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Property taxes. This also means more taxes stay local and in the communities paying them. Of course there are opposing viewpoints on if this is good or bad. But
by nemo44x 6y ago
Property taxes. This also means more taxes stay local and in the communities paying them. Of course there are opposing viewpoints on if this is good or bad. But the state still gets a good portion of those taxes.
On the east coast some of our states have high state income tax AND high property taxes (and property is very expensive) and I’m not sure the services or infrastructure are any better than in states like Texas. At least in California your property tax is locked in, which has its own problems of course.
At least where I live, a good deal of today’s tax revenues go to pensions to people that retired to Florida or Arizona (or some other tax free state) in their 50’s. I think Texas has avoided this trap many states are in today.
- lotsofpulp 6y agoThose east cost states just have a lot of debt (including their unfunded deferred compensation such as defined benefit pensions and retiree healthcare), plus debt from old infrastructure that needs to be updated.