property taxes in TX

[hoffdano]

Originally Posted by TXknitter

We have lived and had homes in four different states. I find that we tend to think that because TX doesn't have an income tax that we are doing good. Well, they get plenty out of us with one of the largest sales taxes in the nation plus property taxes. When we lived in OR, we spent about the same to live to tell you the truth - the taxes were just spread around and "called" other things. Just my humble thoughts...

There are a number of states that have sales taxes equal or higher to Texas.

Property taxes are in the range of 2-2.5% in most parts of Texas. The actual $$ of course depends on the value of the home.

But there is no doubt that income tax = 0.

[malamute]

Originally Posted by CHEWY12

cdlena,

Do you think the property tax situation will get any better ?

chewy12

I expect it will get worse. You have too many coming who cannot contribute and they have the very very high birth rates, those paying for everything aren't reproducing or growing in numbers. California, Arizona, Oklahoma aren't working out for them as well now, so many are moving to Texas instead.

Those living in $200,000 homes tend to have one family in them while those in the $40,000 homes tend to squeeze 3 or 4 large families into them.

[usc619]

Originally Posted by malamute

I expect it will get worse. You have too many coming who cannot contribute and they have the very very high birth rates, those paying for everything aren't reproducing or growing in numbers. California, Arizona, Oklahoma aren't working out for them as well now, so many are moving to Texas instead.

Those living in $200,000 homes tend to have one family in them while those in the $40,000 homes tend to squeeze 3 or 4 large families into them.

This is one of many reason I think TX should go with Income taxes and lower Property taxes, the reason CA failed is because property taxes is wayyyy too low(not to mention it is a FIXED rate at sales price)...I think we need to find a balance and weed out the dead weight in Austin.

I find it very hilarious when people point the finger at other state's problems when they can't even tell you why it came about in the first place..... Typical folks who never been outside of the state they were born in lol

[TexasHorseLady]

NO INCOME TAX IN TEXAS! Please, if you came here from somewhere else, especially if it's because where you came from is cratering, don't try to make Texas over into something you're more comfortable with just because it's like it was where you came from.

Our system is clearly working pretty well for us.

[usc619]

Yes to income tax in texas!

[lakehighlands]

Originally Posted by usc619

Yes to income tax in texas!

Not going to happen.

[hoffdano]

Originally Posted by usc619

This is one of many reason I think TX should go with Income taxes and lower Property taxes, the reason CA failed is because property taxes is wayyyy too low(not to mention it is a FIXED rate at sales price)...I think we need to find a balance and weed out the dead weight in Austin.

I find it very hilarious when people point the finger at other state's problems when they can't even tell you why it came about in the first place..... Typical folks who never been outside of the state they were born in lol

California may indeed have too low of a property tax. Prop 13 has many unintended consequences such as limiting the number of homes offered for sale. But a middle-income CA resident buying a $500K home in San Jose will still pay $5K per year in taxes. About the same as someone in Texas paying 2.5% on 200K home.

California is starving for tax revenue because of its heavy reliance on income taxes. Those sources of tax revenue fall quickly when the economy weakens as both personal and corporate income fall. Corporate income in particular falls radically when businesses change from profitable to break even or operating at a loss (no profit = no income).

But California's most basic problem is far too much spending.

An income tax is highly unlikely in Texas simply because it forces the legislature to work far harder to spend money. I like it that way.