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> people in Cupertino pay lower overall taxes than people in Austin Only because most people who can afford to buy in Cupertino aren't paying for it with earne
by tfehring 4y ago
> people in Cupertino pay lower overall taxes than people in Austin
Only because most people who can afford to buy in Cupertino aren't paying for it with earned income, right? Google tells me a $2.5M mortgage has minimum payments of $230k a year, anyone who makes enough to afford that is probably paying at least $50k/year in CA state income tax, on top of ~$25k in property taxes. Austin has high property taxes but I don't see them coming anywhere close to that, and the sales tax is lower.
- jedberg 4y agoProperty taxes are a lot lower in California because of Prop 13. For a new buyer, they are about the same. But after just a few years, the Texas property tax will be much higher because California property tax pretty much doesn't go up after you buy. Also energy taxes soak Texans because they use a lot more energy than in California due to the hotter summers and colder winters.
- foogazi 4y ago> For a new buyer, they are about the same. But after just a few years, the Texas property tax will be much higher But do you have 1,700sqft shacks going for $3.2M in Texas ?