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Texas is one of the highest tax states in the union. Simply because there is no income tax does not imply low taxation. For instance, property taxes in Willia
by jhayward 8y ago
Texas is one of the highest tax states in the union. Simply because there is no income tax does not imply low taxation.
For instance, property taxes in Williamson County (Austin suburb, extremely conservative, are at 3.08% for new construction homes. Compare that to any other state.
- jakelarkin 8y ago... that's compared to +1.5% in SF/Alameda on houses 2-3x the cost and worse size/quality (and up to a 1.5% transfer tax in some cities). California has the highest state income tax, near top sales tax rates and if you are a recent home buyer some of the highest absolute property taxes (thanks to the price dynamic described above). Plus you get screwed on federal SALT caps, mortgage interest deduction and maybe AMT. I'll gladly take your 3% if there were more options for interesting places to work and it was not 110 degrees in the summer.
- sct202 8y agoThat's comparable to the 2-3% in suburban Illinois (where I live now) and Ohio (where my family is from) and both of those states also have state income tax on top of that. By this ranking, the tax burden in Texas is 33rd out of 50 states so it's not a low tax state, but it is definitely on the lower tax end of the spectrum. https://wallethub.com/edu/states-with-highest-lowest-tax-burden/20494/ https://wallethub.com/edu/states-with-highest-lowest-tax-bur...