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@travisspace7786 Жыл бұрын
My only problem with this video is if you go into like rural urban areas homes were far less than in the cities from your average home in Austin being 639,900 and LA being 998,000 from places outside the cities average house back in 2016 was about 200,000 - 300,000 in Texas where as in CA it was 600,000 - 800,000 and its not only that but the fact you could buy a better home in Texas than CA for lower prices. A dinky tiny POS for 600,000 opposes to a nice big house with some land for 300,000 This is what really attracted people to Texas and less restrictions on 2A cheaper gas. The schools are shit..........................Don't get me started
@cl20v874 ай бұрын
Former Californian, the math is right for what it is, but couple things to take into consideration. 1)You mentioned what the average person pays in transportation(gas) which isn’t quit accurate for California, since it has the highest gas tax in the nation. Californians pay closer to 6% on gas. Also that 6% is based off the gross. So off the top before they take state income taxes which Texas doesn’t have 2) Also utilities, which Texas wins HANDS DOWN. Electrical, gas and water are significantly cheaper. Multiple utility companies in Texas while in California PG&E has the monopoly 3) we also have regulations and fees that are not considered taxes ie fees on plastics (plastic bags, straws), car smogs which are heavily regulated, California Disability, CAMeD which all comes out of our paychecks ALONG with CA state income tax. And from what I’ve heard they’re trying to implement a single-payer healthcare system in California along with a hefty increase to min wage 4) I see people commenting on toll roads in Texas n Florida. Gas taxes are supposed to be used to maintain the roads but California has a reputation for having incredibly unkempt roads. I can personally attest to this
@alchemyyusuf40462 жыл бұрын
I like your content. Just watched a few videos. Suggestion: when discussing numbers, can you leave them on the screen for longer and/or display to full comparison at the end of your video, or even during the video. It'll make it easier to follow your reasoning.
@CalebHammer2 жыл бұрын
Yeah for sure, I've been trying to improve this in the most recent videos :)
@PINOYROCKTRAX10 ай бұрын
I’m surprised you didn’t mention CA Prop 13, which is a game changer for older homeowners.
@TRYtoHELPyou10 ай бұрын
Man, you left out an ENORMOUS benefit that California has, Prop 13. That sets it apart from texas by leaps and bounds. Prop 13 makes it so your property (EDIT) value assessment is no greater than 2 percent per year from the initial sale/assessment, no matter the actual increase in market value. It even has an amended prop 8 that lets the owner claim a lower value in cases where value decreases.
@lilbtyt79282 жыл бұрын
I’d also consider toll roads taxes. I HATE toll roads
@CalebHammer2 жыл бұрын
SAME. So many in ATX
@grod8052 жыл бұрын
I've never been in a toll road in California except for bridges
@JonathanTheZombie2 жыл бұрын
I hate having to pay tolls in places I don’t live, so I always take backroads instead whenever I can. They actually make sense because it forces people who use the road to pay for it, rather than raising everyone’s taxes. But usually they’re funded through debt and tolls, so taxes still go up anyways.
@1984chevroletdude2 жыл бұрын
Legal highway robbery
@lilbtyt79282 жыл бұрын
@@JonathanTheZombie yeah id rather have the tax and not have then always raise the price every year till it feels more like robbery like i hate weeks i have to commute across the golden gate or marin bridges for reasons.
@zguy951354 ай бұрын
I wish my property tax rate was .71%. I live in Contra Costa County and we pay out the nose for property tax (same house cost and tax you quoted for Austin), AND pay CA state tax AND a 9.75% sales tax.... The only saving grace is that the property tax bill will be fairly stable, thank god for Prop 13. If you're just a normal working person who manages to jam their foot in the real estate door, it's a godsend.
@SugarBear-xq3xc4 ай бұрын
Some things you didn’t include from California. The taxes hidden in gasoline which make their gas costs extremely more, The taxes on plastic water bottles, automobile registration costs are about 10x more annually and rent costs which are much more just to name a few. All those costs equal higher cost food and other items as well.
@EnjoyMoosic2 жыл бұрын
LA resident here. What most surprised me by this comparison is that average wages are noticeably lower than Austin, yet the average residence is about 50% more expensive here. How does anyone afford to live here? lol
@davidthosome6232 жыл бұрын
He didn't use the average, he used the median. There is a SIGNIFICANT difference between the two. Considering LA is home to hundreds of multimillionaire and billionaires, it would likely skew heavily towards LA having a higher average income.
@Nox_Bishop2 жыл бұрын
I'd like to see you break down international taxes compared to the United States. For example, I live in Melbourne, Australia and we'd be pretty comparable to LA without the crazy taxes involved.
@CalebHammer2 жыл бұрын
oooo that is a very interesting topic!
@SamanthaSmith-tv1jl Жыл бұрын
Yes and I live in UK close to London
@viennasugar63402 жыл бұрын
This is an interesting topic and one I've considered before because I've lived in both states. Just remember that if you get stuck with a ridiculously high property tax bill in TX, but values were inflated and have since gone down (as is the case right now), you can challenge that tax bill and have your city reassess your property.
@grod8052 жыл бұрын
Doesn't this incentivize people to want to live in a worst neighborhood so their property taxes don't increase?
@aquaticaaficionado2004 Жыл бұрын
In certain areas (El Paso, cough cough) they are trying to be slick. They literally doubled our homes assessed value so they could hit us with a higher tax bill. . . It is insane some of the things they try to do. Our house went from being valued at $120k to $260k in ONE year. . . yeah ok. . Challenging the assessments are a must. Problem is that Texas gives many exemptions and exempt folks never dispute, the county assessors then point to their homes as comparables.
@Golden632 жыл бұрын
This is such a great video. First, almost all the CA vs TX videos include political propaganda, while this is just an Apple-to-Apple comparison on taxes between two cities. In addition, most people didn’t realize that when a state doesn’t charge income tax, they will make it up in a different way, such as property tax. The tax structure in Texas obviously favors the mega rich, but not necessarily an average middle-class citizen.
@CityLadyLA Жыл бұрын
Too humid!!
@denniedollreborn87114 ай бұрын
Going from LA to Florida I was not expecting to have to pay toll roads until I got here 😵💫
@saskia3854 Жыл бұрын
x-amount you "lose" to taxes... hmm... I've heard this phrase before, why are taxes seen as something so negative? With a half decent government those taxes help with infrastructure, schools etc. Not that I'm fond of paying taxes. lol I do prefer to see both sides of the medal.
@user-dl4qu3mk8gАй бұрын
Wow $7K in taxes 😮thats my entire mortgage payment P&I plus tax and home insurance just WOW
@foudres06 Жыл бұрын
I don't think household with the median income of 65-75K own houses in the 600-900K range be it in LA or Austin. They would own houses in the 150-400K range depending a significant share of them would rent. Actually official data (www.census.gov/quickfacts/fact/table/austincitytexas,US/PST045221) shows that median house value in Austin is 381K (for 79K household income) and for Los Angeles that's 701K (for 69K household income). And then you have your explanation. It is much more doable to buy a 381K home with 79K income than a 701K home with 69K income. Before interest raise, it was fairly doable in Austin, but not at all in Los Angeles. So what drive people to come for me is the affordable housing.
@philipyatabe56202 ай бұрын
CA does NOT tax senior social security income!
@acdvfb2 жыл бұрын
I would like to see what it's like for the people in the top 25% as they seem like the people more realistically purchasing the median priced houses at this point. Probably better for those in Austin, but there are a number of caveats outside of the data that would still make LA more enticing for many people.... Would love to see the perfect work from home city, comparing rent vs buying, maybe incomes of 50K/75K/100K.
@CalebHammer2 жыл бұрын
100% I'm going to make that video :)
@taylorpitts7438 Жыл бұрын
For the consumer spending this doesn’t account for the cost of gas making the transportation costs higher in California. Also the 21.5% average income that was spent on consumer goods was higher in Austin because a higher salary was used. The salaries should be equal for a more accurate video if we’re purely focusing on taxes.
@Alex-Proud-AmericanАй бұрын
I would California has much higher incomes, yes the median is lower but anyone that’s out there with a good job knows they pay extra SO their employees can live in California
@haybuhayko11 ай бұрын
Most people who make median in Los Angeles don't own property. Most people who are HHI I know in L.A. employ strategies to reduce their tax load, especially with the new laws recently passed with regards to pass through entities.
@Threesixtyci Жыл бұрын
Yeah... my home is paid for and they keep telling me my house value is going up.... 3K is what my property tax is up to now. Last year... it was 2.8k.
@Beamarkone2 жыл бұрын
I look forward to all your videos. I love the facts keep up the great work. Give me more.
@CalebHammer2 жыл бұрын
Thank you so much 😊
@zappa-happy Жыл бұрын
Translation - If Yr Rich AF Live in TX (SO many celebs live in Austin now!) Middle & Lower-CA!
@seankiernan9369 Жыл бұрын
For the "median" everything with the only variable being CA vs TX. That's why you earn income in Texas but own property in Hawaii.
@computron5824 Жыл бұрын
Texas tax structure, and real estate seem better. $65k is the median household income in LA and the median priced home is almost a million. Since that's the median, in reality a household needs to make at least $220k in California to afford an $880k home. Only 16% of people in California can buy a median priced house, and the quality of housing is pretty bad because the city and state have blocked construction for decades. In general, the Californian tax system is structured in a way to subsidize the property owners who bought houses a long time ago. As their property values sky rocketed, their property taxes stayed locked in because of a 1978 law called Prop13. We have a lot of million dollar plus homeowners that are paying only $1-2k+ in property taxes. The only time that'll update to current market rates is when the home is sold. When property taxes are so low for "millionaires on paper" you need to offset infrastructure costs with really high income and sales tax. My sales tax in LA County is 10.25%. In general, I would always bet on the state that builds rather than the one that artificially restricts supply to drive property values up.
@natalieveiga6581 Жыл бұрын
Would really love for you to do one of these for the major city in most states. We moved to Denver from Texas, and everyone said we were screwed because of the higher taxes not just in Colorado but in the city of Denver. But my partner and I also both found jobs that pay a lot more so we actually habe slightly more expendable income, even after taxes and higher cost of living. Not sure if that's the norm or if we just got lucky??? Would love to see a breakdown haha.
@spittin2 жыл бұрын
What about gas tax, dmv fees, utilities medium mortgages prices total (total living expense) not just tax.
@CalebHammer2 жыл бұрын
Oh absolutely. Lots of stuff to add up, but this video only covered this specific topic.
@spittin2 жыл бұрын
@@CalebHammer ah I see I think adding all those up it’s still cheaper to live in Texas right. Maybe Austin is a bit more expensive than most places tho lol
@CalebHammer2 жыл бұрын
@@spittin Yeah, maybe! I think it would be fun to go in-depth on those as well!
@xhristian12 жыл бұрын
@@spittin NOPE
@Mustangkid292 жыл бұрын
Lol Cali isn’t bad! Come to CT. Paying 10k/yr on a 450k house. Roads are crap and it’s beyond hot in the summer and brick in the winter.
@damienyuen7718 Жыл бұрын
Both states have their ways of taxing you. Texas is cheaper cost of living but not nearly like it was in the past. Lots of areas in Texas now charge California prices.
@jasonreviews2 жыл бұрын
houses are way too expensive in LA. Unless you live in riverside or sacremento
@CalebHammer2 жыл бұрын
Yeah, absolutely brutal!
@ND_Productions3 ай бұрын
So if you’re just renting in Texas and not paying that ~11k + property tax then you’re chillin.. no state income tax.. and lower sales tax.
@PSOpwnage2 жыл бұрын
Can you do a ny vs Florida video
@brandonnguyen18842 жыл бұрын
NEW VIDEO LETS GOOO
@CalebHammer2 жыл бұрын
LETS GOOOO
@JudeEscobedo Жыл бұрын
Compare NY (NYC) and IL (Chicago) to Texas.
@NicksDynasty Жыл бұрын
This was great, make more!
@choreomaniac2 жыл бұрын
This seems to imply that it’s harder to be a retiree in Texas than California since you don’t have much income but still probably own a nice house. It would be interesting to see that comparison. Best thing be to make lots of income in Texas and live in small cheap house then move to California for retirement in big expensive house.
@Kasukke2 жыл бұрын
Also in California your property tax stays at your purchase price. Insane given how much RE had appreciated
@grod8052 жыл бұрын
You benefit more from buying your house in California early on so property taxes remain low on your house
@thomasjefferson50762 жыл бұрын
Great video!
@alexalpine44902 жыл бұрын
Please make that video you suggested at the end
@MiguelCruz-lw2sz2 жыл бұрын
YOURE THE GOAT
@CalebHammer2 жыл бұрын
Thank you so much!!!
@rosiethornock4794 Жыл бұрын
Where in Austin metro are property taxes 1.77%? I'm in far NE Travis County and we're at 3.1%
@ashwin56082 жыл бұрын
Not everyone needs to own a home
@jodlkopp7434 Жыл бұрын
Did you just say a person making 65000 a year can buy a home close to a million dollars?
@danielbeniaminanton8 ай бұрын
❤
@SamtheCanuck Жыл бұрын
Yeah this video goes to show you how easy it is to get the populace to think they’re getting a deal due to no income tax.
@AppleOrchardThief2 жыл бұрын
Considering a lot of the Austin taxes were from property tax, I would assume looking at the same situation, but for renters Austin could be the better move. Not sure though, obviously depends on rental rates I suppose.
@CalebHammer2 жыл бұрын
Yeah, that would be good to look into!
@darkpraxis2 жыл бұрын
Wouldn't the renter just be reimbursing whatever the landlord pays in property taxes through the rent charged?
@acdvfb2 жыл бұрын
@@darkpraxis Very good point. This is partially why we've seen huge spikes in rent in Austin.
@saraashkir57932 жыл бұрын
@@darkpraxis Sure, but not $11,000 worth of taxes, or even $6000 worth assuming that sized home can be rented to two separate renters. That’s $500 extra per month which is a huge increase. Austin rent isnt THAT high
@darkpraxis2 жыл бұрын
@@saraashkir5793 I'll admit, I don't live in TX and am not familiar with their tax laws, but a quick google search says homes have to be reassessed at least every 3 years in the state. So the recent market spike in home prices won't affect all homes for another year or two. If I were a real estate businessman in that area, I'd be thinking long and hard about how to make up the losses from current or future taxes on the increased market value. I'd either sell the property at the new market value and invest the profit in something else, or raise the rent gradually on current tenants until it covered all of the new tax liability. Either way, tenants will foot the bill in the end.
@waterisformless2 жыл бұрын
Where are the sources for these numbers? All I see in the description are plugs for your other shit
@CalebHammer2 жыл бұрын
Scroll down
@trueenough64892 жыл бұрын
The median income in Texas is also 10k more which is nice
@CalebHammer2 жыл бұрын
Austin has a pretty darn good median income.
@grod8052 жыл бұрын
Great video. I'm from California and I vote to tax the rich to help the poor.
@jz44612 жыл бұрын
Encouraging economic growth and improving financial literacy would do so much more than to take from Peter to pay Paul. Our federal government already allocates the vast majority of our budget to "payment to individuals".
@jayman80012 жыл бұрын
💯 % agree with the other guy. Taking from the rich to help the poor when they can’t help themselves with simple financial literacy is a dead end. I think. But what do I know.
@JabronyPlays10 ай бұрын
That's why your state is garbage
@Joenzinator2 жыл бұрын
It seems like if you are high income, with a reasonably priced home, then Texas is the way to go.
@CalebHammer2 жыл бұрын
Yep! Probably!
@quixomega2 жыл бұрын
Watch out, facts tend to have a liberal bias so if you try to be objective in a video you'll anger conservatives.
@grannybird73652 жыл бұрын
You’re stuck with the Texas property tax, but we have control of our California spending. Like taking possession of your new car in Nevada to save on the sales tax. Also, there are actually two Californias. Southern Cali, liberal. And the conservative inner and northern area. Which will someday break away from the southern half and become the great State of Jefferson. We’ve even got a flag, green and gold, very pretty. Texas would be much nicer if it weren’t so full of damn Texans. ( Except you, sweetie, you’re cool).
@CalebHammer2 жыл бұрын
hahaha, thank you
@lonestarstate9220 Жыл бұрын
That's what I said about California bunch of weirdos. Technically Austin is mini California.🖕
@rjmari Жыл бұрын
This has to be a troll comment.
@Spankmepink5 ай бұрын
Damn, LA's property taxes are lower than Cleveland Ohio.
@musicman76enator4 ай бұрын
You serious? I thought it was way cheaper in Cleveland?