Is Texas economy really that good, or is Texas a bit overrated? (Houston: RV parks, foreclose)

[atxcio]

I believe it is in the state constition that there can be no tax levied by the state of Texas on personal income.

The state makes up for it with sales tax and higher than normal property taxes (which pay for schools and local services instead of state money)... Businesses in Texas also pay a revenue-based tax which has recently become quite oppressive.

[ZeroTX]

Also note, "property taxes" in Texas refers to your house. Real estate. There are some states that tax you on your CAR and other goods that you own. That's going a bit far.

[TexasHorseLady]

Well, we do have vehicle registration annually. Costs in the neighborhood of $40-60 year (depending on the size of your vehicle).

[ulsterscot]

Originally Posted by TexasHorseLady

Well, we do have vehicle registration annually. Costs in the neighborhood of $40-60 year (depending on the size of your vehicle).

One of the things I don't miss about Georgia. I paid $300 a year for my car.

[Huckleberry3911948]

it might have a poor economy but texas is never overrated. i love texas.
big bend, garner state park.
marble falls. take your breath away.
and women that are so beautiful it will make your jaw go slack.

[SweethomeSanAntonio]

Originally Posted by Lakewooder

Texas Cities Dominate Best:

Best And Worst Bang For The Buck Cities - Forbes.com

Wow, San Antonio and Austin are the top two.

[autotech4dallas]

Originally Posted by Huckleberry3911948

it might have a poor economy but texas is never overrated. i love texas.
big bend, garner state park.
marble falls. take your breath away.
and women that are so beautiful it will make your jaw go slack.

Yes! Your posts never cease to amaze me.

[Jammie]

Originally Posted by Lakewooder

Texas Cities Dominate Best:

Best And Worst Bang For The Buck Cities - Forbes.com

This list is really surprising. It goes against several stats so either things are changing or it's not accurate or I'm not reading it correctly.

Different stats show that Houston and SA are a cheaper place to live then either Dallas or Austin. Austin tops the list for higher COL in other reports, yet turns out extremely well in this one.

Also included are Denver and a city in the PNW. Both were always extremely expensive cities to live in.

Does this possibly have something to do with homes holding their value in those areas?

[autotech4dallas]

Originally Posted by TexasHorseLady

Well, we do have vehicle registration annually. Costs in the neighborhood of $40-60 year (depending on the size of your vehicle).

I am glad you mentioned that because I plan on purchasing a small Honda Civic hatchback (between the years of 1992-2000) that I just truly love. They are great, reliable cars that I can maintain on my own and save money.

[blueskies49]

Originally Posted by ZeroTX

State income taxes are STATE income taxes. We don't have a state income tax. There's nothing to be "exempted" from. If you have state income taxes in your state, it's because your STATE decided to do so.

We pay property and sales taxes. Since it's possible to live in a fairly low-cost home, that makes the potential cost of living low. Now, if you choose to go out and spend 300k on a McMansion or a fancy townhouse in one of our big cities, then you made the choice to pay the city/county more in property taxes.... on the other hand, you can easly buy a home in nearly any part of Texas in the 90-135k range if you so choose. Those who say you can't are only looking at new construction. I work under the assumption that humans can dwell in something that wasn't built last week.

But you CAN find new construction in the 90-135k range in Texas. My daughter bought her new house for 131k five years ago. And even now, at least where I've seen in east Fort Worth and south Arlington and Grand Prairie you can still find new subdivisions with prices that fall within that range.