Originally posted by Vertnut
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Originally posted by Vertnut View PostOops. State income tax.
I've attempted to point this out to people, but generally speaking, Texas residents are the biggest homers in the world.
If you make $100k a year (dialing it back from dfwm standards but just using simpler #'s) and own a $400k house in North Dallas (Frisco, Allen, Mckinney - or any place around the metroplex for that matter) and have roughly 3% property tax then you are paying $12k per year, every single year you own that house. Which, based on your income works out to be 12%, as long as you are a home owner.
In areas surrounding Denver, which have a higher property tax rate on the same price property you can expect to pay between $3000-4000/yr. The stay income tax is around 4.3%, so figure $8500 worst case but the 4.3% ($4300) comes off the top of your federal rate (if I'm reading everything correctly).
Utilities also range from $.03-$.08 per KWH as well. Believe me, I used to be massively pro-Texas before adding up the numbers. My Texas ag-exempt taxes were equivalent of a $250k place up here. There was more than just scenery that weighed into my decision (like no fucking taks tests).
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Originally posted by Sean88gt View PostBut it's offset if you are a home owner, and the state income taxes in other states is deductible from your federal rate
I've attempted to point this out to people, but generally speaking, Texas residents are the biggest homers in the world.
If you make $100k a year (dialing it back from dfwm standards but just using simpler #'s) and own a $400k house in North Dallas (Frisco, Allen, Mckinney - or any place around the metroplex for that matter) and have roughly 3% property tax then you are paying $12k per year, every single year you own that house. Which, based on your income works out to be 12%, as long as you are a home owner.
In areas surrounding Denver, which have a higher property tax rate on the same price property you can expect to pay between $3000-4000/yr. The stay income tax is around 4.3%, so figure $8500 worst case but the 4.3% ($4300) comes off the top of your federal rate (if I'm reading everything correctly).
Utilities also range from $.03-$.08 per KWH as well. Believe me, I used to be massively pro-Texas before adding up the numbers. My Texas ag-exempt taxes were equivalent of a $250k place up here. There was more than just scenery that weighed into my decision (like no fucking taks tests).
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Originally posted by juiceweezl View PostI moved from NC a decade ago, and we factored all of this in. There's a crossover point where Texas becomes the place to be, but you have to hit a certain income threshold to realize the gain. My first year here, we were a push. Our property taxes and higher utilities, car insurance, etc. offset paying state income tax and low ($500/yr) property taxes. Within 2 years though, I was beyond that point as my income grew. Even with factoring in the higher costs of utilities, insurance, and property taxes (which are deductible), I came out ahead -- way ahead in some years. There are some states that are even better than Texas to live for tax purposes/cost of living, but not many.
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In NYC you have a city tax as well as state and federal. And then the sales taxes are high as shit.Originally posted by racrguyWhat's your beef with NPR, because their listeners are typically more informed than others?Originally posted by racrguyVoting is a constitutional right, overthrowing the government isn't.
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● Lives in a home that is in good repair, not crowded, and equipped with air conditioning, clothes washer and dryer, and cable or satellite TV service.
● Prepares meals in a kitchen with a refrigerator, coffee maker and microwave as well as oven and stove.
● Enjoys two color TVs, a DVD player, VCR and — if children are there — an Xbox, PlayStation, or other video game system.
● Had enough money in the past year to meet essential needs, including adequate food and medical care.
Where da line fuh mah food stamps?
And Sean hit it right on the head. My wife teaches and coaches - she teaches the subject, she makes sure the kids get it and moves on. She is the minority though. I cannot count the number of teachers who teach ONLY what is required to pass the test and nothing else. At the end you have a kid who knows how to pass TAKS and has no grasp of the subject matter.
...but that's all gonna change, because this year we get the new and STAR test.
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Originally posted by Sean88gt View PostBut it's offset if you are a home owner, and the state income taxes in other states is deductible from your federal rate
I've attempted to point this out to people, but generally speaking, Texas residents are the biggest homers in the world.
If you make $100k a year (dialing it back from dfwm standards but just using simpler #'s) and own a $400k house in North Dallas (Frisco, Allen, Mckinney - or any place around the metroplex for that matter) and have roughly 3% property tax then you are paying $12k per year, every single year you own that house. Which, based on your income works out to be 12%, as long as you are a home owner.
In areas surrounding Denver, which have a higher property tax rate on the same price property you can expect to pay between $3000-4000/yr. The stay income tax is around 4.3%, so figure $8500 worst case but the 4.3% ($4300) comes off the top of your federal rate (if I'm reading everything correctly).
Utilities also range from $.03-$.08 per KWH as well. Believe me, I used to be massively pro-Texas before adding up the numbers. My Texas ag-exempt taxes were equivalent of a $250k place up here. There was more than just scenery that weighed into my decision (like no fucking taks tests).
To each his own. I'm not leaving regardless.
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Originally posted by Vertnut View PostOf course I'm a homer! Collin County is a worst case example of taxes. I pay $6500 a year on a modest $300k home in Ellis County. My homeowners insurance runs $780 a year, and I pay $1800 a year to cover 4 cars.
To each his own. I'm not leaving regardless.
Prices have largely balanced as box stores have taken over the landscape. Milk, food, dvd's, etc are fairly uniform. Even in TX, the prices will vary on zip code because these stores know they can screw the white people.
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