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Updated over 5 years ago,
Investing in high prop tax state without the income tax benefits?
I currently am living in CA and just cashed out my investment property and am looking for a new market to invest in. My goal is to start buying and holding a portfolio of cash flowing properties through BRRRR method to help leverage my funds to there max potential. I have 200k to deploy but have been having a tough time narrowing down my search. I like a lot of the economic indicators: jobs, population growth, appreciation potential in Texas but I'm a touch weary about the high property tax rates while I'm unable to take advantage of no state income tax. I know if the numbers still work out to meet my criteria its just another line item. But I'm also considering making it a rule of thumb to stay out of the Lone Star State? Also with the potential passing of the Property Tax Reform and Relief Act of 2019, authored by Bettencourt (R-Houston) this could be less of a concern. Any thoughts would be much appreciated!
Read more at: https://www.bisnow.com/houston/news/property-management/commercial-property-owners-need-tax-relief-just-like-homeowners-98929?utm_source=CopyShare&utm_medium=Browser