Yeah better to rent until you can pay for the house in cash...

 

Property tax rate for a house in the city of Dallas:
City: 0.74%
School: 1.69%
County: 0.22%
College: 0.08%
Hospital: 0.25%
Total - 2.98%.

So for a $200k house, you'd pay $5,960 each year. Get a homestead exemption and it'll go down to $4,964 each year.

Obviously the school bit is the big one. (Sucks for me personally since I have no kids.) That's why you might have hear about the whole Texas school finance reform thing a few months ago. I dunno if anything ever came of that though.

There is no state income tax. Sales tax is 8.25%. (Or 6.25% for vehicles.)

I cannot find any information on tax rates for LA county.

(Oh, and one of the other proposed changes is to allow exempting mortgage interest from income taxes even if you take the standard deductiong. I'd LOVE that.)

 

If that's right, and there's not state income tax, who pays governor MOFO's salary? All state govm't paid for with sales tax?

 

Yeah, I think most state stuff is through the sales tax. And lottery perhaps?

 

gas and liquor taxes, too.

but no state tax! FL is the same way.

 

Half of Texas' revenue is from taxation; with 3/4 of all taxes being sales tax (over half), gas tax, and vehicle taxation. Total tax revenue was $25 billion in FY 2000 (the last year I could readily find).

http://www.window.state.tx.us/taxbud...w/txtax03.html

 

I believe FL had a surplus this year.

All the people "moving up" in houses are finding their tax bill went up by 4x...nasty surprise. FL property tax can only move up a few % a year, but if you move into a NEW house, you pay the tax on the value.

 

Well that may be true, but we currently have a Democratic govenor, and all the bible bashers are too stupid to vote and have any effect on me...



If you love the outdoors, Oklahoma is great since it is so unpopulated. You can go climbing/hiking/boating to your heart's desire.

But yea, the state sucks.

 

I live in VA. The DC/MD/VA tri state is still growing strong in the real estate market. No beach down here but there's so many job opportunities with the government right around the corner. The financial market should always be strong. Just wish we have better chinese food here. There's tons of good pho or korean resturants. The fortune cookie thing was funny as hell. I agree

 

In California property tax rate is 1%, additional tax is levied by county and/or city and special districts such as schools, water and power .... Property value can not increase more than 2% per year, only when the house is sold, then the sale price will be used as new tax base.

Property tax for a house in the city of Irvine, without Mello Roos (my house)

Basic: 1.00%
Metro Water District: 0.0052%
Irvine Water District: 0.00001%

Total: 1.00521%.

Some parts of city of Irvine have Mello Roos and it can be as high as 2%.

We have State Income Tax and the highest rate is 9% for upper income earners. Sale tax is 7.75% in Orange County for everything except foods and house.