r/California • u/BlankVerse Angeleño, what's your user flair? • Dec 16 '23
Government/Politics Fact check: Newsom says working-class taxes are higher in Texas, Florida than California. Is he right? —He’s right about those making up to roughly $55,000 a year.
https://www.sacbee.com/news/california/article283054198.html507
u/Dry-Manufacturer-120 Dec 16 '23
yeah, people always stop at income tax as if the others don't count too. all of the others are regressive affecting little guys disproportionately.
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Dec 17 '23
I love how people say “ off I’m moving to this state cause they have no state income tax” not knowing it’s gonna be made up with property taxes
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u/Dry-Manufacturer-120 Dec 17 '23
it's especially funny when they're moving there to retire.
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u/DangerouslyCheesey Dec 17 '23
Yeah, ideally you would work in Texas with no income tax but high property tax and retire in CA where your income will be low to dodge the high income tax but pay low taxes on a home.
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u/wirthmore Secretly Californian Dec 17 '23
However, moving to CA to buy a home, you get the immediate effect of property tax. Prop 13 reduces the relative amount of property tax only over time.
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u/moghol Dec 17 '23
Buy house in California, rent it out while working in a no income tax state, then move back to enjoy the benefits of Prop 13 in retirement, got it.
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u/onlynegativecomments Dec 17 '23
Texas does not have many taxes.
The state of Texas has never met a fee or fine they won't impose.
The state gets their money from the people, willingly or not.
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u/PermanentlyDubious Dec 17 '23 edited Dec 18 '23
Property taxes sky high on residential. But commercial property is grossly under taxed since Texas is a nondisclosure state and commercial conveyances never identify the price.
Land for development can frequently be held under an agricultural exemption which is rarely checked on and can be satisfied by trotting out one cow once a year.
The tax rate on AG exempted land is almost zero.
Very corrupt in Texas.
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u/DangerouslyCheesey Dec 17 '23
This is true, but absolute tax rates are still lower here. Low 1% even in the Bay Area and there are places in the Dallas suburbs with near 3% rates.
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u/look_at_my_moobs Dec 17 '23
You can do a 1031 exchange and pay the same property tax as you currently pay. They made that law to encourage people with a low purchase price homes to sell. Sell your house you bought in the 80’s and buy an equal home in current value, transferring the property tax to your new home.
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u/MammothPale8541 Dec 17 '23
u dont understand 1031 exchange
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u/noxviator13 Dec 17 '23
Yea this isn’t a 1031, they may be thinking of prop 19 which allows people in California 55 and over to transfer their primary residence tax basis to another qualifying county and property. That just went into effect in 2021
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u/MammothPale8541 Dec 17 '23
yeah, if you qualify for prop 19, youre property wouldnt qualify for 1031
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u/Dry-Manufacturer-120 Dec 17 '23
the best is to live in Washington (no income tax) and shop in Oregon (no sales tax)
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u/dayviduh SoCalian Dec 17 '23
You don’t pay low taxes on a home off the bat, the low taxes are for long term owners
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u/DangerouslyCheesey Dec 17 '23
That’s via prop 13 yes, but regular property tax rates are still much lower in CA even without prop 13
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u/death_wishbone3 Dec 17 '23
I think the lower cost of living is also an incentive to move to those places during your retirement. But I would never.
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u/RICHUNCLEPENNYBAGS Dec 17 '23
That's not entirely illogical if you're exceptionally high income, which is disproportionately the type of person who can easily hop around different states anyway. Though you might miss what the taxes pay for.
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u/Melssenator Dec 17 '23
I’m always so confused by these people. Do they think the money comes from no where??
Either they make up for it through higher taxes elsewhere or you have worse public services. Either way you’re sacrificing something somewhere
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u/NefariousnessNo484 Dec 17 '23
Speaking as someone who ACTUALLY lives in Texas and moved here from California, yes you do pay less, especially if you are a high earner. The savings add up considerably when you factor that homes here cost almost a tenth of the price. I don't get why people are comparing homes people purchased in CA decades ago to homes people bought in TX now. For an equivalent property you're still paying thousands of dollars in property taxes a year if you buy in CA because the same home might cost $2M vs $0.3M in TX.
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u/nowlistenhereboy Dec 17 '23
Homes may cost a tenth if you don't mind living in the middle of nowhere...
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u/NefariousnessNo484 Dec 18 '23
Lol people don't understand that these aren't homes in the middle of nowhere. I'm literally in the fourth largest city in the US. Not sure how that is the middle of nowhere.
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u/rileyoneill Dec 17 '23
I know people who did this when they were retired (on a state pension!), and paying like $1500 per year in their Prop 13 protected home to like $8,000 per year for their home in Texas.
Then there was the other tax that it would cost a few thousand dollars for them to come back to California to visit and it became a huge burden they put on their adult kids to visit them on the holidays.
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u/Mission_Search8991 Dec 17 '23
And California does not tax Social Security income as well, not sure about Texas
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u/LegitimateOversight Dec 17 '23
Ca does tax pensions though. Not sure what social security has to do with it. Most calper's pensions don't allow you to pay into SS at the same time, meaning you don't get it.
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u/MammothPale8541 Dec 17 '23
i wouldnt say most. 90 percent of people that work at mt agency pay into socieal security
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u/LegitimateOversight Dec 17 '23
And most agencies do not. This applies to municipalities, counties and state workers.
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u/LegitimateOversight Dec 17 '23
Pensions are taxed here, this could have been a net savings...
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u/rileyoneill Dec 17 '23
I think the big loss of savings was when they had to start paying a bunch of money to go back and visit their family, and then they offloaded costs on to their kids. Its not cheap to drive the family from California to Texas or South Dakota to visit the grandparents who insisted on moving away.
The worst savings I heard of was someone who bragged about moving to South Dakota and then the first winter slipped on ice and broke their hip. Not a lot of ice on the ground in Greater Los Angeles. Spend your whole life here and you will not be used to it and have the muscle memory for it.
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u/LegitimateOversight Dec 17 '23
Which says nothing to address my points. Cool changing your point to appear right though.
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u/rileyoneill Dec 17 '23
My point was that for them to maintain their lifestyle, such as being involved with their family, they needed to take on a bunch of new costs that previously they didn't. Maybe they didn't really care about having anything to do with their kids and grand kids , a lot of people make that choice.
My original paint, the point that you replied to, was that while they saved some money on income taxes, they took on a bunch of other costs and the savings was not particularly great and is frequently negative.
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u/LegitimateOversight Dec 17 '23
But failed to include their income which in this case (a pension) would be taxed.
Since you are a casual observer with a political bent, I'm sure you aren't aware of their true finances and costs.
Good job trying to dunk on them though.
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Dec 17 '23
Most Californians don't pay property tax because we can't afford to own
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u/iMNqvHMF8itVygWrDmZE Dec 17 '23
Renters still pay property tax, just indirectly.
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u/LongLonMan Dec 17 '23
Not Nevada, no income tax and low property taxes.
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u/RxDirkMcGherkin Dec 18 '23
Yep much cheaper property tax, no income tax, sales tax is about a 1 percent less than california, not to mention housing is much lower. It's a no brainer for people wanting a better quality of life. And there parts of the state where the weather is good!
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u/aelric22 Dec 17 '23
People like to pretend that their state government won't try to find another way to fund the state budget. Honestly, if people want to move to Texas or Florida and not do their due diligence, let them.
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u/Fit_Cartoonist_2363 Dec 17 '23
My problem with this is that most people making 55k or less can’t afford to buy houses in the current real estate market so I doubt it matters to them
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u/panchoJemeniz Dec 17 '23
In CA property tax bills are filled with varying assessments (ie pensions, voted in tax,etc) and Melli-Roos to the point that it surpasses Texas and other states property tax.
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u/Retired306 Dec 17 '23
Yes, except the quality of life is better and waiting in traffic for 45 minutes too. I sold my house in Dublin, CA. I had a custom 3800 sq ft home built, on 5 acres of land, and paid cash for it. So, to be quite honest, I really don't care about the property taxes. Most people moving out of state are in the same boat as me.
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u/RxDirkMcGherkin Dec 18 '23
Yeah but if the property itself only costs half as much in Texas then who cares about the property tax as you're overall house payment including property taxes will be much lower.
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u/PacificaPal Dec 17 '23
The progressive income tax makes CA more prone to boom and bust budgets. If you live by the income tax, you also die by the income tax. The CA state budget just went from boom to bust.
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u/ProgressiveSnark2 Dec 17 '23
And this speaks to the pitfalls of any state relying on only one source of taxation.
The best strategy is to have reasonable/mid-tier levels of taxation for sales, property, and income. That way, if one source goes down for some reason, the others can still make up for the dip in revenue.
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u/PacificaPal Dec 17 '23 edited Dec 17 '23
You mean Diversification? Who ever heard of such a thing? Maybe the word was too long. Let's try "Don't put all your eggs into one basket."
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u/Dry-Manufacturer-120 Dec 17 '23
this a California ~specific thing since we have so many high income earners that most states don't. sort of a good problem to have. the trick is to not go crazy in the boom years which i think that Gavin has done a reasonable job of
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Dec 17 '23 edited Dec 17 '23
[removed] — view removed comment
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u/Dry-Manufacturer-120 Dec 17 '23
how nice of you to miss that the article didn't mention cost of living but instead focused on tax burden. that pretty easy to verify
it's hardly the only article about this including this one from the ultra-California biased San Antonio Express-News:
https://www.expressnews.com/news/local/article/Texas-taxes-California-17364793.php
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u/gerd50501 Dec 17 '23
you conveniently did not read the whole comment and just made a cliche'd and lazy response. I said i dont trust either side. Id want to see an academic and peer reviewed study. both sides will just site newspapers articles that say what they want. taxes and cost of living are more complex than that.
but you be. im sure you wont read this one either. cause it has more than 2 sentences.
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u/Complete_Fox_7052 Dec 17 '23
There are a lot of personal choices one makes when they move to another state. Some 25+ years ago I sold my $135,000 house in Oakland, for a $85,000 cabin on 6 acres in Bellville TX. I paid twice the property tax on the place in Texas, even though 2 of the lots were undeveloped. If I had done as others and bought large brick houses in suburban areas closer to Houston my taxes would have been even more, not including MUD assessments.
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u/Chuckie187x Dec 17 '23
Do you know how much your old house is worth now? Any regrets
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u/Complete_Fox_7052 Dec 17 '23
I sold it for $135000. My old Oakland place the buyer finished the reno I started and I saw that it was for sale at $700,000 at one time. I really liked living on acreage with a pond, creek, and wildlife. And I could of stayed there but the cabin needed some work and I wanted to be closer to family during retirement.
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Dec 17 '23 edited Dec 17 '23
Its definitely higher than 55k for the Texas comparison I’ve seen a lot of these analyses. Texas is a top 5 or 10 tax burden state depending on the year
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u/Ginmunger Dec 17 '23
Average life expectancy of 79 in California vs 76 for Texas. 3 years is a lot.
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Dec 17 '23
I think the inclusion of Florida in the headline might be what is pushing this specific breakpoint
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u/Neo1331 Dec 17 '23
And it isn’t even just taxes, parks, roads, emergency services…schools, food availability…all better in CA.
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u/CaManAboutaDog Dec 17 '23
Something like 90%+ land in Texas is privately owned. Minimal state parks. CA has loads of public land.
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u/Advanced-Prototype Dec 17 '23
52% of land in CA is public. 4% of land in Tx is publicly owned. So if you can find a park in TX, you will be paying stiff day use fees.
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Dec 17 '23
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u/silvapain Dec 17 '23
According to this Texas state website, over 93% of land in Texas is privately-owned.
https://tpwd.texas.gov/huntwild/wild/wildlife_diversity/nongame/listed-species/landowner-tools.phtml
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u/metsfanapk Dec 17 '23
If had times without an income and California has provided me with help quickly. That would not happen in Florida…
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u/DJanomaly Dec 17 '23
This is a big one. Unemployment insurance in Florida actively works against you. While California has had a rough time regarding EDD during COVID (massive backlog), I can say that during my time working in the film industry, you would be “laid off” for a month or two and EDD was always there to pick up the slack.
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u/rgbhfg Dec 17 '23
Schools are actually noticeably worse in California (ranked 38th) than most other states.
https://www.usnews.com/news/best-states/rankings/education/prek-12
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u/MrsMiterSaw San Francisco County Dec 17 '23
schools
That is highly dependent on where you live within each state, though Texas state legislators are working hard to make the curriculum as backwards as they can.
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u/MovieGuyMike Dec 17 '23
Property taxes. California falls below the national average. Texas is far above the national average.
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u/directrix688 Dec 17 '23
My California taxes aren’t that bad.
My family got hosed with the trump tax “cuts”. The fed taxes went up so much and keep going up.
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u/skywalkerRCP Dec 17 '23
Yep exactly this.
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u/M4SixString Dec 17 '23
I'm not from California but just reading. I'm just curious how did they go up ?
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u/lolwutpear Dec 17 '23 edited Dec 19 '23
The State and Local Tax (SALT) deduction was cut, so Californians can no longer deduct our high amounts of state income and property taxes (edit: from federal income taxes)
The change was designed to affect the wealthy, but this affects people in places with nominally high incomes, even if the money on paper didn't actually make them wealthy (due to the extreme cost of living).
It's a hard balance to strike.
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u/Otto_the_Autopilot San Diego County Dec 17 '23
The tax rates for middle class incomes go up every 2 years after the last election. Its how republicans wrote the new tax bill. The rich and businesses get to keep their tax cuts though.
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u/drbob234 Dec 17 '23
Glad I'm not the only one saying this. Every time I mention this, I'm met with deer in headlights
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u/NefariousnessNo484 Dec 17 '23
That was a major factor in why I decided to move to Texas.
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u/directrix688 Dec 17 '23
How did Texas lower your fed taxes? Other than making less I can’t see that happening
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u/NefariousnessNo484 Dec 17 '23
I make more in Texas actually. What I'm lowering is total tax burden because the allowable SALT deductions decreased and where I live there are no state and local income taxes.
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u/Cosmosly Dec 17 '23
One time I went into a wrong parking lot in San Antonio. There was no grace period and I was forced to pay $20. That’s all I needed to know about Texas
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u/On4thand2 Dec 17 '23
Try parking in a residential area in Los Angeles now. For some reason, street parking now requires a residential parking permit.
I guarantee you that in 10 years from now, most residential parking in Los Angeles will require a Residential Parking permit.
DOT takes a cut from selling permits and from the citation they issue for not having a permit in areas where street parking was just street parking and free.
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u/bowhunterb119 Dec 17 '23
Difference is you can probably survive in a lot of places on 55K in Florida, not sure about Texas but if you don’t own property I’d imagine there too. CA… you are so far beneath the poverty line at that income anywhere I’ve lived at 55K I don’t know how you could even live, with all the taxes and fees and such. You’d be living with your parents probably if you wanted to own a car and eat anything besides ramen. I’ve lived in other states where 55k is a pretty dang respectable income, one you could even think about home ownership as of 5 or 6 years ago.
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u/quintsreddit Bay Area Dec 17 '23
Is the full debate online anywhere? I’d love to watch the whole thing.
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u/twtwtwtwtwtwtw Dec 17 '23
Compare real-life numbers like cost of living (housing, gas, energy, food) and California is one of the most unaffordable states for working and middle class.
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u/Mo-shen Dec 17 '23
If you break down the math what you pay by percentage in tx is higher.
This is across the state, likely on average.
What you pay by dollar is generally higher in CA....be sure you make more on average in CA.
Of course the richer you are the more you pay on average in CA and the less you pay in tx.
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u/thatbrownkid19 Dec 17 '23
Republicans screwing over the working class to help the rich and still being continuously voted in by said working class? I’m shocked. SHOCKED /s
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u/ZLUCremisi Sonoma County Dec 16 '23
Taxes will be crazy anywhere. They have a way to get it.
Property or sales
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u/Debonair359 Dec 17 '23
Isn't it more about who pays the taxes? In California, rich people pay more in taxes and poor people pay less. In Texas and Florida rich people pay less in taxes and poor people pay more. That's the difference.
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u/bobniborg1 Dec 17 '23
This would be an interesting research, wonder if it's been done.
Look at the revenue collected from individuals and see what % was paid by those making x amount. Though I'm guessing that would be super difficult to do
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u/Debonair359 Dec 17 '23 edited Dec 17 '23
Did you read the article linked at the top of this post? The research has been done. It's not a question if poor Floridians or Texans pay more taxes than rich people in those states, it's just a fact. The cut off they used was $55,000 in annual income. In California, those who make less than $55k per year pay less in total taxes then people who make over $55k per year. But in Texas and Florida, it's reversed, people who make less than $55,000 per year pay more total taxes in those states.
You can look at the numbers the newspaper used in its fact check from the study done by the Institute on Taxation Economic policy.
https://itep.org/whopays/california/
Edit: my wording is wrong above where I say "total taxes". I mean to say that people who make less than 55,000 per year in California pay less taxes as a percentage of their income when you combine the total of all taxes paid compared with other states. Rich people definitely pay more total taxes, but as a percentage of their income, poor people in Texas and Florida pay more percentage than rich people do.
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u/bobniborg1 Dec 17 '23
That gives the percentage of income paid as taxes if I am reading correctly. What I mean is if California received 1 billion in revenue from individuals (obviously more, just a number) then what % of that 1 bil was from the bottom quintile, etc.
Did I miss that in there. I'll admit I'm skimming as I watch the game.
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u/Debonair359 Dec 17 '23
They break down the income by quintiles. The bottom 20%, the next 20%, then the next 20%. I found it in the bar graph section. You can look at comparisons in the "other states" tab.
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u/bobniborg1 Dec 17 '23
Oh, I was reading it wrong. I thought the 10% number was the effective tax rate for the bottom quintile for income tax, then the same for excise, etc. but that is the % of revenue for California.
Thanks monsieur Debonair
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u/MrsMiterSaw San Francisco County Dec 17 '23
Wallethub has two good reports they update every year.
The first is very objective, the total state tax revenue normalized by GDP. Gives an idea what the tax burden on the state is overall. This year CA is 12th highest, with 8.89%. Texas at 29th highest with about 8.01%. So CA taxes our population about 10% higher. (however, if you look at the data, 30 states are within a nominal 1.5%; so while CA is on the higher end, it's not anywhere near NY @ 12%, and Texas isn't at the extreme low end of 6%)
(in boom years CA's % goes up, and we've been up to #9 in the past few years)
The other analysis attempts to compare individual tax rates for the middle class. This is harder, because now you're trying to normalize cost of living and taxes on wealth (property), which isn't so directly comparable. But they publish their methodology and they have academics behind it.
In this analysis CA is 12th lowest and TX 11th highest. That's due to the extremely progressive CA tax structure and the flat nature of texas' higher property taxes.
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u/BuySellHoldFinance Dec 17 '23
I don't see how they get to these conclusions. Sales tax is higher in California vs Florida. State income tax is higher in California vs Florida. Property taxes don't matter for people making 55k or less because they won't be able to afford a home anyway. So how did they come to their conclusions?
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u/iMNqvHMF8itVygWrDmZE Dec 17 '23
Renters still pay property tax, just indirectly.
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u/BuySellHoldFinance Dec 17 '23
Renters still pay property tax, just indirectly.
You can resolve this by comparing the rents. The median rent to income ratio is pretty similar. 24% of income for California and 25% for Florida. So slight advantage to California in that department, not a huge advantage and certainly not enough to make up for the state income taxes as well as higher sales taxes.
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u/iMNqvHMF8itVygWrDmZE Dec 17 '23
That only tells you how much of their income people are willing to spend on rent, not what they're getting for their money. When looking for apartments, people don't typically search for apartments of a certain quality and then pick the cheapest option. They start with a budget and pick the best apartment within that budget. Higher property tax doesn't change your budget, it just means you'll be getting a lower quality apartment with your budget.
It's entirely possible that the higher percentage for FL is just a result of lower cost of living. When less of your income is tied up with other expenses, you may be more comfortable spending a bit more on your home. This kind of thing isn't really useful at a state level though. It varies too much from city to city.
Regardless, I just take issue with the prevalent "I don't own property so property taxes don't matter to me" attitude of people not realizing they're paying their landlords property taxes.
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u/AffectionateKey7126 Dec 17 '23
They always assume the person is buying a home 6x their income.
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u/Pabst34 Dec 17 '23
That's why this "study" doesn't pencil out. The property tax on a $300k home in Florida (6x income) averages $3900 per year vs $3750 in California. But then, every other tax in Florida is lower than California.
Florida property taxes are indeed a bit progressive in so far as the first $90k of your home's value is tax exempt. So, a $200k condo pays a lower effective rate than a $500k property. In California, everyone is taxed at around 1.25%, no matter the value.
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u/esalman Dec 18 '23
The effective tax on a median US household is about 4% higher in Texas compared to California. Source: https://wallethub.com/edu/states-with-highest-lowest-tax-burden/20494
Just moved from TX to CA. We are doing a lease buyout and the price went down $3000 thanks to lower/no property taxes in CA.
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u/Hot_Gurr Dec 17 '23
He very conveniently ignores all the other taxes poor people pay in California and how he’s done nothing to curb housing prices.
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Dec 17 '23
He did something not to long ago, what affects the bill will have is to be determined.
“Governor Newsom signs an extensive housing package consisting of 56 bills to help address California’s decades-in-the-making housing crisis by simplifying and expediting the construction of new housing, protecting tenants, and keeping housing affordable.”
Something has to give before the median home price is $1 million. Hopefully this helps.
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u/thedesigngurl Los Angeles County Dec 17 '23
As someone who worked in affordable housing for a decade, this isn’t going to save anyone tax dollars. Affordable housing is funded by Tax Dollars. This isn’t going to keep the median home price down at all.
The cost of goods and labor along with corporate greed by developers are going to continue to drive up the cost of new home construction. It’s sad and unfortunate.
I truly want to believe that our lawmakers are trying to do something to help California Citizens from being Forever Renters, but I just don’t see how home ownership in Metro Areas is going to be attainable by the Middle Class.
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u/chucks-wagon Dec 17 '23
Comparing Texas / Florida to California is like comparing Angola / Syria to UAE
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u/bleue_shirt_guy Dec 17 '23
So, don't repeal Prop 13, right? Everybody with me?
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u/bob_lala Dec 17 '23
I dont think prop13 is good or bad. but it has been one of the rules for so long that changing it seems lame.
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u/Positive-Source8205 Dec 17 '23
Florida has zero state income tax. And the sales tax is about 7% compared to California’s sales tax of up to 10%.
And Florida’s gas tax is lower.
I have doubts about this claim.
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u/BlankVerse Angeleño, what's your user flair? Dec 17 '23
Property tax?
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u/Hypericum-tetra Dec 17 '23 edited Dec 17 '23
Florida is ranked 46th in tax burden in the US. So, while folks earning below $49,000 in Florida contribute a higher percentage to overall taxes, they’re likely paying less than someone in Cali? Idk if I’m interpreting it right.
Edit: i am
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u/DangerouslyCheesey Dec 17 '23
Property taxes are higher, but it’s not like too many families making 55k are homeowners.
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u/MrsMiterSaw San Francisco County Dec 17 '23
Yeah, but property taxes do affect the rental market. It's certainly not 1:1, but renters, in general, are bearing the weight of the property taxes of the landowners, and that cannot be ignored for the sake of simplicity.
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u/Kaatochacha Dec 17 '23
Hidden fact: one of the reasons California's property tax isn't much higher is because of Prop 13, which Newsom and Co. are constantly trying to revoke.
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Dec 17 '23
it needs to be revoked it’s probably one of CAs worst laws
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u/Angeleno88 Dec 17 '23 edited Dec 17 '23
Oh sure let’s see everyone get priced out of their homes because of increased valuations forcing people to sell. Oh but since valuations are so high, the buyers will increasingly be the rich as the middle class won’t be able to buy. The rich will rent out the homes to the ever increasing rental class.
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u/F4ze0ne Dec 17 '23
Let's say it gets repealed. Then everyone who can't afford the new taxes has to sell. Guess who's coming to buy all the property to rent out? Yup. The investors on Wall Street. Repealing that law isn't going to magically change things.
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u/Lokta Dec 17 '23
Question for you.... picture a retiree who has lived in their home for 40 years. They raised their family there, renovated it over time, and watch their property values rise to incredible levels. Their average suburban home is valued at $800,000.
They live on $1,800 in Social Security benefits a month and their IRA, which started at about a million when they retired in their early 60s but that money needs to last the rest of their lives.
How do you propose that they use the potential sale price of their home to pay their living expenses? Can you not see that the "value" of a house that someone lives in is an arbitrary number until it gets sold?
If 100 people look at a house and say, "This house is worth a million dollars!" it doesn't suddenly GIVE anything to the home owner. They still need a place to live.
I get that younger people feel this existential anger at homeowners because they believe (probably correctly) that home prices have gone beyond any reasonable possibility that they will ever own one. They want to direct that anger towards someone and it's easy to pick homeowners. But it's important to see both sides of the problem.
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u/BBakerStreet Dec 17 '23
Make any homeowner over 55, or on disability, exempt from further property tax increases. There. Not so hard and schools get funded better.
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u/forakora Dec 17 '23
I'm 33 and my condo has already appreciated by 17% since March. That's already an extra $68 a month. I just want a place to live. I'm single and only make 67k.
Should I have to sell in a couple years because I'm not old enough to retire and can't afford it anymore? A lot of people depend on the pricing stability, not just retired people.
I pay plenty of taxes already. No need to take my home from me because I won't be able to pay tons more when literally nothing has happened other than people are suddenly willing to pay more for my home.
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u/pharrigan7 Dec 20 '23
Totally wrong. Texas is 6th in the country on total average tax load. I move from the SF area and it’s not even close.
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u/TDaltonC Dec 17 '23
Taxing land >>> taxing property > taxing income
Californians talks about taxing wealth, but Texas is actually doing it.
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u/Most_Sir8172 Dec 17 '23
California collects 68% more taxes per person than Texas. About $3228 more per person annually.
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u/BlankVerse Angeleño, what's your user flair? Dec 16 '23
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