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re: Why are housing costs so much lower in Texas than Louisiana
Posted on 5/15/17 at 8:26 am to The Torch
Posted on 5/15/17 at 8:26 am to The Torch
quote:
The price per sq foot may be less but the taxes will eat your lunch.
My property tax bill for this year is nearly 10k.
Adds another $800 + a month to your escrow
I feel your pain... Fort Bend property tax (pardon the pun) bends me over. Mud and property tax combined are 10k....
0
Posted on 5/15/17 at 8:31 am to Will Cover
What about Oak Alley, Legacy Hills, Moss Pointe, and other neighborhoods off 74? Are there values increasing?
Posted on 5/15/17 at 8:34 am to eyepooted
It's all a wash. The housing prices are lower because it's the only way people can afford housing with the associated property tax. They can't sell 350k houses like crazy here because your note is $2500 a month, whereas in LA it might only be $1500. People say the income tax offsets it. I think in total, it's a wash.
To those saying they'd rather rent, because property taxes are too high.....you think your landlord is just paying those taxes out of the kindness of his heart? Like they aren't charging you enough to cover them? I can understand reasons for renting.....property taxes aren't one of them.
To those saying they'd rather rent, because property taxes are too high.....you think your landlord is just paying those taxes out of the kindness of his heart? Like they aren't charging you enough to cover them? I can understand reasons for renting.....property taxes aren't one of them.
Posted on 5/15/17 at 8:42 am to KG6
quote:
0. People say the income tax offsets it. I think in total, it's a wash.
It is not like Texas is turning down money. I do prefer consumption taxes.
This post was edited on 5/15/17 at 8:43 am
Posted on 5/15/17 at 8:44 am to KG6
quote:
To those saying they'd rather rent, because property taxes are too high.....you think your landlord is just paying those taxes out of the kindness of his heart? Like they aren't charging you enough to cover them? I can understand reasons for renting.....property taxes aren't one of them.
While you are correct that renters are paying for prop taxes.
There's a HUGE difference between paying 1400 a month and 2200 a month for living space.
Posted on 5/15/17 at 8:45 am to tom
quote:
Because property taxes are high in Texas.
this!
just moved from Little Elm, property tax was 2.75 i think.
comp's here in LA would cost me less than a grand a month.
Posted on 5/15/17 at 8:45 am to eyepooted
No income tax
Posted on 5/15/17 at 8:57 am to Dire Wolf
quote:
It is not like Texas is turning down money. I do prefer consumption taxes.
I much prefer paying property taxes. But I do realize it's mostly because I live in a good area that puts the money to good use.
quote:
There's a HUGE difference between paying 1400 a month and 2200 a month for living space.
Obviously, but you aren't getting the same size/quality place either. About the only thing a renter benefits from is when they don't have a down payment large enough to get their monthly note down, or if they are in a fluid situation where they need to be able to move regularly. Otherwise, it's just a personal preference. If you rented an identical house to mine in the same area, you will pay 500 more per month.
Posted on 5/15/17 at 8:58 am to Tiger Prawn
Yeah property tax isn't a big deal once you realize your sales tax is rt over 10% and you have income tax as well.
I don't have kids, but the whole paying for school thing must add up.
I don't have kids, but the whole paying for school thing must add up.
Posted on 5/15/17 at 9:00 am to KG6
You were correct... it's all a wash. Coming from LC to Katy, it all levels itself out. I will still say, the housing market (house and land prices in general) in Lake Charles is down right tarded.... It's fricking Lake Charles but you'd swear it was the Hamptons.
Posted on 5/15/17 at 9:03 am to eyepooted
No income tax? It's made up through property tax. The housing market in Austin is certainly not cheap.
Availability? I'm not sure how much equity you can get into the home as Houston has constantly been building new developments and subdivisions for the past 30 or 40 years. You can get a big, new house for $300-400 there though.
quote:
Houston
Availability? I'm not sure how much equity you can get into the home as Houston has constantly been building new developments and subdivisions for the past 30 or 40 years. You can get a big, new house for $300-400 there though.
This post was edited on 5/15/17 at 9:04 am
Posted on 5/15/17 at 9:03 am to The Torch
That's not much more than what a lot of Orleans Parish is paying
Posted on 5/15/17 at 9:47 am to Paul Allen
quote:
What about Oak Alley, Legacy Hills, Moss Pointe, and other neighborhoods off 74? Are there values increasing?
Yes, as far as I can tell.
Two houses in Moss Pointe went under contract in less than 24 hours. Both received full asking price and one had 3 offers during this time period.
For Moss Pointe, the subdivision use to range from $133 to $136 per sq. ft (existing structures) for many years. Houses are now being sold at the $150 to $155 per sq. ft mark.
Also, I have been made aware that one house in Moss Pointe recently listed was asking for $162 per sq. ft. because they had an outdoor pool. It is under contract but I do not know what each party negotiated at this time.
I can't imagine that Oak Alley, Twin Oaks or Legacy Hills would be any different.
This post was edited on 5/15/17 at 9:48 am
Posted on 5/15/17 at 9:54 am to Will Cover
YOU NEVER TRULY OWN YOUR LAND IN TEXAS
Posted on 5/15/17 at 9:57 am to eyepooted
Combination of factors - the property taxes are significant there (but no state income tax) - so on a 200K house you might be paying 8-10K per year in property taxes. So, that sort of gets baked in to what people can afford to buy and the market adjusts.
Land is plentiful and therefore less expensive. The cheap immigrant labor helps as well.
Land is plentiful and therefore less expensive. The cheap immigrant labor helps as well.
Posted on 5/15/17 at 10:04 am to RonLaFlamme
quote:
property taxes are significant there (but no state income tax
translation: no chance i retire in Texas
Posted on 5/15/17 at 10:06 am to Rouge
Rouge we get it, you hate Texas.
Posted on 5/15/17 at 10:08 am to LSUfanNkaty
quote:
the housing market (house and land prices in general) in Lake Charles is down right tarded.
Been this way in New Orleans and it's suburbs for at least 10 years now. Just stupid housing prices.
Posted on 5/15/17 at 10:09 am to Rouge
quote:
translation: no chance i retire in Texas
As much as I like Texas, I'd rather retire in Tennessee (no state income tax as well), plus there is a much better chance of experiencing all four seasons.
Posted on 5/15/17 at 10:11 am to eyepooted
Cost of housing has always been stoopid in Louisiana....assume it has to do with landmass
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