Texans Are Moving Out To This Surprising State
- Californians and Texans
- Lower Property Taxes
We usually hear about all of the Californians moving to Texas. This story is about the influx of Texans to other states.
Also interesting is that both of those states have legalized marijuana.
Texans Could Be Moving To Colorado For Lower Property Taxes
Big cities in Texas are just getting bigger, and some of the residents list that as a reason for leaving. They give many other reasons, including paying less in taxes.
Though Texas doesn't have a state income tax, our sales tax is the maximum of 8.25%, while Colorado's sales tax is 2.9%.
Colorado state income tax is 4.4% flat. Their property taxes are some of the lowest in the nation, with an average of 0.48%. In Texas it's 1.60%. Even with the state income tax, you might end up paying less in taxes in Colorado.
Texas Population Is Growing In Very Specific Areas
This weekend in Austin I saw lots of plates from states other than California. I noticed many from Louisiana and New York.
Nearly 1 million people moved to Texas from another state or abroad since 2022 according to the geographic mobility data from the U.S. Census Bureau.
What they don't mention about that statistic is that according to USA Facts.org around 421,000 Texans left the state from 2020 to 2021 for a a net gain of around 500K.
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