2 ms·
> and plenty of Texans who moved to California excepting tax shock and were pleasantly surprised when their total tax bills were several thousands lower in CA.
by xyzzyz 4y ago
> and plenty of Texans who moved to California excepting tax shock and were pleasantly surprised when their total tax bills were several thousands lower in CA.
Can you explain to me how is this possible? Like, an realistic example scenario.
- gamblor956 4y agoHousing in Austin is the same price as it is in the LA area but our property taxes are way lower in CA thanks to Prop 13, so even with state income tax you come out ahead in SoCal. This is true even with the SALT cap, though single income earners will not see as much of a benefit moving to CA. Also, the FUD about CA income taxes always ignores the calculation of tax liabilities in a progressive scheme, so the tax burden is always wildly overstated. OTOH, if you're willing to move to less nice parts of TX you will save money on taxes compared to CA. But you'll find out pretty quick why housing is cheaper there.