I played this game too and no matter how you slice it Texas is still much cheaper and more affordable than California. There’s a reason people are leaving NY and CA for Texas and Florida and it’s not just cheaper cost of living too.

 

As I said before, TX is undoubtedly the cheaper place to live, I just get amused when people attribute that to taxes, as Texans pay plenty of taxes. (Of course, comparing income tax vs property/sales/local taxes, is very apples to oranges & varies a lot by individual based on factors like number of dependents, local credits, spending habits, property value, & more.)

No one would deny the overall cost of living is much lower in TX & there are any number of reasons a person would choose to live in either place. I was only speaking very specifically to the idea that state taxes were where the tipping point occurred- it’s much more about real estate & other cost of living expenses.

 

Overall, state taxes in Texas are about 65% of what they are in CALIFORNIA:

https://www.cpapracticeadvisor.com/2...burden/103495/

But that's on the average. Because the CA income tax is so "progressive" it's even higher than that for couples making over $168,000 annually.

https://states.aarp.org/california/state-tax-guide

And having the California Franchise Tax people after you is very much like being locked in a room with two or three rabid Dobermans...

https://www.forbes.com/sites/robertw...ise-tax-board/


And their projected budget deficit for the out-years just means it's going to get worse:

https://calbudgetcenter.org/resource...17.3%20billion.

 

What??? Whenever I busted your ba$$s about living in NJ you said it was great

 

I have spent half my adult life in Texas and half my adult life in California. I would say taxes in Texas are about 80% of California.

There is so much wrong with rippinclapbomb’s post that it’s not worth quoting, but here are some more accurate assumptions.

The top marginal for married couples making up to 698k is 9.3%. However, your first 108k of joint income is only taxed at ~3%. So if you’re a married couple making 300k, that’s ~7% effective tax rate.

Honestly my tax burden was almost even in CA vs TX until we had the huge tax increase under Trump (TCJA loss of SALT deduction). At a 32% federal tax rate, I could write off 1/3 of my CA income tax burden. The GOP totally flip flopped and decided double taxation was appropriate. I cannot wait for that POS TCJA expire in 2025 and we start over fresh with new tax legislation.

Texas property taxes are awful. A 1 million dollar home in CA at ~1% property tax vs. a 500k home in Texas at ~2% property tax is the same amount of total tax dollars. However I would much rather have the home worth a million dollars because I’m getting double the home price appreciation at the same amount of property tax burden.

 

...and you'd be in Dallas...

people should stop trying to convince others their place is "better"

i have been telling people to stay away from Cali for decades - since I moved there - because traffic, crowding, etc has just worsened

i am relieved people are starting or leave, if you don't like it, please go ... for me the beach, the weather and mountains ain't going anywhere and no amount of $ can buy that in tx so i am staying

like statistics one can pick either side of the tax argument and convince oneself one is "winning"..as for me, i will enjoy the beach and weather and everyone else should do what makes them happy...just don't try to convince me dallas > cali and we will be fine

 

Someone above literally just posted a legitimate source stating 65% and for the average married legacy pilot it’s even worse to live in CA and you go “I would say taxes are about 80%” LMAO unreal assessment buddy, what a genius we have here ladies and gentlemen.

The most bizarre take I’ve read in a very long time. You’re obviously a boomer with built wealth. Think about a kid fresh out of college starting a career. You have to be able to afford that $1 million home first to receive “double the appreciation”. Most won’t be able to afford anything close to that in Cali until their late 30’s early 40’s. Years and years burning money on rent with ZERO appreciation. Big time L. Heck that might be an even bigger L than being hired at FedEx in the last few years.

 

oh it is 😂, but the taxes and voting history make it terrible. (I’ll never leave), lol

 

Back to the original thread topic, be sure to consider the opportunity to have some moving expenses paid after being on property compared to moving beforehand. I’m not up to speed on the specifics but others can chime in.

 

You realize boomers are all retired right??