Moving to Texas from California

 

CALIFORNIA

California is ranked first in having the largest population of 39,538,223 among the US states. Its total area on US west side is 163,696 sq mi (423,970 km2) which is the third-largest in the US by size. However, for the past 10 years, residents are continuously leaving California. According to the US Department of Finance, California’s population will fall by 182,083 persons by 2020. 

California is also the US state with the highest gross state product (GSP) of about $3.2 trillion, or $80,600 per capita. Its largest employment sectors included trade, transportation, utilities, government, professional and business services, education and health services, leisure, and hospitality.

 

TEXAS

Located in the US South Central region, Texas is a state in the USA  with a population and area that are the second-largest among US states. Its population is 29,145,505 in 2020 and a total area of 268,596 square miles or 695,662 km2.

Texas ranks second in having the world’s largest economy, trailing only California’s.  Its gross state product (GSP) was $2.0 trillion in the third quarter of 2021. The state’s large and diverse economy was due to its enormous population, the richness of natural resources, dynamic cities, and top higher education centers. Site Selection Magazine named Texas the most business-friendly state in the country in 2010. It boasts the most Fortune 500 business headquarters in the United States. 

High technology industries have their headquarters in Texas including the Lyndon B. Johnson Space Center (NASA JSC), AT&T, Dell Inc., Indeed.com, Forcepoint, Perot Systems, Rackspace, and Texas Instruments. From California, an increasing number of businesses are moving to Texas.

 

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MOVING TO TEXAS

People Leaving California and Moving to Texas

The first net population decline since 1900 happened in California when about 3.4 million of its residents relocated to other US states like Texas, Nevada, and Arizona, according to the Manhattan Institute for Policy Research.

Texas is the Second Best Place to Move in the USA. The highest newcomers moving to Texas came from the following states:

1. California
2. Florida
3. Louisiana
4. Oklahoma
5. New York

Since 2016, over 70,000 CA residents have moved and completed their relocation to Texas.

Texas became the nation’s second-largest millionaire population with 346,000 millionaires in 2010. The number of millionaire families climbed to 566,578 in 2018, and people moving to Texas continue.

 

 

Businesses Leaving California and Moving to Texas

Even business companies are leaving California and relocating to Texas.

2008 to 2019 records a technology exodus of 1,800 companies from California to Texas for a better tax and regulatory state. 114 companies relocated their headquarters from California and had moved to Texas as per the Hoover Institution at Stanford University. Big companies that moved to Texas from California include Tesla Inc., Oracle Corp., Hewlett Packard., Apple, Google, SmartDraw Software, and Charles Schwab. Businesses continue in leaving California.

 

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THE ADVANTAGES OF MOVING TO TEXAS

Tax Laws and Structures

• California Taxes

California has a maximum marginal income tax rate of 13.3 percent (the highest in the United States), with ten tax bands ranging from 1% at the lowest tax bracket of $0 yearly individual income to 13.3 percent for persons earning more than $1,000,000. In 2017, the federal minimum sales tax is 7.25 percent, plus any additional sales tax levied by the municipal government.

 

The Real Estate Tax is due once a year. The property tax can be raised by up to 2% every year, or the rate of inflation, whichever is larger. Ad valorem tax is evaluated through a property’s fair market value during acquisition or the cost of its new construction.

California ranks in the bottom two in terms of business and individual taxation.

 

• Texas Taxes

IN TEXAS, THERE ARE NO PERSONAL OR CORPORATE INCOME TAXES.

People that relocate their enterprises from California to Texas have a better probability of success.

Texas has low taxes! Because there is no state or personal income tax in Texas, citizens can keep their profits rather than give them to the government.

Texas has a reputation for “low taxes and low services,” according to the Tax Foundation, and it has the lowest state and local taxes in the country, ranking seventh overall, with state and local taxes costing $3,580.00 per capita, or 8.4 percent of resident income.

 

Instead, Texas derives revenue through two sources: 1) property tax or state property taxes collected at the county, city, and school district levels, and 2) sales taxes collected at the state level. A realtor in Texas can help you understand property taxes in Texas.

 

• Cost of Living especially on Housing Cost
• • Housing and rental prices in California are extremely high and 1/3 of renters living in California cannot afford them. 
  • A realtor in Texas is best to consult with about housing and rental prices in Texas when planning to move there.

 

• Cost of Living: California vs Texas

• • Texas City, Texas has a 16.2 percent lower cost of living than California City, California. The most important factor in determining the cost of living disparities is the median home cost. The median property price in Texas City is 27% cheaper. Food and groceries are 2.5 percent lower in Texas, housing costs are 24.5 percent lower in Texas, utilities are 21.9 percent lower in Texas, transportation is 29.5 percent lower in Texas, health is 6.7 percent higher in Texas, and miscellaneous is 0.7 percent higher in Texas.
  • Texas’ cost of living differs in various Texas locations, too. A realtor in Texas could help you compute the cost of living in different Texas urban and suburban areas as well as the other factors to consider in choosing your new home in Texas. 

 

• Laws and Regulations 

During the COVID 19 Pandemic, companies in California were severely disrupted. Texas, on the other hand, offers fewer government regulations, greater economic flexibility for businesses and corporations, and higher affordability when compared to the West Coast. Texas has less onerous regulations that choke businesses.

In March 2021, Texas Governor Greg Abbott stated that he will relax COVID-19 requirements like mask mandates and corporation capacity limits. He and the other conservative lawmakers even advocated for the reopening of schools and the use of face-to-face training.

 

• Business and Personal Growth in Moving to Texas

Out of the 50 states, moving to Texas is a good decision as it is ranked 2nd in 2019 America’s Top States for Business (with 10 key categories of competitiveness) while California is in the last spot (50th).       

Austin, Texas‘ capital city, is placed tenth on Forbes‘ list of the top ten fastest-growing economies, is currently regarded as the second largest in the United States, and will be the leader as major respected firms such as Google and Apple relocate to Texas.

 

Because Texas has been the principal home for many leading American and global corporations, citizens have had more opportunities to earn higher wages and have regular full-time work due to a large number of job openings.

More older adults are moving to Texas because it is a good area to retire. They can even work part-time or seek a second career because many places in the state have excellent employment markets and prospects for seniors. Senior citizens can find a realtor in Texas to help them get a new home and start plans of moving to Texas that best suits them. 

 

For individuals considering moving to Texas, there is still plenty of room for businesses, homes, and recreation. Texas is home to six of America’s largest cities, as well as a plethora of smaller towns and villages that are both appealing and comfortable places to live. Even businessmen consult a realtor in Texas for them to be guided accordingly in finding and acquiring the best office locations or industrial areas that fit their needs. 

 

• Politics

The majority of limitations in Texas are liberally enforced by either the public or the local government. There are many homosexual families, clear local norms, and simple company requirements, so you won’t have to adapt to a slew of restrictions.

• Texas Climate

• The People of Texas 

Although many individuals move between states in the United States, Texas is one of the rare states where the native population is unwilling to leave. It happens because individuals are happy with their lives, which makes them open, friendly, and easy to connect with. A realtor in Texas can also help you understand Texas culture.

• Entertainment and Leisure

When you move to Texas, you will have many possibilities for fun, such as river walking, river rafting, jet skiing, spacewalk in Houston, camping, and visiting amusement parks. If you appreciate live music, you should consider migrating to Austin, which is the live music capital of the world. People who enjoy great meals should remember that Texas boasts the best-fried food and BBQ in the country (there are over 2,000 BBQ  joints in this state).

 

 

THE DISADVANTAGES OF MOVING TO TEXAS

1. There is a requirement for obtaining a Texas driver’s license and car registration.
2. The Commonwealth Fund, which provides health insurance, ranks Texas’ healthcare system as the third-worst in the United States. In terms of healthcare access, quality of care, unnecessary hospital spending, and equity among various demographics, Texas rank towards the bottom.
3. Higher transportation costs, up to 17% higher than in California, a dearth of public transportation, and increased gridlock.
4. Unpredictable weather patterns, with a high risk of storms and tornadoes, as well as flooding in some Texas locations
5. In 2017, Texas emitted nearly twice as many greenhouse gasses as California, the second-most polluting state. If Texas were an independent state, it would be the seventh-largest generator of greenhouse gasses in the world. The state’s significant greenhouse gas emissions are driven by its vast number of coal power plants, as well as its refining and manufacturing businesses.
6. Inability to travel to other states due to the state’s enormous size and heavy traffic.
7. Farmer markets are scarce hence, the limited selection of products for sale.
8. Laws in Texas allow open carry of guns within the state.

 

Homes for Sale:

Houston Texas Click here – https://HoustonSuburb.com/HoustonTexas