They may not have a state income tax but I wonder what the property taxes might be? Are they a lot higher in those states than in those who also have income tax? Just wondering..
I have checked into Texas. Property taxes are VERY high, so they are making up for lack of income tax. So I guess it depends upon your circumstances. Perhaps if you have a high income, it is cheaper to live there due to no state income tax. But if you are retired, or have a modest income, some states with lower property taxes are less expensive to live in.
Living in AZ here — property taxes are low relative to most states I have checked into.
Property tax rates for schools are fairly high, but housing is significantly cheaper than it is in high cost states like California and New York. Maximum sales taxes are lower than California, New York or Illinois.
There is a comparison here, but it is not a straight up comparison. http://articles.moneycentral.msn.com/Taxes/Advice/PropertyTaxesWhereDoesYourStateRank.aspx
If property tax is your biggest concern, look at Louisiana.
No way! NY has an income tax and still has way out high property tax. Here in Nassau County we pay more than $10,000 per year. And it’s not for a big home with acres of property either. 1/3 acre and 4 bedrooms. Of course you do make more in NY. Then they can call us “RICH” and tax us in addition to the high property, sales and income taxes. Just great here. We’ll be leaving real soon.
Property taxes in TX are fairly high, but the cost of property in TX is very low in most places. Tax rate is not Tax Dollars. You spend dollars not percents.
My property tax on a 3-bdroom brick home that is just under 3,000 sq. feet is under $2,000 per year. What is yours in CA?
My annual income is $400,000. A 5-10% state income tax would amount to $20,000-$40,000. I own a 3200 square foot house that is appraised at $320,000,down from $350,000 before the Barney Frank / Chris Dodd recession. I live in a county that is considered in the middle as far as property taxes, which are primarily for the local school district. My property tax bill is $6000. Oh yeah, I am quite enamored with running off to Yankeeland or Kalifornia where the same house would cost about three times as much. I also purchased 200 acres of timberland at a cost of $1500 per acre. It is approximately two hours from Dallas / Fort Worth and three hours from Houston and Austin. It is used for recreation and hunting, along with the fact that the timber will more than pay for the original purchase price in seven years. Show me anywhere in a Blue State where you can find land that close to a metropolitan area for that price? I am staying in Texas or for that matter, most any southern state where the cost of living is about the same.