6 ms·
You probably get far more for your money though. (Property/land-wise) I also remember reading stories years ago about CA/SV businesses that had offices up in C
by ourcat 6y ago
You probably get far more for your money though. (Property/land-wise)
I also remember reading stories years ago about CA/SV businesses that had offices up in Colorado as a back-up for when 'The Big One' hits.
- JKCalhoun 6y agoYes, ironically property taxes are much higher in Texas than California. And toll roads, etc... In short, the money has to come from somewhere — if not from income tax then it will be from somewhere else.
- jdhn 6y ago>ironically property taxes are much higher in Texas than California. The rate may be higher, but the total paid will probably be less.
- hnburnsy 6y agoState/Median property tax rate/Median property tax CA/0.74%/$2839 TX/1.8%/$2275 Source: http://www.tax-rates.org/california/property-tax http://www.tax-rates.org/california/property-tax
- novok 6y agoThanks to not having a prop 13 low prop tax house, my prop tax rate was effectively 1.5% in california. Prop tax is cheap in CA, if you're old!
- wavefunction 6y agoHe can just stick a few livestock on a corner of his property and get an Agriculture exemption.
- JKCalhoun 6y agoI thought you had to be "grandfathered" (poor word choice, I know) into that.
- wavefunction 6y agoI think as long as you have enough acreage you can qualify. Texas privileges wealth so I imagine he can gain the privilege if it's limited as you've described.
- missedthecue 6y agoA 2% tax rate on a home in Texas is much less in dollar terms than a 1% tax rate on a home of equivalent size in California
- somethoughts 6y agoThe challenge is if you need to work in tech and eventually need to commute daily/weekly to headquarters. You'll need to be within 30 minutes of Austin if you want to be in new tech (Apple, Google) or 30 minutes of Dallas/Houston if you are okay with legacy tech (HP, IBM). And you'll want to be in a good school district with like minded high income folks with restaurants options. You'll likely be paying close at best the equivalent of Silicon Valley housing.
- GhettoChild 6y agoNot at all.
- somethoughts 6y agoCasually surfing around Austin's future Apple headquarters on Redfin, for a Single Family with school ranking scores above 7-8 , I'm seeing 1M+?
- GhettoChild 6y agoProperty Tax rates are higher in Texas. But there is no major city in California near a job center where I am able to get a nice move in ready home for 250k. A comparable home to that house that is 250k in California will be paying more in property taxes annually. https://www.redfin.com/TX/Houston/9730-Arched-Oak-Dr-77095/home/40205907 https://www.redfin.com/TX/Houston/9730-Arched-Oak-Dr-77095/h...
- CrazyDave 6y agoThe percentage of someone's income that they spend on property/land probably goes down as their income goes up. For someone like Elon Musk, the lower tax rate is probably more enticing than the lower property/land costs.