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As someone who lives in California and not interested in moving back to Texas, this analysis is pretty bad. Not factually wrong, just shining the spotlight in t
by thephyber 3y ago
As someone who lives in California and not interested in moving back to Texas, this analysis is pretty bad. Not factually wrong, just shining the spotlight in the wrong places.
If you were going to make a good effort argument, you would start with the largest expenses for an average family/household. Rent / home prices, food, car prices, gas prices, tuition, day care, utilities are all higher in CA than TX. The delta in property taxes is not significant when you consider that rent/property is far better (larger yard, more rooms, newer neighborhoods, etc) for most people in TX.
Also, the reason property taxes are lower in CA is because Prop 13 caps their growth rate until the property changes hands. The macro effect of Prop 13 is to create fewer transactions, this artificially reducing sale inventory and thus increasing property purchase prices. Your comparable annual upkeep may be a smaller percentage of the purchase price, but might end up being a larger dollar figure.
- yieldcrv 3y agomy post isn't about average, its pretty clearly about people that can afford living in either environment there are headlines about everyone being driven, and headlines about just the rich leaving but for the same reasons the rich can navigate california extremely well on the properties, yes a comparable costing property elsewhere would like be much larger in those other states, while the larger property in california being so much more expensive that the cash outlay for the possibly low % property tax is still higher, I’ll concede that