Toyota moving to Texas

NEW -> Contingent Buyer Assistance Program
Acpme,
Are you seriously thinking about relocating to Dallas? Yes, 0% state income is very sweet. I actually know of a friend who recently relocated to Plano and he owns his own business in the tech space. Plano is a clean, nice, safe, family oriented place just like Irvine at third the cost. I know that real estate prices in Plano has risen quite a bit though in the last few yeaers and the population growth is on fire.

acpme said:
Panda said:
Both the Denver and Dallas Housing market is on fire making new highs. Flower Mound is also a very nice area. Did you know that property taxes are around 3% in Plano?

Dallas.jpg
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But no state income tax and overall lower costs of housing/living.

Will say that Prop 13 is nice and makes it hard to ever consider selling a property in CA.

Flower Mound and the lakeside neighborhoods in the far northwest of Dallas are some of the wealthiest in North TX, but a bit far from employment centers. Plano is in the sweet spot of a massive shift in corporate relos from CA, IL, and other high cost states.
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Nope, just spend time down there. I think it's a great place but ultimately Dallas too parochilal. Austin is fun to visit but still a small town and not quite there yet. Houston is diverse but boring and that weather is unbearable compared to North TX.
 
Drip, Drip,  Drip...

California's skyrocketing housing costs, taxes prompt exodus of residents

During the 12 months ending June 30, the number of people leaving California for another state exceeded by 61,100 the number who moved here from elsewhere in the U.S., according to state Finance Department statistics. The so-called "net outward migration" was the largest since 2011, when 63,300 more people fled California than entered.
"The main factors are housing costs in many parts of the state, including coastal regions of California such as the Bay Area," said Dan Hamilton, director of economics with the Economic Forecasting Center at California Lutheran University in Thousand Oaks.

"California has seen negative outward migration to other states for 22 of the last 25 years."

A recent poll revealed that an unsettling sense of yearning has descended on people in the Bay Area: About one-third of those surveyed by the Bay Area Council say they would like to exit the nine-county region sometime soon.

"They are tired of the expense of living here. They are tired of the state of California and the endless taxes here," said Scott McElfresh, a certified moving consultant. "People are getting soaked every time they turn around."

http://www.mercurynews.com/business/ci_30037774/greener-pastures-beckon-some-beleaguered-residents
 
morekaos said:
Drip, Drip,  Drip...

California's skyrocketing housing costs, taxes prompt exodus of residents
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Love how surveys show people leaving mostly due to high housing costs, while the writer will blame taxes. This is Economics 101:

In a perfectly elastic market, how to you fix a surplus of demand?

Answer: Increase the price

What do you expect to happen after you increase the price of housing?

Demand decreases (residents move to other states)
Supply increases (if only we could manufacture land in San Francisco, Orange County, etc.)

So since supply is pretty much constrained (the market is not perfectly elastic), the main outcome is that residents move to other states in reaction to increasing housing prices.
 
From your article:

But when they sought to buy a home, the most affordable they found was a small $550,000 tract house in Yorba Linda, the price reduced because it had been the scene of a double homicide. Even so, they calculated that with student debt and car payments, they would ?feel overwhelmed and burned out? trying to make ends meet.
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FYI: murder houses sell at a discount.
 
40% below 1990 levels?... Hmmm well now we need to move to a pre-fire and wheel economy and all hold our breath or wear a catalytic converter over our face...sounds like a winning formula for a thriving economy.  Wait, we are the only state doing this? Texas looking better and better.

California becomes a global laboratory in fight against climate change

California will become a petri dish for international efforts to slow global warming under legislation signed by Gov. Jerry Brown on Thursday, forcing one of the world?s largest economies to squeeze into a dramatically smaller carbon footprint.

The legislation, SB 32, requires the state to slash greenhouse gas emissions to 40% below 1990 levels by 2030, a much more ambitious target than the previous goal of hitting 1990 levels by 2020.

Cutting emissions will affect nearly all aspects of life in the state ? where people live, how they get to work, how their food is produced and where their electricity comes from.

http://www.latimes.com/politics/la-pol-ca-jerry-brown-signs-climate-laws-20160908-snap-story.html


 
OK, its not Texas but the reasons are clear. Its the high earners that want out. Whats left?...

How one woman is fighting to keep Toastmasters from leaving Orange County

A nonprofit known for training people to give great speeches has clammed up about efforts to move its worldwide headquarters out of Orange County.

Toastmasters International ? with 179 employees and 345,000 members in 15,900 clubs in 142 countries ? will hold a vote this week at its International Convention in Washington, D.C., on a proposal to move to Denver from Rancho Santa Margarita, where the organization?s home base has been since 1990. A two-thirds vote is required for approval. The club was founded in Santa Ana in 1924.

? She believes the reason the move is being proposed is the top members of the Toastmasters board will face a lower personal income tax rate in Colorado.

Colorado?s income tax rate is 4.63 percent for all incomes. California has nine tax rates, the highest being 12.3 percent.

Individuals also pay less in property taxes in Colorado. California homeowners pay a minimum of 1 percent of their property value in taxes. It can increase up to 3 percent a year. In Colorado the tax rate is decided based on an assessment rate multiplied by the fair market value of the home. Every year it changes.

Right now, an Orange County homeowner would pay $8,800 a year in property taxes on a $800,000 house, while a Colorado resident would be paying less than $5,000.

For companies, taxes are much lower in Colorado than in California. Colorado companies pay 4.63 percent of their company?s net income. California companies pay 8.84 percent, but also have a minimum amount they pay in taxes.

http://www.ocregister.com/articles/toastmasters-725912-move-colorado.html
 
irvinehomeowner said:
Isn't it always more expensive to live in the better areas?

I'll take the beach over the mountains and the desert.
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I like it better out here, but I rarely ever go to the beach anymore.  I guess it depends on how much you go to the beach.  Other places have nice lakes, and other things, though. 
 
Let's be clear they are a non profit, according to the article. Just think of the cost to move the corporate office to Colorado. Also, housing costs in Colorado is increasing.


morekaos said:
OK, its not Texas but the reasons are clear. Its the high earners that want out. Whats left?...
How one woman is fighting to keep Toastmasters from leaving Orange County

A nonprofit known for training people to give great speeches has clammed up about efforts to move its worldwide headquarters out of Orange County.

Toastmasters International ? with 179 employees and 345,000 members in 15,900 clubs in 142 countries ? will hold a vote this week at its International Convention in Washington, D.C., on a proposal to move to Denver from Rancho Santa Margarita, where the organization?s home base has been since 1990. A two-thirds vote is required for approval. The club was founded in Santa Ana in 1924.

? She believes the reason the move is being proposed is the top members of the Toastmasters board will face a lower personal income tax rate in Colorado.

Colorado?s income tax rate is 4.63 percent for all incomes. California has nine tax rates, the highest being 12.3 percent.

Individuals also pay less in property taxes in Colorado. California homeowners pay a minimum of 1 percent of their property value in taxes. It can increase up to 3 percent a year. In Colorado the tax rate is decided based on an assessment rate multiplied by the fair market value of the home. Every year it changes.

Right now, an Orange County homeowner would pay $8,800 a year in property taxes on a $800,000 house, while a Colorado resident would be paying less than $5,000.

For companies, taxes are much lower in Colorado than in California. Colorado companies pay 4.63 percent of their company?s net income. California companies pay 8.84 percent, but also have a minimum amount they pay in taxes.

http://www.ocregister.com/articles/toastmasters-725912-move-colorado.html
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True, so no savings in corp tax. heck, they don't even save in rent or lease costs. According to the article

"The group owns its headquarters building on Arroyo Vista, according to CoStar, a real estate information group."

More a move for the individual high income corp. heads but out they go, bye bye high income earners....hello who?
 
In my opinion it doesn't make sense. Where's the savings for the organization?

morekaos said:
True, so no savings in corp tax. heck, they don't even save in rent or lease costs. According to the article

"The group owns its headquarters building on Arroyo Vista, according to CoStar, a real estate information group."

More a move for the individual high income corp. heads but out they go, bye bye high income earners....hello who?
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morekaos said:
True, so no savings in corp tax. heck, they don't even save in rent or lease costs. According to the article

"The group owns its headquarters building on Arroyo Vista, according to CoStar, a real estate information group."

More a move for the individual high income corp. heads but out they go, bye bye high income earners....hello who?
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Are they paying mortgage on it?
 
momopi said:
If you check metro link web site for trains running from north corona main station to Irvine station, you will find 4-5 trains in morning and 4-5 trains in afternoon.  Commuting by train to work in Irvine (1 HR each way) is feasible.  Houses in Corona are much cheaper than Irvine, Mike Raahauges range local, ~15 miles to ranch 99 in chino hills.

Hmm.  In retrospect maybe I should have invested in Corona instead of Murrieta and Temecula.  If you lived in Temecula and had to drive to corona station to take train to Irvine, the commuting will be like 2 hours each way.
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Update:  quoting former coworker who takes the train from Corona to Tustin station for work, the morning commute is a sardine can -- expect to stand all the way.
 
Telling line....

The minimum wage in Colorado is $8.31 an hour. A current ballot initiative would phase in a $12-an-hour minimum wage by 2020. In California, the wage floor will increase incrementally to $15 by 2022.
 
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