You love it or you hate it, but I contemplate moving to central Texas and the biggest downside for me are the property taxes.
Property taxes are dynamic and change over time. What a fcking scam real estate is. For its utility, use it. As an investment, absolutely RETARDED and a hard no IMO. Almost certain this is going to be a slow dying investment ideology as more humans start thinking a lil more.
AZ has a similar property tax structure.
AZ Has some of the cheapest property taxes, don't they?
I would rather have a state income tax because at least I can somewhat control my income. Your income can stop and the taxes don't happen. You can pay off your property and depending on the value of that property, you could be paying in upwards. A million dollar property, Which doesn't seem to be all that much in some places here in the States. Let alone if you can build it yourself and buy the land ( You wouldn't have that much into it), In Texas, You would have to figure out whether you were working or not how you were going to give the government $20,000 ish a year.
Agreed. Property tax is in essence anti property.
What are the best states that respect property ownership?
💯 ag-exempt is the only real option in states with high property taxes. Usually that means a minimum amount of land, but hey - that’s a bonus.
The lawsuits against local municipalities for ridiculous property/millege rates is going to be brutal. Some overtly illegal stuff has been going on since the Covid housing bubble peaked.
From what I see there is no ag exempt in Texas. Let's say you have 10 acres and you get an ag exemption. It would be for in upwards of nine acres and then one acre would be for your homestead or something to that extent.
The problem with that is one acre with a nice house on it. And some landscaping could easily be a million plus.
I won’t pretend to know all of the rules or variables involved. I do know that I’ve seen multi-million estates with less than $10k/yr in property taxes. It’s egregious, to be sure, but it’s a far, far lower percentage (<0.5% in most cases I’ve seen).
Much of this is not so much the state as it is the local counties and, in some cases, cities. This is where commissioners (who are incompetent to begin with and know nothing of the laws) are pushing for these ridiculous rates - which are cumulative and way, way outside of the legal formulas for computing taxable percentages.
It’s like this pretty much all over the US for anywhere worth living. To escape it, you need to venture outside of the US. But, then you’re just trading one set of problems for another.
I’ve done both. I have a bad taste in my mouth with both. The constant is government.
Keep the faith, brother. Answers will reveal themselves.
I keep secretly pondering the idea of finding a few like-minded - and importantly, of similar values - bitcoiners and buying as much property as we can and building a settlement of our own. It would have to be outside the US. The logistics and risks involved are so great that it’s tiring just thinking it through.
I love the idea.
Unfortunately, governments fuck everything up everywhere.
And people wonder why they stay poor.
Texas is pretty insane— some areas are 3%, that basically means you pay for your house again in 33 years— and if the value doubles in that time? There goes your retirement. Scam, total scam.
Yeah, I really like dripping springs. It's outside Austin and it's around 2% and on all the MLS listings they like to praise low property taxes!
What a clown world.
Allodial title is our only current way out of this bs. Haven't gone through that process for our current property but will if we get a bigger acreage
I'll have to look into that.
FUCK PROPERTY TAXES
