Property Tax

Illinois has high property taxes, high income taxes and high sales tax, yet they still are running deficits and keep looking for ways to separate residents from their money.

Funny how that works isn’t it?

Not really, democrats need people dependent on the government and to believe they’re victims, that’s how they stay in power.

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That link looks at actual property tax dollars paid. You can also look a property tax rates, which is the one I hear cited most often. Here are two examples:

In both lists New Jersey and Illinois come in at one and two for highest property taxes. However, as one example of the differences, Texas comes in as with the fifth highest rate at 1.74% but does not make the list of the top ten for actual dollars. That makes sense. As is often said, Texas has higher property taxes to offset the lack of a state income tax, while it also has much more affordable homes, leading to lower actual assessments than some states with lower property tax rates but higher housing costs .

Good point.

INteresting. People say oregon has high property taxes but based on the charts, not really. There is no sales tax.

They all get you somehow.

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I have no issues with paying my fair shere but I think everyone should be contributing. I don’t mind property taxes that stay locally, if people want safe neighborhoods, good schools and the amenities they want they should be willing to pay for them. I prefer a sales tax over income taxes, the more you spend the more you’ll pay, taxing income punishes hard work and success.

Agreed, and it discourages saving.

My son found that out when he had to pay income tax on dividends even though he didn’t sell the stock. I explained he had to support deadbeats and whores who only know how to take and never give back.

That will soon be offset by all the people who like to cite people fleeing blue states. Especially from California. If you had a house going for $200k in Texas prior to the influx of blue state refugees who were used to paying over a million for that $200k house, the value and taxable amount will also go up.

Im researching places to live in retirement and IL is a tax friendly state to retirees. No tax on pensions, SS, or 401k distributions. Guess you just cant own property there.

Id never consider IL because its flat and cold. Right now leaning towards TN.

There’s plenty of room in Texas for new homes, it’s good for current residents and for those fleeing blue states, a win-win. The only losers will be blue states.

California lost more tax income than every other state as people left to other states – KION546.

Overall, California lost $29 billion in adjusted gross income from migration out of the state in 2021 after losing $18 billion in 2020, according to IRS data. New York state lost $25 billion in 2021 and $20 billion in 2020.

More data for you to ignore…

You win…the laws of supply and demand are not applicable in Texas. Dallas used to be pretty affordable with the most affordable being about 20 miles out of the city. Now it’s up around the Oklahoma border, which is close to 100 miles away. But yeah…there is plenty of room to move there. And those Californians who are used to paying a million for a 1,000 square foot house or live 100 miles away will think they have died and gone to heaven, but those who have lived in Texas for 40 yeas aren’t going to like such a long commute.

I simply said that the more people flee blue states will make home prices…and along with it - taxes. Go up. Didn’t mention numbers…didn’t say anything about any other state other than people moved from them. And the only thing I said about taxes was that people who lived in Texas prior to the influx will see their property tax bill increase because that influx increased the value of their home. But again…that is if the law of supply and demand is in play, which as you point out does not apply in Texas.

TX may have plenty of room but homes in Dallas are pricey. One friend retired there and he’s decided to go back as a contractor. Another just transferred from GA to Fort Worth and his mortgage is $5500 per month! He thinks it’s as simple as a refi once rates are 3% again, I’m not sure it’s that simple.

There are some nice areas of Tennessee that would serve you well in retirement. If we weren’t already committed to FL then I would consider TN as well…although I feel like Kemp is awfully close to getting GA to no state income tax.

We are planning to unload a couple or our rentals next year and buy a place in one of the NC mountain areas so that we can split time. The west coast of Florida is really nice, but its pretty darn hot in July and August.

Didn’t you say your property taxes went up recently? There must be a lot of people moving to Kansas for that to happen.

Texas didn’t even make the top 20.

I don’t know what Kemp has done but getting rid of income tax has been a goal in GA for a while. RetIrees aged 62+ pay no income tax, SS, or 401k tax and they get a significant property tax break in many counties.

Connecticut is number two on the list of the states with the highest property taxes. For some reason, that doesn’t surprise me!

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Kemp is doing an excellent job of keeping spending to a point where they almost do not rely on the income tax revenue to balance the budget. They get enough revenue elsewhere…

Correct on the SS and property tax breaks, but what do you mean about income or 401k tax? There is no such provision that I am aware. My parents are retired in GA and they definitely pay income tax on their unearned income.