Question about cutting payments
03-01-2007, 10:12 AM
#41
Suzuka Master
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Originally Posted by DuckDodgers
Yep...that's what I get for living in Texas for 19 years...what is this state (or city, for that matter) income tax of which you speak? The point you make is correct, but don't forget your deduction varies on filing status. In Texas (with no state income tax) the best money columnist did the numbers to prove a house below 150K ain't worth anything as a tax savings to a married couple.
Locally (and this is in Georgia nowhere near the coast) tear-down houses on 1/6 to 1/4 acre lots are going for $500K+ just for the dirt in some places.
State income tax here is 6%, so anyone approaching a 6 figure income can usually itemize anyway.
03-06-2007, 07:31 PM
#42
in the 24th and a half...
Originally Posted by rb1
150K???
Originally Posted by rb1
Locally (and this is in Georgia nowhere near the coast) tear-down houses on 1/6 to 1/4 acre lots are going for $500K+ just for the dirt in some places.
Originally Posted by rb1
State income tax here is 6%, so anyone approaching a 6 figure income can usually itemize anyway.
Heck, I looked at georgia once...called by the State Licensing people for vehicles. Nice lady explained that "Honey, he-ure in Jaw-ju if it moves forward, backward, or stands still, we tax it!"
03-06-2007, 09:55 PM
#43
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Originally Posted by DuckDodgers
We get the property taxes...on a 171k house, property taxes are about 5k with your exemptions.
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