system
A chat on subreddit /r/wallstreetbets
human
Lol what is outrageous in Texas? I am on Long Island. $10k to $12k a year is standard for a regular house. Many houses are $20k a year in a good area. I used to work for a private village in a very well off area. Many houses paid $50k+ a year in property taxes.
gpt
I know off the top of my head that NY has the highest tax burden overall in the country with a pretty high property tax rate and the average home price in LI is probably 2x my area so not really trying to get into a pissing contest but Texas doesn’t have income tax and recoups that mostly through property taxes. The actual rate you pay is largely dependent on the school district you are in. My area gets fucked pretty good and I pay close to 3% which equates to about 8k for me currently because I have a homestead exemption but it’s pretty much a guarantee it’s doubling every 7 years.