One of my coworkers has a home on a couple of acres in Gilroy she bought over 30 years ago. She was looking at selling and downsizing. The problem was the $400k tax bill she would have to pay for taxes.
SF vs San Antonio
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4WD
$50 site donor 2024
I'm satisfied with my income, my taxes, and much cheaper to live here … certainly not as pretty …
I'm not sure about land of opportunity statements …
there are certain companies that have their own brand of people … and they know too much about you before you apply for a job …
I'm not sure about land of opportunity statements …
there are certain companies that have their own brand of people … and they know too much about you before you apply for a job …
AZjeff
$50 Site Donor 2023
Originally Posted by tenderloin
" accidental real estate windfall " Wow......
You think people buying 1200 sq ft bungalows 20 years ago in any of the major population areas knew what they'd be worth now? They were just living their life like the rest of us and ended up with a big bonus. Maybe the guy was a mechanic, can a mechanic buy that house from him today? Good for them and their good fortune but it wasn't planned.
" accidental real estate windfall " Wow......
You think people buying 1200 sq ft bungalows 20 years ago in any of the major population areas knew what they'd be worth now? They were just living their life like the rest of us and ended up with a big bonus. Maybe the guy was a mechanic, can a mechanic buy that house from him today? Good for them and their good fortune but it wasn't planned.
Originally Posted by Sunnyinhollister
One of my coworkers has a home on a couple of acres in Gilroy she bought over 30 years ago. She was looking at selling and downsizing. The problem was the $400k tax bill she would have to pay for taxes.
I would love to have a $400K tax bill. That place has to be big bucks.
But Gilroy is too hot for me.
One of my coworkers has a home on a couple of acres in Gilroy she bought over 30 years ago. She was looking at selling and downsizing. The problem was the $400k tax bill she would have to pay for taxes.
I would love to have a $400K tax bill. That place has to be big bucks.
But Gilroy is too hot for me.
Originally Posted by 4WD
I'm satisfied with my income, my taxes, and much cheaper to live here … certainly not as pretty …
I'm not sure about land of opportunity statements …
there are certain companies that have their own brand of people … and they know too much about you before you apply for a job …
House prices are beyond ridiculous.
The schools and Police department here are some of the best in the country.
I am not sure how these very important people do it.
I'm satisfied with my income, my taxes, and much cheaper to live here … certainly not as pretty …
I'm not sure about land of opportunity statements …
there are certain companies that have their own brand of people … and they know too much about you before you apply for a job …
House prices are beyond ridiculous.
The schools and Police department here are some of the best in the country.
I am not sure how these very important people do it.
Originally Posted by AZjeff
Originally Posted by tenderloin
" accidental real estate windfall " Wow......
You think people buying 1200 sq ft bungalows 20 years ago in any of the major population areas knew what they'd be worth now? They were just living their life like the rest of us and ended up with a big bonus. Maybe the guy was a mechanic, can a mechanic buy that house from him today? Good for them and their good fortune but it wasn't planned.
I mentioned that scenario for some/many of the people..but only 20 years ago...one should have seen the writing on the wall...Even in that scenario there were many cholices where people could live. Didn't take all luck to figure what would be a better place down the road time wise. Also very many planned and upsized their homes along the way, bought second homes, income properties etc. knowing what they had and what the future probably looked like. Not all "luck" by any stretch of the imagination in hundreds of thousands of success stories...Just like what has been happening in your area for sometime. Failures? Sure.. as in any endeavor but enough to make the number of people getting the windfall substantial. How many people do you know when looking at where they grew up, lived , worked etc say.."IF WE HAD ONLY...." Many of us don't have to say that... In AZ, Texas and other areas where large numbers of Californians are moving with some extra cash due to the difference of housing prices...How many of your "locals" have been smart enough to do the same thing where you live? I hope you are one of them.. Be happy
Originally Posted by tenderloin
" accidental real estate windfall " Wow......
You think people buying 1200 sq ft bungalows 20 years ago in any of the major population areas knew what they'd be worth now? They were just living their life like the rest of us and ended up with a big bonus. Maybe the guy was a mechanic, can a mechanic buy that house from him today? Good for them and their good fortune but it wasn't planned.
I mentioned that scenario for some/many of the people..but only 20 years ago...one should have seen the writing on the wall...Even in that scenario there were many cholices where people could live. Didn't take all luck to figure what would be a better place down the road time wise. Also very many planned and upsized their homes along the way, bought second homes, income properties etc. knowing what they had and what the future probably looked like. Not all "luck" by any stretch of the imagination in hundreds of thousands of success stories...Just like what has been happening in your area for sometime. Failures? Sure.. as in any endeavor but enough to make the number of people getting the windfall substantial. How many people do you know when looking at where they grew up, lived , worked etc say.."IF WE HAD ONLY...." Many of us don't have to say that... In AZ, Texas and other areas where large numbers of Californians are moving with some extra cash due to the difference of housing prices...How many of your "locals" have been smart enough to do the same thing where you live? I hope you are one of them.. Be happy
Quote
Forget price. Where would you rather live? If California was so wonderful, why are so many leaving? This tells you all you need to know.
I've been through both states and have spent a good amount of time in Texas. California is arguably one of the most scenic and beautiful states in the country. As far as everyone else goes......I don't know. States go through boom and bust cycles like anything else.
Forget price. Where would you rather live? If California was so wonderful, why are so many leaving? This tells you all you need to know.
I've been through both states and have spent a good amount of time in Texas. California is arguably one of the most scenic and beautiful states in the country. As far as everyone else goes......I don't know. States go through boom and bust cycles like anything else.
AZjeff
$50 Site Donor 2023
I love California the state. My daughter chased design jobs in the MMO gaming field up and down Cali from San Diego to LA to SF so we'd visit and see lots of the fantastic natural wonders California has. It's just so full of people everywhere we went at any time of the day any day.... don't know how you natives can take it.
Originally Posted by pbm
A wise friend once said to me …"California...land of fruits and nuts".....
My uncles (Buffalo, NY) used to tell me that all the time. Yep, we got all kinds.
Everyone comes here for a piece of the pie; fruits and nuts included.
A wise friend once said to me …"California...land of fruits and nuts".....
My uncles (Buffalo, NY) used to tell me that all the time. Yep, we got all kinds.
Everyone comes here for a piece of the pie; fruits and nuts included.
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Originally Posted by JeffKeryk
Originally Posted by JMJNet
Originally Posted by blupupher
Wow, what a shocker. The most expensive state in the continental US compared to # 6 state in the Con US, who would have guessed.
In other news, gas is also more expensive in California than Texas.
What about TAX(ES)?
CA income tax is 10%
Property tax is based on purchase price, with some caveats.
Paying taxes is good cuz it means you are making money.
Yeah that 10 percent plus Federal taxes, plus cell phone tax, plus real estate tax, plus cable taxes, plus water taxes, plus electrical taxes, plus gasoline taxes plus a restaurant tax when going out to eat, plus retail state tax on purchasing items, plus the scratching your rear end tax etc etc ...
And many of the residents of that state... Ain't paying nothing... And are free loaders.
Originally Posted by JMJNet
Originally Posted by blupupher
Wow, what a shocker. The most expensive state in the continental US compared to # 6 state in the Con US, who would have guessed.
In other news, gas is also more expensive in California than Texas.
What about TAX(ES)?
CA income tax is 10%
Property tax is based on purchase price, with some caveats.
Paying taxes is good cuz it means you are making money.
Yeah that 10 percent plus Federal taxes, plus cell phone tax, plus real estate tax, plus cable taxes, plus water taxes, plus electrical taxes, plus gasoline taxes plus a restaurant tax when going out to eat, plus retail state tax on purchasing items, plus the scratching your rear end tax etc etc ...
And many of the residents of that state... Ain't paying nothing... And are free loaders.
Originally Posted by buster
I've been through both states and have spent a good amount of time in Texas. California is arguably one of the most scenic and beautiful states in the country.....
No one is going to argue against California's climate and weather. It has without question, some the best in the nation in that regard. The problem is living within the confines of the tax structure and socialist government that runs it. This is what people who are leaving object to the most, and in fact are running away from.
For now anyway, they are afforded the added incentive of being able to leave with a pile of cash when they do. How long that will last, as they continue to hemorrhage population, is anyone's guess.
I've been through both states and have spent a good amount of time in Texas. California is arguably one of the most scenic and beautiful states in the country.....
No one is going to argue against California's climate and weather. It has without question, some the best in the nation in that regard. The problem is living within the confines of the tax structure and socialist government that runs it. This is what people who are leaving object to the most, and in fact are running away from.
For now anyway, they are afforded the added incentive of being able to leave with a pile of cash when they do. How long that will last, as they continue to hemorrhage population, is anyone's guess.
Originally Posted by bbhero
...... Yeah that 10 percent plus Federal taxes, plus cell phone tax, plus real estate tax, plus cable taxes, plus water taxes, plus electrical taxes, plus gasoline taxes plus a restaurant tax when going out to eat, plus retail state tax on purchasing items, plus the scratching your rear end tax etc etc ... And many of the residents of that state... Ain't paying nothing... And are free loaders.
And that is their biggest problem. And it's festering and getting worse with each and every passing day. Illegal invaders are pouring in.....And being welcomed with open arms.... While income earning, tax paying, productive citizens are moving out in droves. Not a good long term formula for economic success to say the least.
Sunshine, along with a beautiful climate is very attractive..... Until you see and smell tents, garbage, and fecal matter on the sidewalk when you drive to the grocery store. It tends to turn most people off, a little more than just a bit.... Especially when you just paid $800,000.00+ for a home with a $500,000.00 mortgage, and property taxes to match.
...... Yeah that 10 percent plus Federal taxes, plus cell phone tax, plus real estate tax, plus cable taxes, plus water taxes, plus electrical taxes, plus gasoline taxes plus a restaurant tax when going out to eat, plus retail state tax on purchasing items, plus the scratching your rear end tax etc etc ... And many of the residents of that state... Ain't paying nothing... And are free loaders.
And that is their biggest problem. And it's festering and getting worse with each and every passing day. Illegal invaders are pouring in.....And being welcomed with open arms.... While income earning, tax paying, productive citizens are moving out in droves. Not a good long term formula for economic success to say the least.
Sunshine, along with a beautiful climate is very attractive..... Until you see and smell tents, garbage, and fecal matter on the sidewalk when you drive to the grocery store. It tends to turn most people off, a little more than just a bit.... Especially when you just paid $800,000.00+ for a home with a $500,000.00 mortgage, and property taxes to match.
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