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A comment on Evidence for the “great resignation” is thin on the ground. Parent comment

Re:Evidence for the “great resignation” is thin on the ground by adolph on Monday December 06, 2021 @05:47PM (#29466733)
Some say TX prices are depressed due to high property taxes since it represents a significant component of household TCO. Comparing Seattle to Austin, the property value is 43% greater but the ongoing tax burden is 8:11, 27% less.

Seattle: 0.930% of Assessed Home Value

SF: 0.640% of Assessed Home Value

Dallas: 1.930% of Assessed Home Value

Austin: 1.820% of Assessed Home Value

Houston: 2.030% of Assessed Home Value

Source: https://smartasset.com/taxes/property-taxes

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Re:Evidence for the “great resignation” is thin on the ground by tedd4u on Tuesday December 07, 2021 @09:42PM (#29480713)
That SF number isn't accurate. The 2021-2022 rate is 85% higher (1.18248499%). [1]

Another important thing about property taxes is to know when an updated assessed value is triggered and if there are any limits on how it changes. For example in SF, the assessed value is basically set to the sale price, immediately. But then the assessed value doesn't change until there's another property sale (or permitted improvements are made).

In some states assessed values are updated every year regardless of sales or improvements. [2]

[1] https://sftreasurer.org/property/secured-property-taxes

[2] https://taxfoundation.org/state-provisions-property-reassess...

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Re:Evidence for the “great resignation” is thin on the ground by adolph on Thursday December 09, 2021 @09:24PM (#29505745)
Yeah, my locality changes the rate annually to make their revenue numbers and reassess regularly although not aggressively and never downward.
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Re:Evidence for the “great resignation” is thin on the ground by tfandango on Tuesday December 07, 2021 @10:42AM (#29473638)
Not sure if this is included in the assessment, but TX does not have a state tax.
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Re:Evidence for the “great resignation” is thin on the ground by devilbunny on Tuesday December 07, 2021 @01:45PM (#29476524)
Yes, the complete absence of state income taxes makes an enormous difference. Texas property taxes sound crazy until you take that into account.

Putting taxes on sales and property means that even those paid under the table can't escape taxation.

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Re:Evidence for the “great resignation” is thin on the ground by adolph on Tuesday December 07, 2021 @02:52PM (#29477368)
In the absence of an income tax and presence of similar overall government spending then increased rates of other revenue sources are a first order effect.

How this shapes the valuation of other things, like houses, is an interesting second order effect. Property tax rates shape how affordable housing is during the mortgage period and after.

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Re:Evidence for the “great resignation” is thin on the ground by ian-g on Wednesday December 08, 2021 @04:31PM (#29490786)
Specifically Austin vs Seattle, that's a non-factor. No state income tax in WA either
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