The Trade-off: Affordable Living in Texas Comes with Higher Property Taxes

The Trade-off: Affordable Living in Texas Comes with Higher Property Taxes

Business

Many Californians are moving to Texas for a more affordable lifestyle, but they may encounter higher property taxes. While housing and gas prices are lower in Texas, the average property tax percentage rate is 1.74%, compared to California’s 0.75%. However, the lack of a state income tax and lower sales tax rates in Texas provide some balance. The decision to move depends on individual preferences and financial circumstances. Furthermore, a recent constitutional amendment was passed in Texas to offer property tax relief and address rising housing prices and property taxes.

Middle-Class Movers are Choosing Las Vegas, Phoenix, and San Antonio as Top Destinations

Middle-Class Movers are Choosing Las Vegas, Phoenix, and San Antonio as Top Destinations

Business

Middle-class Americans seeking an affordable lifestyle are opting to move to Las Vegas, Phoenix, and San Antonio, according to a new H&R Block report. Las Vegas stands out due to its abundance of homes for sale, driving down prices, and its lack of personal income tax. Phoenix appeals to California residents looking to escape the high cost of living, although increasing demand has led to rising home prices. San Antonio maintains its affordability and attracts buyers from other popular Texas cities. Realtors believe that Las Vegas is the next big destination and investors shouldn’t miss out on its potential.