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by DivisionSol 1898 days ago
I am moving to Austin very shortly from the Bay Area.

Rent is 1/2 as cheap for 2x the sq ft, and property values still currently with in the stratosphere (unlike the Bay Area). No income tax.

Hopefully Austin acts quick and starts building new/upgrading existing buildings to accommodate the growth that's happening.

2 comments

Well one thing that helped a bit is that the governor did not allow the city to stop construction at any point, even when lots of other stuff was locked down last April. But, even with non-stop building, it's falling behind.
A move to Texas isn't in my future but I have thought about moving to Washington to avoid state income tax. With a 300-400K+ developer income I could basically take the state income tax I am losing and put it towards rent or a mortgage.

Plus for someone like myself who is pretty thrifty and doesn't buy much "stuff" I don't get badly penalized by the slightly higher sales tax.

We'll have an income tax within a few years. The capital gains tax will be have a friendly challenge lawsuit in a very friendly state supreme court, and that'll be all she wrote.

As a WA resident, I would not bet on the state long term. Housing is expensive, tons of crime, tons of homelessness, and our politicians are almost as dumb as those in CA/OR.

As a few others have mentioned, Miami is an interesting bet if the whole "everybody goes remote" doesn't happen.

WA already has income tax, in the form of the mandatory family leave act and sick leave insurance premiums taken as a percentage of W2 pay. They also just added another 0.58% income tax in the same form, but for long term care insurance.

The long term care insurance benefit amount is pathetic too, so for any WA residents reading, you should buy LTCI ASAP by Jul 20 something so you can opt out of having that premium deducted from your pay.

I would budget paying WA at least 1% of W2 income in tax, and it’s not deductible from federal taxes in any scenario since it’s not classified as a tax.

One of my coworkers moved to Vancouver, WA a few years ago. No income tax, and Portland is just a few minutes away, where there’s no sales tax.