 |
Well, everybody else is doing it...
Author: Commenter
Date: 07-16-2018 - 22:06
Warning. This is not about trains... but it is interesting.
Every so often here (as elsewhere) somebody threatens to move to Texas from California. There are arguments to be made for both sides on that. One statistic I came across was interesting. In 2018...
Data point - - - - - California - - Texas
effective real
estate tax rate - - - 0.79% - - - - 1.86%
Median Home Value - - $409,300 - - $142,700
Tax on Median Home - - $3,237 - - - $2,654
I hadn't realized that the effective tax rate in Texas was 235% of that in California, but since the median California home is worth 2.87 times the median Texas home the homeowner in California pays a bit more.
I had heard that the high cost of California homes was partly due to the low tax rate, i.e. one can afford a more expensive house because the tax rate is lower, especially if you live long enough! 34 states have a higher rate.
The other thing that surprised me, although it shouldn't have, is that some of the states with low gas taxes make up for it with registration or property taxes on cars that are much higher than California. It is 0.65% effective in California. Texas is 0%, which explains all the toll roads. On the other hand it is 3.39% in Mississippi. That is $813 on a $24,000 Toyota Camry LE four-door sedan (as of February 2018), the highest-selling car of 2017. And of course da link:
[wallethub.com]
Every so often here (as elsewhere) somebody threatens to move to Texas from California. There are arguments to be made for both sides on that. One statistic I came across was interesting. In 2018...
Data point - - - - - California - - Texas
effective real
estate tax rate - - - 0.79% - - - - 1.86%
Median Home Value - - $409,300 - - $142,700
Tax on Median Home - - $3,237 - - - $2,654
I hadn't realized that the effective tax rate in Texas was 235% of that in California, but since the median California home is worth 2.87 times the median Texas home the homeowner in California pays a bit more.
I had heard that the high cost of California homes was partly due to the low tax rate, i.e. one can afford a more expensive house because the tax rate is lower, especially if you live long enough! 34 states have a higher rate.
The other thing that surprised me, although it shouldn't have, is that some of the states with low gas taxes make up for it with registration or property taxes on cars that are much higher than California. It is 0.65% effective in California. Texas is 0%, which explains all the toll roads. On the other hand it is 3.39% in Mississippi. That is $813 on a $24,000 Toyota Camry LE four-door sedan (as of February 2018), the highest-selling car of 2017. And of course da link:
[wallethub.com]
Well, everybody else is doing it...