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Dntnbrown, Other/Just Looking in San Francisco, CA

what are personal income taxes in texas?

Asked by Dntnbrown, San Francisco, CA Sun Nov 27, 2011

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T.E. Sumner’s answer
This is one good point for Texas - we don't have an income tax.

As others have pointed out, our real estate taxes as a percentage of value are higher, but comparing 3-bedroom/2-bath homes around the country, you might find Texas real property taxes lower or comparable to those in other places.
0 votes Thank Flag Link Thu Dec 15, 2011
No personal income tax in Texas that I know about.
I think we are one of two states. The other is Nevada.

Most of our taxes come through property and sales taxes.
People from CA think the property taxes are high, but I like to remind them that our property values are about 1/3...so it equals out. Property taxes are typically 2-3% of the value per year hear. Yours may be 1%....but when you think a $100,000 house here might be worth $300,000 in Bay Area....it ends up being about the same.

What I found moving from Bay area to here is that everything is cheaper. For example gas today is $2.97/gallon at the cheaper places. Food was cheaper for me, car insurance cheaper, car license fees cheaper, nearly everything I can think of. The exception might be power bill. We probably use more heat and more cooling than we did in Bay area.
1 vote Thank Flag Link Mon Nov 28, 2011
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
In Texas you do not pay taxes on your income. Property taxes are assessed by the tax appraisal district in April of every year. If the amount is higher than you believe you should be paying, you have until May 30 to protest your taxes. Property taxes in Texas support the schools and roads. Depending on the school district you select to live, you can pay anywhere from 1.85% to 3.19% based on the County tax assessor's most recent appraisal amount. Taxes are paid in arrears so if you purchase a preowned home, you will pay taxes based on what tax appraised value the home was assessed in 2011. If you select a brand new home, your taxes are lower as you will pay taxes based on the value of the land and an aproximate value of the home. (Typically the amount you paid for the home times the tax percentage that corresponds for that particular school district.) After you live in the home on January 1 of the tax year, you qualify for the Homestead tax exemption which is typically reduced by $15,000 of the tax appraised value. Tax assessors determine the tax appraised value of the property in April and you have until the end of May to protest the amount if you believe your home was appraised at a higher amount than you believe you should be charged. So to answer your question, income is not taxed in Texas. Please let me know if I can be of any further assistance.

Lucy A. Puniwai
puniwai@fathomrealty,com
(214) 783-6416
1 vote Thank Flag Link Sun Nov 27, 2011
We do not have personal income taxes in Texas . However our property taxes probably higher than other parts of country

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Mon Nov 28, 2011
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