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Updated about 6 years ago on . Most recent reply

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David Smith
  • Rental Property Investor
  • NJ/PA
149
Votes |
555
Posts

States with no income tax

David Smith
  • Rental Property Investor
  • NJ/PA
Posted

Like Texas, Florida 

You get bigger returns when analyzing two deals with same cap rate with one in FL the other in NY? 

Right? 

Most Popular Reply

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Bjorn Ahlblad
  • Investor
  • Shelton, WA
6,950
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6,603
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Bjorn Ahlblad
  • Investor
  • Shelton, WA
Replied

I lived in Ca for 30 years-13% state income tax-moved to Wa in 2017 0% state income tax. I could have bought a nice house in Wa with the capital gains tax I paid in Ca. Fortunately some were in a 1031x that I rolled into Wa properties with no tax! 

In Ca if you held properties for a long time your property taxes became low compared to property values due to appreciation. 

I thought my happiest day was when I moved to Ca-wrong; second happiest. Happiest was when I left in 2017. It was a wonderful place to live and raise a family, but also a great place to leave! LOL

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