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Thread: Income tax question
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12-16-2009 #1
One more thing about taxes, states with an income tax are around the 3-6% off you Net income, but comparatively, in TX there is no income tax, but property taxes are much higher (rentals reflect that too).
I traded a 2K yearly income tax, for about the same 2K increase in property taxes by moving from Colorado to Texas.
No surprise it was coming, but we were able to get a nicer house by comparison, same budget.
If I chose to drive more, I could move further away from the city limits and pay less taxes. Many friends sold their houses and built newer, larger homes trading the tax for more assets, but they did not need to worry about kids in school.
Just more to consider.
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