Reminder: Your massive property taxes are due

[urbanrealtor]

[quote=EconProf]urbanrealtor:
Google “property taxes by state per capita” and you will find CA ranks 27th, thus placing us about in the middle for this particular tax. Not sure whether illegals are included in the per capita calculation, but doubt it would much change the outcome.
We are 10th in total state per capita spending among states. That’s not lean.
The best measure of tax burden is all state and local taxes paid per personal income. CA ranks 6th using this overall indicator.
The figures are worse if you include the tax hikes coming due to the looming deficit.
To answer your question, I taught economics for 23 years, mostly at SDSU, and left the field to invest in real estate. But I claim no special expertise–anyone can look up these facts.[/quote]

And if our cost of living is 20-30% higher than average, that still makes our state spending about average.

I do agree that you can’t have average spending and lean taxation.

And yeah, high cost of living and lower than middle taxation does equal lean.

And no, your speculation on possible future taxes are not a real fact. At least not now.

[Anonymous]

“Texas is bad too. And New York? Fugetaboutit! They have all the high income and sales tax of CA, plus a property tax rate of anywhere from 4-7% depending on your county and regular reassessments.”

We left California to lock in my bubble gains in 2005, moving to Texas. We’ve considered coming back, but between house prices, economy and taxes, we’re not sure it’s such a good idea (looking at Phoenix).

To correct the above quote, Texas has NO state income tax. Sales tax is within about a 1/2% of what I was paying in California.

The 2800 sq ft semi-custom house with a pool in a great area of Plano that was $250k at purchase 2 years ago costs me about $4500 a year in property taxes. In a like neighborhood in the San Diego area, say Carmel Mountain or Rancho Penasquitos, that house would be, what?, $700,000? So the taxes at a minimum would be $7,000 a year plus we’d pay maybe $5,000 a year for income taxes based on our current incomes. Then, factor in the interest we are not paying on the much higher Carmel Mountain mortgage (we paid cash here) and you can see that the decision on whether to move back as housing prices come down isn’t so easy.

[Anonymous]

“Texas is bad too. And New York? Fugetaboutit! They have all the high income and sales tax of CA, plus a property tax rate of anywhere from 4-7% depending on your county and regular reassessments.”

We left California to lock in my bubble gains in 2005, moving to Texas. We’ve considered coming back, but between house prices, economy and taxes, we’re not sure it’s such a good idea (looking at Phoenix).

To correct the above quote, Texas has NO state income tax. Sales tax is within about a 1/2% of what I was paying in California.

The 2800 sq ft semi-custom house with a pool in a great area of Plano that was $250k at purchase 2 years ago costs me about $4500 a year in property taxes. In a like neighborhood in the San Diego area, say Carmel Mountain or Rancho Penasquitos, that house would be, what?, $700,000? So the taxes at a minimum would be $7,000 a year plus we’d pay maybe $5,000 a year for income taxes based on our current incomes. Then, factor in the interest we are not paying on the much higher Carmel Mountain mortgage (we paid cash here) and you can see that the decision on whether to move back as housing prices come down isn’t so easy.

[Anonymous]

“Texas is bad too. And New York? Fugetaboutit! They have all the high income and sales tax of CA, plus a property tax rate of anywhere from 4-7% depending on your county and regular reassessments.”

We left California to lock in my bubble gains in 2005, moving to Texas. We’ve considered coming back, but between house prices, economy and taxes, we’re not sure it’s such a good idea (looking at Phoenix).

To correct the above quote, Texas has NO state income tax. Sales tax is within about a 1/2% of what I was paying in California.

The 2800 sq ft semi-custom house with a pool in a great area of Plano that was $250k at purchase 2 years ago costs me about $4500 a year in property taxes. In a like neighborhood in the San Diego area, say Carmel Mountain or Rancho Penasquitos, that house would be, what?, $700,000? So the taxes at a minimum would be $7,000 a year plus we’d pay maybe $5,000 a year for income taxes based on our current incomes. Then, factor in the interest we are not paying on the much higher Carmel Mountain mortgage (we paid cash here) and you can see that the decision on whether to move back as housing prices come down isn’t so easy.

[Anonymous]

“Texas is bad too. And New York? Fugetaboutit! They have all the high income and sales tax of CA, plus a property tax rate of anywhere from 4-7% depending on your county and regular reassessments.”

We left California to lock in my bubble gains in 2005, moving to Texas. We’ve considered coming back, but between house prices, economy and taxes, we’re not sure it’s such a good idea (looking at Phoenix).

To correct the above quote, Texas has NO state income tax. Sales tax is within about a 1/2% of what I was paying in California.

The 2800 sq ft semi-custom house with a pool in a great area of Plano that was $250k at purchase 2 years ago costs me about $4500 a year in property taxes. In a like neighborhood in the San Diego area, say Carmel Mountain or Rancho Penasquitos, that house would be, what?, $700,000? So the taxes at a minimum would be $7,000 a year plus we’d pay maybe $5,000 a year for income taxes based on our current incomes. Then, factor in the interest we are not paying on the much higher Carmel Mountain mortgage (we paid cash here) and you can see that the decision on whether to move back as housing prices come down isn’t so easy.

[Anonymous]

“Texas is bad too. And New York? Fugetaboutit! They have all the high income and sales tax of CA, plus a property tax rate of anywhere from 4-7% depending on your county and regular reassessments.”

We left California to lock in my bubble gains in 2005, moving to Texas. We’ve considered coming back, but between house prices, economy and taxes, we’re not sure it’s such a good idea (looking at Phoenix).

To correct the above quote, Texas has NO state income tax. Sales tax is within about a 1/2% of what I was paying in California.

The 2800 sq ft semi-custom house with a pool in a great area of Plano that was $250k at purchase 2 years ago costs me about $4500 a year in property taxes. In a like neighborhood in the San Diego area, say Carmel Mountain or Rancho Penasquitos, that house would be, what?, $700,000? So the taxes at a minimum would be $7,000 a year plus we’d pay maybe $5,000 a year for income taxes based on our current incomes. Then, factor in the interest we are not paying on the much higher Carmel Mountain mortgage (we paid cash here) and you can see that the decision on whether to move back as housing prices come down isn’t so easy.

[SanDiegoDave]

The comparisons on home value don’t matter, because salaries in those other states are lower and health care costs are higher. Food also costs less here. I lived in Wisconsin for 30 years. Believe me: I’m saving more on a percentage basis here than I was there, and it’s due solely to Prop 13. If they repeal it we’ll probably leave CA.

[SanDiegoDave]

The comparisons on home value don’t matter, because salaries in those other states are lower and health care costs are higher. Food also costs less here. I lived in Wisconsin for 30 years. Believe me: I’m saving more on a percentage basis here than I was there, and it’s due solely to Prop 13. If they repeal it we’ll probably leave CA.

[SanDiegoDave]

The comparisons on home value don’t matter, because salaries in those other states are lower and health care costs are higher. Food also costs less here. I lived in Wisconsin for 30 years. Believe me: I’m saving more on a percentage basis here than I was there, and it’s due solely to Prop 13. If they repeal it we’ll probably leave CA.

[SanDiegoDave]

The comparisons on home value don’t matter, because salaries in those other states are lower and health care costs are higher. Food also costs less here. I lived in Wisconsin for 30 years. Believe me: I’m saving more on a percentage basis here than I was there, and it’s due solely to Prop 13. If they repeal it we’ll probably leave CA.

[SanDiegoDave]

The comparisons on home value don’t matter, because salaries in those other states are lower and health care costs are higher. Food also costs less here. I lived in Wisconsin for 30 years. Believe me: I’m saving more on a percentage basis here than I was there, and it’s due solely to Prop 13. If they repeal it we’ll probably leave CA.

[blahblahblah]

The 2800 sq ft semi-custom house with a pool in a great area of Plano that was $250k at purchase 2 years ago costs me about $4500 a year in property taxes.

Really? Aren’t property taxes in Plano around 2.15%? So your house appraised at $210K? That is a good deal for a great area of Plano.

Also how are your energy bills? Yard and pool maintenance?

Texas is a good value but it isn’t as cheap as you might think. It is less expensive than here on the whole.

[blahblahblah]

The 2800 sq ft semi-custom house with a pool in a great area of Plano that was $250k at purchase 2 years ago costs me about $4500 a year in property taxes.

Really? Aren’t property taxes in Plano around 2.15%? So your house appraised at $210K? That is a good deal for a great area of Plano.

Also how are your energy bills? Yard and pool maintenance?

Texas is a good value but it isn’t as cheap as you might think. It is less expensive than here on the whole.

[blahblahblah]

The 2800 sq ft semi-custom house with a pool in a great area of Plano that was $250k at purchase 2 years ago costs me about $4500 a year in property taxes.

Really? Aren’t property taxes in Plano around 2.15%? So your house appraised at $210K? That is a good deal for a great area of Plano.

Also how are your energy bills? Yard and pool maintenance?

Texas is a good value but it isn’t as cheap as you might think. It is less expensive than here on the whole.

[blahblahblah]

The 2800 sq ft semi-custom house with a pool in a great area of Plano that was $250k at purchase 2 years ago costs me about $4500 a year in property taxes.

Really? Aren’t property taxes in Plano around 2.15%? So your house appraised at $210K? That is a good deal for a great area of Plano.

Also how are your energy bills? Yard and pool maintenance?

Texas is a good value but it isn’t as cheap as you might think. It is less expensive than here on the whole.

[Author]

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