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re: Name your top 5 U.S. Cities to live in
Posted on 2/20/19 at 10:11 am to nola000
Posted on 2/20/19 at 10:11 am to nola000
quote:
Property tax is much harder to avoid
Don't own property, don't pay the tax. 9ts quite simple.
quote:
It also makes it very difficult to afford to own rental property
It's priced in, this is a terrible arguement.
quote:
You also don't pay it your entire life. Eventually you retire.
You don't think you pay tax on money just because you retire? Unless you are retiring entirely on Roths or regular investment accounts (you aren't) you are wrong.
Tax planning is infinitely easier with property tax than income tax.
Source: me, CPA
Look, you are digging in to try to he right and make your Louisiana is just as good as anywhere (its objectively not), but don't make things up to try to make your point. It just makes you look dumb.
This post was edited on 2/20/19 at 10:13 am
Posted on 2/20/19 at 10:16 am to DFWgolfer318
Santa Barbara
Austin
Colorado Springs
Charleston
Port St Lucie
Austin
Colorado Springs
Charleston
Port St Lucie
Posted on 2/20/19 at 10:55 am to DFWgolfer318
quote:
Don't own property, don't pay the tax. 9ts quite simple
So you'll be homeless? You don't think property taxes are built into the rental price? I'm in the rental game. I know how it works. In counties/parishes/zip codes where the property taxes and home values are high, there are no rentals. No one can afford to keep them as rentals if they're not going to live in them. In places where the property taxes and home values are low you get shite slumlord rentals and renters. Places where the property taxes are low and the home values high, don't exist. Accept in a few select places in Louisiana.
quote:
It's priced in, this is a terrible arguement
Yeah, that's what I just said. I'm not sure what we're arguing about here anymore. If property taxes are high it doesn't matter if you own property or rent, that cost is going to be forwarded to you one way or another.
Without going into too much detail and ruining it for myself and my family, let's just say this. There's a way around everything. I find it's way easier to skate around high income taxes in LA then it is to skate around high property taxes in TX. Obviously, there's a way to do both but we live in a really nice house and pay almost $0 a year in property tax because of the way Louisiana assesses property tax and we are able to live an extremely comfortable lifestyle off of one part-time income and a big part of that is because of rental property we were able to acquire and in an LLC.
Texas is great for people who follow a basic traditional life path. Graduate high school, get a four-year college degree, get a decent job, hope to move up, wage slave till you're 65, retire, die.
For the rest of us there's places like Louisiana which have a lot more opportunity for people with a little brain power. Big Fish Little Pond.
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