Quote:
Originally Posted by EvoFire
So anecdotally the difference of moving from Cali to Texas was 50% off on RE, but I've also heard property taxes and just general cost of carrying the property is significantly higher in Texas. So for your cousin, what's the spread look like? At the end of the day, after say 20 years and the kids are finally out of the house, do they end up saving anything?
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On a percentage base, CA property taxes are lower. But you also have higher property prices, so the difference was nil. But the problem is that their investment are all in TX. But CA collects taxes based on both residency and tax generation location. The 5m figure was something their accountant calculated based on a conservative projection. I was thinking to move out of Canada based on my calculation of 2m. Let alone 5m like them.