Mon Jul 21, 2008 3:19 pm
b29flteng wrote:More warbird stuff in Texas, no state income tax, not many tree hugger/save the earth types.
That quote says it all!!
I visit Colorado (Denver area) almost every year. But nothing beats coming back home to Texas! Great food and friendly people!
I say Texas!
Davey Crocket quote: " You can all go to he\\; Im going to TEXAS!"
tax
Mon Jul 21, 2008 5:22 pm
As for state income tax, it is only 4.65% in Colorado. I think friends in Texas told me their property taxes on their home were about 6 times higher than mine in Colo. If you buy a home in Denver the saving on that tax probably offsets the small income tax and then some.
I agree Texas used to be full of friendly people when I grew up there. There are still some, but a lot have moved in from some other place, NY, Miami or some other culture and it's not the same.
I agree Texas used to be full of friendly people when I grew up there. There are still some, but a lot have moved in from some other place, NY, Miami or some other culture and it's not the same.
Mon Jul 21, 2008 5:58 pm
The tax bite depends on where you buy really. Where we are at, our property taxes are about 950$ a year. The Colorado income tax on our gross would be over 4 times our current taxes. Going into Fort Worth, Arlington, Dallas, Coppell, Flower Mound or Keller would be higher, but then you get a lot more services and hassles for your dollars. Taxes for a place similar to what we have would run between 3 and 4K a year most likely.
Mon Jul 21, 2008 6:02 pm
Bill, as long as you don't buy in Tarrant or Dallas counties, the property tax rates are much more favorable than anything you'd find in Colorado. You also have to account for the fact that a house in Rockwall or Hunt Counties that goes for just under $200K would be in excess of $600K in Douglas or Arapahoe counties for the same square footage. In addition, your house in Texas will be 90% brick while you might have 25% engineered rock (i.e. concrete poured to look like rock) and little or no brick.
Also, Texas has recently implimented property tax limits that have forced down some of the taxes that were being assesed in areas because of out-of-control property taxation by local and county governments.
Also, Texas has recently implimented property tax limits that have forced down some of the taxes that were being assesed in areas because of out-of-control property taxation by local and county governments.
tax
Mon Jul 21, 2008 6:15 pm
I am told by my friends in the real estate business that home taxes are many times higher there than in Aspen. Now you must compare dollar for dollar. There aren't any $600k houses where I live, even the trailers are over $200k. But if you compare taxes/per appraised value I am told Texas, at least Austin, or Houston, is much higher.
if you have $50 k of taxable income the Co. income tax is only $465. Of course there are many deductibles like mortgage interest, and some federal taxes paid.
And CAP in Colo taxes are due on taxable income, after the deductions, not on gross income.
if you have $50 k of taxable income the Co. income tax is only $465. Of course there are many deductibles like mortgage interest, and some federal taxes paid.
And CAP in Colo taxes are due on taxable income, after the deductions, not on gross income.
Re: tax
Mon Jul 21, 2008 6:26 pm
Bill Greenwood wrote:As for state income tax, it is only 4.65% in Colorado. I think friends in Texas told me their property taxes on their home were about 6 times higher than mine in Colo. If you buy a home in Denver the saving on that tax probably offsets the small income tax and then some.
I agree Texas used to be full of friendly people when I grew up there. There are still some, but a lot have moved in from some other place, NY, Miami or some other culture and it's not the same.
You can say that stuff again. We try to be friendly, etc... but there are a lot of rude people that have moved here - especially to the big cities! Small towns still tend to be decent, however. I can say that San Antonio doesn't feel like the city I moved to with my family 23 years ago. The city leadership (imported from AZ) are trying hard to make us a "world class city" whatever that means! I for one wish they were trying harder to stay a Texas class city. Things have changed, like people used to pull over for funeral processions, be fairly decent on the roads, and now, you kind of figure you can tell who the old style Texans are by which ones still do.
I know more folks in my circles who are have migrated here than are native.
OH, and property tax stinks - especially if you have a ranch. I'd almost rather pay the income tax. It really hurts for folks who have big bits of land that don't get enough rain. And a large part of that tax is going to fund the public mind drains, er. schools which I don't think is really fair seeing as my family chose to have us privately educated. It's socialism, really.
Rant over. I still love my state - just wish some folks here would gain some uncommon sense.
Ryan