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Message
re: Avg taxes by state..
Posted on 1/10/19 at 3:19 pm to Choctaw
Posted on 1/10/19 at 3:19 pm to Choctaw
quote:
at the very minimum its double
About 3 times effective rate actually.
quote:
what? so i can just choose not to pay my property taxes? i don't think thats how it works
You can choose how much property you own, if any, and the value of that property.
Now at this point you're going to argue that having a home builds wealth. That's partially and usually true, but what if instead of paying 400k for a house and subsequently thousands in property tax instead I put that cash into other investments and end up with just as much or more in net worth?
1
Posted on 1/10/19 at 3:27 pm to Mingo Was His NameO
quote:
You can choose how much property you own, if any, and the value of that property.
well no shite. that goes with anywhere.
taxes on a $500,000 property in my hometown is about $2000. taxes i paid last year in Texas....about $13,000.
quote:
but what if instead of paying 400k for a house and subsequently thousands in property tax instead I put that cash into other investments and end up with just as much or more in net worth?
sure...but that has nothing to do with Texas raping people with property tax
Texas teases you with the "no state tax" but they're getting their money one way or another.
This post was edited on 1/10/19 at 3:28 pm
Posted on 1/10/19 at 3:27 pm to mylsuhat
quote:
quote: You have me confused, why would someone pay more federal income tax in Texas than say La? You have some bad information there. If the average income in LA is $45,000 and the average income in TX is $60,000 then the average Texan will pay more in Federal Taxes
Also more in sales taxes and gas taxes. Your property taxes are higher but so is the value of your real estate.
One thing I have learned being in Louisiana and Texas a lot over the last few years is that Texas does a lot more with the revenue they have coming in. They are expected, no demanded, to be efficient with the citizen's money. Not in Louisiana though.
Posted on 1/10/19 at 3:27 pm to cuyahoga tiger
quote:
Louisiana
quote:
Property taxes paid: $706.00
Not many 188K homes out there...
A more realistic example:
250K Home
(75K homestead exp)
175K tax value = 1110.00 (EBR)
Posted on 1/10/19 at 3:28 pm to Mingo Was His NameO
quote:
Tennessee lower than all those in op!
quote:
Lower federal income tax just means you make less money baw.
No state taxes means that we need less money, because we don't have to turn around and give it back to the government.
Posted on 1/10/19 at 3:31 pm to Choctaw
quote:
Texas teases you with the "no state tax" but they're getting their money one way or another.
They get less than most other states
Posted on 1/10/19 at 3:33 pm to cuyahoga tiger
quote:
Texas: $15,351.02 in Total Taxes Paid
FWIW, A friend of mine showed me a picture of his daughter's house near Galveston. House was about a $500K home which is nicer than average but not way out there. Annual property tax is $18K+
Posted on 1/10/19 at 3:34 pm to Choctaw
Choctaw whats your tax rate?
Tax rates greatly vary. For several years we paid 2.6%, moved to a larger house and higher property tax and pay 3.5% now.
Is your 13K with homestead exemption?
Tax rates greatly vary. For several years we paid 2.6%, moved to a larger house and higher property tax and pay 3.5% now.
Is your 13K with homestead exemption?
Posted on 1/10/19 at 3:37 pm to Mudminnow
quote:
Person in LA with the 300K house would have a property tax of $2,500.
But the LA property tax (EBR) less 75K homestead exemption
is approx 1425.00 not 2500.00
Posted on 1/10/19 at 3:42 pm to GetmorewithLes
quote:
FWIW, A friend of mine showed me a picture of his daughter's house near Galveston. House was about a $500K home which is nicer than average but not way out there. Annual property tax is $18K+
Exactly...Texas RAPES property owners.
That 500K home in LA is approx 2700.00 annual tax bill.
Posted on 1/10/19 at 3:49 pm to Mudminnow
quote:
Choctaw whats your tax rate?
i believe it was around 2.5%
quote:
Tax rates greatly vary. For several years we paid 2.6%, moved to a larger house and higher property tax and pay 3.5% now.
same here. it's still higher than anywhere i've lived in Louisiana. in my hometown it was 0.4%.
quote:
Is your 13K with homestead exemption?
it's around 11.5k with homestead
Posted on 1/10/19 at 3:53 pm to GetmorewithLes
quote:
House was about a $500K home which is nicer than average but not way out there. Annual property tax is $18K+
Galveston property tax before homestead on a 500K home would be $9,625. What did you see that was $18K?
I understand the deep pent up anger towards TX and its property taxes. But for me I don't mind as I have two children and property tax is nearly $6K, but have amazing schools.
Posted on 1/10/19 at 3:56 pm to Choctaw
Our tax rate in NW Houston increased dramatically because efore bwe lived in an established area that was built 20 yrs ago and moved to Bridgeland which is still building. But the section we live in has been established for 8 years and tax is starting to drop but wont see a significant drop for a few more years.
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