What? Yes TX has higher property taxes as % property value than CA but, again, if you’re buying a 300k place in Austin your annual property taxes are going to be <<< than the CA property taxes you pay on a typical 1.5m place + income tax in CA.
And because TX does not have income tax it also means for a 300k place your state and local taxes won’t hit the $10k limit for fed deductions which you will easily hit if you earn and have property in CA.
a 300k place in austin is not comparable to a 1.5m place in sf bay.
the 10k limit is irrelevant because most people will be in the 200k-500k AMT range where prop tax is not deductible anyway.
please compare apples to apples.
why picking on austin? it was just an example. wyoming has no income tax. you think living in jackson, WY is cheaper than cupertino? and that the reason is taxes???
And because TX does not have income tax it also means for a 300k place your state and local taxes won’t hit the $10k limit for fed deductions which you will easily hit if you earn and have property in CA.