Austin plus absolutely massive electricity bills ($2k per month on yes a large house…like 5,000 square feet) was a wash with CA taxes.

Admittedly, if you live close to the coast in CA you never need AC and rarely need heat.[/quote]

Yeah, you can have broad-based taxes that affect everyone based on their activity—ie, people who WORK pay income tax, people who CONSUME pay sales tax—or you can just fund everything through property taxes, which are least felt by those who have the most ability to WORK and are most likely to CONSUME and are born by people on limited incomes who have land. It's particularly brutal for people who have family land that has been around for generations.

In NH, there are terrible stories of people who had orchards in their family back to the 1760s being forced to sell it because their local property assessments came in so high... Meanwhile, 28yo me didn't pay a DIME in taxes despite having a large and growing income and having kids about to enter the public school system. :lol:

(and before you say it, I know that my rent factored in higher property tax, but the overall cost of living is low, so my rent was still great and meanwhile the old codger who worked his whole life on a farm and was proud to say that seven generations before him did the same thing was having to chop down trees and sell the whole thing off)[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics