big house

[an]

[quote=pri_dk][quote=AN]Yep, 9.3% for someone making 100k is around 9000. […] [/quote]

9.3% is the progressive tax rate.

Also, need to factor in exemptions, deductions, etc.

Someone making $100K in CA will pay a lot less than $9K in state taxes.[/quote]
That’s why I round down, not up. You can run the exact number yourself.

[Eugene]

California is progressive. A married couple with 100K combined income and $1500/month in mortgage interest payments will pay $3500 in state income tax. A married couple with 60K combined income and $1500/month in interest payments will pay $1000. If they were fortunate to buy in 1980’s or 1990’s, their property tax can be as low as $1000/year.

Texas is regressive. There’s no state income tax, but every homeowner, regardless of income (unless he lives in a condo or a trailer park), will pay 5K+/year in property taxes, and many will pay 8-10K.

[Eugene]

California is progressive. A married couple with 100K combined income and $1500/month in mortgage interest payments will pay $3500 in state income tax. A married couple with 60K combined income and $1500/month in interest payments will pay $1000. If they were fortunate to buy in 1980’s or 1990’s, their property tax can be as low as $1000/year.

Texas is regressive. There’s no state income tax, but every homeowner, regardless of income (unless he lives in a condo or a trailer park), will pay 5K+/year in property taxes, and many will pay 8-10K.

[Eugene]

California is progressive. A married couple with 100K combined income and $1500/month in mortgage interest payments will pay $3500 in state income tax. A married couple with 60K combined income and $1500/month in interest payments will pay $1000. If they were fortunate to buy in 1980’s or 1990’s, their property tax can be as low as $1000/year.

Texas is regressive. There’s no state income tax, but every homeowner, regardless of income (unless he lives in a condo or a trailer park), will pay 5K+/year in property taxes, and many will pay 8-10K.

[Eugene]

California is progressive. A married couple with 100K combined income and $1500/month in mortgage interest payments will pay $3500 in state income tax. A married couple with 60K combined income and $1500/month in interest payments will pay $1000. If they were fortunate to buy in 1980’s or 1990’s, their property tax can be as low as $1000/year.

Texas is regressive. There’s no state income tax, but every homeowner, regardless of income (unless he lives in a condo or a trailer park), will pay 5K+/year in property taxes, and many will pay 8-10K.

[Eugene]

California is progressive. A married couple with 100K combined income and $1500/month in mortgage interest payments will pay $3500 in state income tax. A married couple with 60K combined income and $1500/month in interest payments will pay $1000. If they were fortunate to buy in 1980’s or 1990’s, their property tax can be as low as $1000/year.

Texas is regressive. There’s no state income tax, but every homeowner, regardless of income (unless he lives in a condo or a trailer park), will pay 5K+/year in property taxes, and many will pay 8-10K.

[briansd1]

I don’t see how taxing wealth (property) is regressive.

Under the current CA system of property taxes, someone living in a million dollar house in La Jolla (with the income to match and money and property passed down several generations) could be paying less than someone who just bought a new tract house in El Cajon. That’s pretty regressive to me.

BTW, the CA system suits me just fine.

[briansd1]

I don’t see how taxing wealth (property) is regressive.

Under the current CA system of property taxes, someone living in a million dollar house in La Jolla (with the income to match and money and property passed down several generations) could be paying less than someone who just bought a new tract house in El Cajon. That’s pretty regressive to me.

BTW, the CA system suits me just fine.

[briansd1]

I don’t see how taxing wealth (property) is regressive.

Under the current CA system of property taxes, someone living in a million dollar house in La Jolla (with the income to match and money and property passed down several generations) could be paying less than someone who just bought a new tract house in El Cajon. That’s pretty regressive to me.

BTW, the CA system suits me just fine.

[briansd1]

I don’t see how taxing wealth (property) is regressive.

Under the current CA system of property taxes, someone living in a million dollar house in La Jolla (with the income to match and money and property passed down several generations) could be paying less than someone who just bought a new tract house in El Cajon. That’s pretty regressive to me.

BTW, the CA system suits me just fine.

[briansd1]

I don’t see how taxing wealth (property) is regressive.

Under the current CA system of property taxes, someone living in a million dollar house in La Jolla (with the income to match and money and property passed down several generations) could be paying less than someone who just bought a new tract house in El Cajon. That’s pretty regressive to me.

BTW, the CA system suits me just fine.

[urbanrealtor]

[quote=briansd1]I don’t see how taxing wealth (property) is regressive.

Under the current CA system of property taxes, someone living in a million dollar house in La Jolla (with the income to match and money and property passed down several generations) could be paying less than someone who just bought a new tract house in El Cajon. That’s pretty regressive to me.

BTW, the CA system suits me just fine.[/quote]

Typically, taxation based on net worth (especially when that is disproportionately expressed as property value) over income level, is viewed as regressive.

The prototype polemic example is the old widow on ssi who only has the house she always lived in. That was the primary rhetorical referent when prop 13 was passed.

[urbanrealtor]

[quote=briansd1]I don’t see how taxing wealth (property) is regressive.

Under the current CA system of property taxes, someone living in a million dollar house in La Jolla (with the income to match and money and property passed down several generations) could be paying less than someone who just bought a new tract house in El Cajon. That’s pretty regressive to me.

BTW, the CA system suits me just fine.[/quote]

Typically, taxation based on net worth (especially when that is disproportionately expressed as property value) over income level, is viewed as regressive.

The prototype polemic example is the old widow on ssi who only has the house she always lived in. That was the primary rhetorical referent when prop 13 was passed.

[urbanrealtor]

[quote=briansd1]I don’t see how taxing wealth (property) is regressive.

Under the current CA system of property taxes, someone living in a million dollar house in La Jolla (with the income to match and money and property passed down several generations) could be paying less than someone who just bought a new tract house in El Cajon. That’s pretty regressive to me.

BTW, the CA system suits me just fine.[/quote]

Typically, taxation based on net worth (especially when that is disproportionately expressed as property value) over income level, is viewed as regressive.

The prototype polemic example is the old widow on ssi who only has the house she always lived in. That was the primary rhetorical referent when prop 13 was passed.

[urbanrealtor]

[quote=briansd1]I don’t see how taxing wealth (property) is regressive.

Under the current CA system of property taxes, someone living in a million dollar house in La Jolla (with the income to match and money and property passed down several generations) could be paying less than someone who just bought a new tract house in El Cajon. That’s pretty regressive to me.

BTW, the CA system suits me just fine.[/quote]

Typically, taxation based on net worth (especially when that is disproportionately expressed as property value) over income level, is viewed as regressive.

The prototype polemic example is the old widow on ssi who only has the house she always lived in. That was the primary rhetorical referent when prop 13 was passed.

[Author]

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