Re:The Kansas Experiment
by TheCoelacanth on Thursday August 06, 2015 @07:45PM
(#10020201)
Income taxes aren't the only form of taxes. Property taxes are staggeringly high in Texas compared to California (though I would argue that California could stand to have higher property taxes since it would help to put a lid on the ridiculously high prices to buy property there).
Property tax rates of 2-3% are common in Texas, while in California, the maximum tax rate is 1% plus a small amount to pay back voter approved bonds (SF currently has a total tax rate of 1.14%). Additionally, in Texas, the taxes are assessed against the full market value, while in California, the assessed value can't rise by more than 2% per year, resulting in many people paying tax on far less than the market value of their property.
Property tax rates of 2-3% are common in Texas, while in California, the maximum tax rate is 1% plus a small amount to pay back voter approved bonds (SF currently has a total tax rate of 1.14%). Additionally, in Texas, the taxes are assessed against the full market value, while in California, the assessed value can't rise by more than 2% per year, resulting in many people paying tax on far less than the market value of their property.