Much was made of the so-called tech exodus from California to lower-tax Texas during the COVID-19 pandemic. But a new report finds it's not quite as good of a deal as many think.
Though Texas has no state-level personal income tax, it does levy relatively high consumption and property taxes on residents to make up the difference. Ultimately, it has a higher effective state and local tax rate for a median U.S. household at 12.73% than California's 8.97%, according to a new report from WalletHub.
