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State Income Taxes Going Up on the Top 2%

  1. profile image60
    JonesyoftheWoodsposted 4 years ago

    As states like California and New York raise state income taxes rates on their richest citizens, prompting them to consider moving their families and businesses elsewhere, here's an invitation.

    We in Tennessee and Texas don't have a state income tax and we'd like to invite you and your businesses and jobs to our states. Just think what could be done with all the money you and your employees would save.

    Come on down where sanity still rules the day.

    1. Repairguy47 profile image60
      Repairguy47posted 4 years ago in reply to this

      You can speak all day for Tennessee,  but Texas doesn't want the carpet baggers!

      1. profile image60
        JonesyoftheWoodsposted 4 years ago in reply to this

        Keep an open mind, Repairguy. We got a couple of thousand jobs when Nissan moved its North American HQ here from CA. Can't complain about a thing like that. The people that came along with the move are good people, too. Not all of them are Hollywood nutcases.

        We also have one of their manufacturing plants just southeast of Nashville. It brought a lot of jobs as well.

  2. profile image60
    JonesyoftheWoodsposted 4 years ago

    Just in case some of you want the story to go along with the invitation.

    http://blogs.sacbee.com/capitolalertlat … -rate.html

    And to make sure the HubPages police are satisfied, I'm in no way associated with The Sacramento Bee.

  3. ocbill profile image75
    ocbillposted 4 years ago

    Sure, come on over to Texas. We have no state income tax. We just double-up and sometimes triple the property taxes, have local school district taxes, higher utility bills, and higher insurance costs to offset that. It sounds good without looking at the small print.  With that said, Texas is still a nice place as I was impressed on my trips there. I am just pointing out the costs savings are not all that dramatic.

    1. Repairguy47 profile image60
      Repairguy47posted 4 years ago in reply to this

      Funny, I don't seem to have those problems.

    2. profile image60
      JonesyoftheWoodsposted 4 years ago in reply to this

      Hmmm, my property tax is about $1,200 annually on a 3 BR, 2 BA home and my electric bill was $120 for November.

      We don't have a "local school district tax" but we don't have the best school in Nashville either. Bordering counties are a lot better because we don't deal with the inner city crap.

      Insurance could be better but it's not bad.

      Maybe Tennessee would be the better choice. big_smile

      1. Repairguy47 profile image60
        Repairguy47posted 4 years ago in reply to this

        I agree 100%, Tennessee would be a much better choice.

  4. ocbill profile image75
    ocbillposted 4 years ago

    Dallas, Austin, and Houston don't have these taxes. C'mon guys. Maybe utilities but from what I read on city-data people have really high cooling costs in the summer.

    1. American View profile image61
      American Viewposted 4 years ago in reply to this

      I am not sure where you all et your data, but take it form me, I lived in NY, I currently live in Texas. Texans pay less on everything across the board when it come to taxes and utilities.I had a 4500 square foot home, in an affluent neighborhood in Plano.  My home taxes were 3500 per year includes school, fire, police, infrastructure, parks and rec, and so much more. My electric bill during 30 days of 103 degree weather would be around 200 a month. We had water and sewer bills. I had in ground sprinklers that ran twice a day and never had bills over 50 per month.

      There is no state tax, sales tax is lower than most states, Business relocate here all the time. Texas is a major draw for companies, has been for the last 2 decades. You paycheck goes much further here in Texas than anywhere else.

      In NY just in your paycheck alone you lose Federal, state, and city tax. As much as I love NY, I will never go back and work or live there again

    2. profile image60
      JonesyoftheWoodsposted 4 years ago in reply to this

      My electric bill averages about $180 - $200 June through September, our hottest months in a 1300 sq ft house. That's about average where I live.

      I'm telling you, they need to come on down to Tennessee.

  5. ocbill profile image75
    ocbillposted 4 years ago

    AmericanView,

    I think coming from a state like CA to Texas, they are shocked about the property taxes the most.

    My data comes from being a homebuyer, insurance agents, and local realtors. I cannot speak for Tennessee.  It is still a savings by moving to Texas but people should not get all giddy over the principal and interest payments alone.

    $300k home in CA has taxes of $281/month (1.125) while in Plano/Richardson (Dallas Metro)  it will be $655 at 2.62 rate and your home and car insurance goes up as well by 50% each.
    Houston has higher taxes.

    Coming from NY or the Northeast to TX becomes a very sweet deal when it comes to taxes. good to see east coasters moving to Texas. I thought they mostly moved to Florida (where insurance is even higher)

    1. American View profile image61
      American Viewposted 4 years ago in reply to this

      O

      Again, I am not sure where you are pulling your data from. I moved to Texas on a job offer and became Vice President of a builder/developer. In 1981 I owned a Dodge Challenger and paid $2,600 a year for car insurance. Before me recent health issue I was thinking of buying a new one. The quote I got from Gieco was $1,100 for 6 months. For laughs I did the zip code when I had the previous Challenger. The rate quoted was $2,200 for 6 months, Huge difference.

      As for homeowners going up in DFW, that is true, but the rates are still better than in most places. It had to go up due to the large number of claims for the last three years from hail storms, tornadoes and fires.

    2. Repairguy47 profile image60
      Repairguy47posted 4 years ago in reply to this

      You moved to Texas from California? I see why you pay more now, we love Californians.

    3. Aficionada profile image93
      Aficionadaposted 4 years ago in reply to this

      What part of California are they coming from? It can be so misleading to compare property "values" from California with those in other states, since property costs so much in some areas of CA. I know someone from the LA area whose home is valued at over a million dollars, and yet in other parts of the country (not sure about NY though) it would be less than half that, and maybe only a third.

      A better comparison - even though still inadequate - might be square footage. Or possibly the tier of home values (e.g., middle 10% value in CA compared with middle 10% in TX); or some other more equitable comparison - but not raw monetary value.

  6. ocbill profile image75
    ocbillposted 4 years ago

    Re: "the large number of claims for the last three years from hail storms, tornadoes and fires."

    Wow, I was not aware of these facts.  The agent said car insurance will rise and hail will increase homeowners insurance (age of roof especially in Dallas).  The difference in rate being higher is not credit score related. The zip code is all Progressive wanted (and these are good zips 75280,81 and Plano area) .  I hear the same from people who moved there.
    Currently paying 660/yr full cvg on a 2007 Camry, in North Dallas it is $950, & Sarasota, FL it would double. A few hundred bucks a year is nothing but then you add in 3-400 more per/mo on prop taxes, 250 more/mo on homeowners  for a 1500 sq ft home in N. Dallas.
    I heard insurance got deregulated so rates skyrocketed over there.
    Is it possible I got the wrong agent?

    OK, so when is hail season?

    tornaders? I asked a local at the hotel and he said he hasn't noticed one in 20 years

    fires?really, is it in the summer mainly from all those consecutive 100 degree heat days?

    I really liked DFW but don't like dealing with mother nature constantly being that I am from California and all.

 
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