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Now, now Brennan. According to our Govnuah (A Republican :lol: ), you have a very greedy attitude about the Stelly Plan. Only the wealthy will pay more. ROFLMAO!!
We ain't seen nothin' yet! Wait till they try to sort out the sales taxes.
Oh well, on to the political..........
Obviously you haven't gotten a paycheck yet this year. It was ugly Friday around the office when we got our first one - and miraculously the thing had passed without anyone voting for it (or was that admitting to it now - after they'd been duped). It means $800 extra in withholdings for me and I don't even think I buy that much in groceries per year....certainly don't pay anywhere in that neighborhood for sales tax on groceries and drugs.Originally Posted by maddawg
That was just an ill attempt at humor Markay. I'm on your side. $800? WOW!! That's over $15 per week. You'd have to buy $100 in groceries per week to break even. Better start eating in more often or eating more.
Markay...
Is that $800 per a semi-monthly pay period? 8O :shock:
If so, YIKES!
I'd like to do a comparison of property taxes in Texas to the new income taxes in Louisiana. Where can I get more info on the Stelly Plan?
I'd be interested in the same thing. Especially since I'm considering a move BACK to Shreveport. I'll tell you one thing. The cost of living in Houston is HIGHER than Louisiana (at least when I moved) even though you aren't paying a TX income tax. They REALLY make up for it on Propery taxes even though, GENERALLY, the housing costs are lower. I've also found that with that lower /sq. ft housing cost comes lower quality of construction compared with Shreveport/Bossier.
TDF (Chris)
$800/year - I annualized it, and its definitely noticeable in each check. The proponents of the Stelly Plan put out a website where you could check how it would ALLEGEDLY impact you, but I'm thinking it was quite bogus. We do still have homestead exemption at the very least, but I'm sure they'll be going after that next.
Homestead exemption has been a sacred cow in La. politics since the dawn of time. They would shut down Grambling first.
What if I told you that property taxes on a $150,000 home in the Houston area cost you $4,500 annually, but that Texas has no income tax?
As someone told me that moved from LA to TX: I can pay high property taxes and keep my kids in public school in Texas or I can have lower taxes in Louisiana and pay to send my kids to public schools.
Interesting point.
If you compare the total percentage taken from you by the State of Texas with what they get here in Louisiana I think the percentages would be higher here in Louisiana (just guessing). Problem is that they take bigger bites in Texas (property tax). Everything is bigger there right? We have much lower housing cost here, but generally the public schools and roads are TERRIBLE. Here in Louisiana you can also stand in any location, throw a rock, and hit the campus of a four year university.
If you ever come back this way, I suggest checking out the West Ouachita area. For that matter, Northern Ouachita is good too. Best kept secret in the state.
And, don't forget our serious gas tax! That's noticeably different from Texas - or last time I checked it was anyway.
I wouldn't think so. I never had to pay $4500 in state income tax in LA. Plus the property tax is deductable from federal income tax!
I would disagree about housing costs. To buy the same house I bought in Houston would cost about 20% more in Ruston. Texas has a cheap labor force void of unionization.
The roads and public schools are much better here. I definitely agree with that.
Hard to beat the paycheck here, but... Home is home and somethings are more important than money.If you ever come back this way, I suggest checking out the West Ouachita area. For that matter, Northern Ouachita is good too. Best kept secret in the state.
E.J., I was talking about overall taxes. Yes, a $4500 lick would be hard to recover from. That is why I mentioned the "big bites". I don't know what else y'all have to pay over there but let's look at $100K per year to keep the math simple.
Your tax rate would work out to be 4.5% plus whatever they take from you in sales taxes in gas, groceries and such. We get taxed on everything but going to the bathroom over here. I know that a person here making $100k would pay more 10% of their total income to the state. It will be even worse with Stelly. Probably approaching 15%.
I'm surprised at the housing cost being higher in Ruston than in Houston. I was just going off of what some of my friends in Tyler and Dallas have told me about those cost compared to cost here in Ouachita Parish, which are pretty high themselves.
Give me the breakdown of the NEW stelly taxes in LA so we can compare. I think we are both missing some pieces to do an accurate comparison. Thanks.
The breakdown on Taxes here in the Houston area:
[list:385abb2c64] - Property taxes at 3% to 4% of assessed value (to support school districts, flood control, hospitals, water/sewer districts, county and city budgets, etc.)
- Sales tax around 7% or 7.5%
- NO state income tax, but state fees tend to be higher (such as my engineering license, which is $250/year in TX as compared to $50/year in LA)[/list:u:385abb2c64]
BUT, the schools and roads are MUCH better in TX than in LA.
OH, one other thing. Some of the property taxes here are for debt payment on construction of water/sewer facilities, schools, etc. As the debt is paid down, sometimes (get this), the tax rate is REDUCED. 8O That is one thing I don't ever remember happening in LA.
Something else I forgot. Since I have a mortgage, that $4500 in property taxes is distributed monthly with my note. So, the "bite" is not as bad as it could be...
That's nice.
The Stelly plan would cost y'all 6% in state income tax. I believe that you could count on another 6% from other state, parish, and city governments. May not be quite that high, but it is close. By the time Uncle Sam, Louisiana, Parish, and City officials get through with a couple making $100k here they are lucky to put anything back on top of retirement accounts. I see it every day.
Of course nobody makes us live in 150k houses or drive 20k automobiles, go to Tech games, and eat out once per month. Mike Foster would have us think that we are being greedy for not willingly paying more for less.
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