On balance, FL is still a very low tax state. Their property taxes are around 1% or a little more. That's the same as most of the country and a lot less than the Northeast. Sales taxes are lower than most of the country. The only problem is property insurance. Obviously, Florida is a state where it's better to be well off than poor, lower middle class.
L.A. 140k per student! Seen it a million times before. Facilities like the TaJ Mahal, but it's "acting white" to want to get good grades. A gang ethic seems to permeate everywhere. Meanwhile a motivated kid in China is walking a mile to a school at a shabby facility and is on his way to a doctorate in Electrical Engineering. But you gotta continue to pay up for overbuilt schools or you'll be called a racist.
PROPERTY TAXES FL are 1.5% .. TEXAS 2.5 to 3.5% STATE INCOME ZERO.. both SALES TAX 7%. TEXAS 8.25% One article .i read some years back.. in TEXAS we have another BIG problem.. in each county. instead of having one school district. .there will be 20. each piece of shit small city( popln 50K) wants it own. ISD.. and most important Football stadium and each seperate ISD . has its supdt. and all the useless auxiliary staff.. damn.. talk about economy of scale . it the reverse. http://www.businessinsider.com/chec...school-football-stadium-in-allen-texas-2010-4 football is religion. and the amt of time and money spent is criminal. at the tax payers expense..
Northern NJ and NY in the NYC area and Long Island are very high cost of living areas. Home prices and property taxes are very high, at least if you want to live in a nice suburban neighborhood.
The property tax rate in TX is criminal. I can see their love of football, but there's no excuse for that rate. That rate must be at the same level as NY/NJ. For most people, at that rate, you might as well have an income tax. But there's some problem. Washington State has low property taxes and no state income tax, ditto TN. Maybe it's the schools as you mentioned, but something is very wrong in TX.
I think what is obvious in this thread is that the reliance on property taxes which assumes that real estate values only go up, is not working. It is also clear that rising property taxes destroys real estate asset value. All the declining cities in America are characterized by declining city real estate values, declining private home ownership, abandonment and vacant properties. NYC is one of the exceptions. It is interesting to note that the property tax for residential ownership in NYC is dramatically lower than it is in the suburbs. A $1M coop or condo in NYC will have property tax of about $6,000 to $7,000 while a $1M is the suburbs will have property tax of $20,000. Of course NYC has a city income tax that it relies on for revenue. This has produced a lively and growing residential real estate market in NYC that did not decine during these years of financial crises. Contrast this with a recent article about Providence Rhode Island which faces a municipal funding crises. It has asked Browne University to pay city property taxes on voluntary basis since they are otherwise exempt. The article reveals that in Providence private ownership of real property has given way to non profit institutional and government ownership of real property....so, they are runnning out of owners to tax. You would think that they might notice that the rate of the tax drove the private owners away and left the only buyers and users as those who did not have to pay the tax and could then take advantage of the low real estate prices! You can look across the country and see how this has played out. The high property tax cities are in spiral decline with collapsing revenues as the only substantial owners of buildings, and employers, are Hospitals, Courts, Governement Services, Universities, Churches, Schools, Univesities and Cultural and other Non Profits....The tax rates create the city scape. Contrast Newark, Worcester, Harford, Povidence, Detroit, Buffalo with Greenwich Village; and look at the property tax structure that has played out over time. The Suburbs are not immune to this and they continue with raising property taxes at their perril. Baby Boomers will not stay and thier children will not come.
http://news.yahoo.com/mortgage-rate...low-3-pct-142527335--abc-news-topstories.html Soon the govt will pay you points to take out a mortgage to hook you for the property taxes. Entire subdivisions sit empty and the actuaries already sold the tax income stream. Soon they will privatize property tax assessment and collections like the parking meters in chicago. Pay a modest amount to bail out the local govt's immediate cash crunch and win a 99 year contract to assess, tax and collect property taxes. This would be a great VC play.
I don't think you understand. The property values in TX are 1/3 of that in IL and 1/5th of NY!!! I live in the Chicago area and a home in a upper middle class hood in Chicago is let's say in the 600k range. In A nice area in Houston or Dallas that exact same home is 200k!!!! So dollar for dollar, your property taxes are half of what they are in IL and 1/4th of what they are on the upper East Coast. If TX had 1% property taxes they would be broke because there are millions of homes under 150k and many under 100k and these are NEW homes, not 50 year old fixer uppers.