Monday, February 17, 2014

Why Would People Stay in Places Like NY and IL?

Climate probably has something to do with the migration patterns shown here ... but I don't think it's totally coincidental that Texas passed up New York a decade or so ago, and Florida will pass it this year -- and both have no personal income taxes.

On the contrary side, it's not all that simple. When I was being recruited for a job in Texas in 1988, one of the big selling points they used was the 'no income tax' bit. It wasn't a major factor in the decision to move, but it definitely sounded good. Then we got there and I found out that our property taxes in Austin, for a house of the same value, were roughly double what they had been in Phoenix.

No comments:

Post a Comment