Of note....in Houston, TX, real estate taxes are 'killing" me every darned year.
They are roughly 2% per year per current year RE value...you can have 3X of the house (in $) in Cali, 4X in Colorado for the same tax.
As valuation rises, that 2% becomes more and more. The only limit of increase is 10% increase max for the year, but if, say, property value increased 20% in a year, this means that you would get hit with 10% tax increase two years in a row, unless value drops in year 2.
They are roughly 2% per year per current year RE value...you can have 3X of the house (in $) in Cali, 4X in Colorado for the same tax.
As valuation rises, that 2% becomes more and more. The only limit of increase is 10% increase max for the year, but if, say, property value increased 20% in a year, this means that you would get hit with 10% tax increase two years in a row, unless value drops in year 2.
But no income tax.
You have to pay somehow for the quality electric infrastructure...
Not sure if this is serious or sarcastic considering how much shit my state gets for the icepocolypse a couple years ago. But TX is bringing big time mining companies into the state and they are balancing the grid.
The lack of a state tax IS quite nice. But yes, the property taxes are the other end of it all...
Yes I was being sarcastic about the cold event, I don't pretend to know what has been going on since then. And Texas is supposed to be "low tax".
As a Texan, I will say this. Ultimately it is pick your poison. But at least the policies in TX favor your actions rather than just your income. If I make a $2mm/yr salary and live in a house I bought in 1991 for 72k then I pay less taxes than if they take a percentage of my earnings. It's really all about time preference. TX is not perfect. But it is WAY better than many of the alternatives.
In my opinion, the entire US is in a state of "fucked". But TX and FL have been shining lights of the way we COULD do things.
