As many of you know Texas is 1 of 9 states that has no personal income tax. However, for Texas to get funding for social programs, operating costs, and debt, Texas still has a few tricks up its sleeve to recoup the monies lost from not having an income tax. Hello, skyrocketing property taxes!
The tax that will have the biggest impact on homeowners is, of course, the property tax. Yes, you must pay property tax as a homeowner even if you own your home outright. BOOOO! Property taxes in Texas are determined by county appraisal district in which you live.
As a homeowner or potential homeowner, it is very important to stay informed about your property taxes. Being well informed will help you choose the best property for your budget. It is strongly recommended to reach out to a professional before you enter a contract. If you need to see what the tax rates are please send an email and we can give you a list of what the taxes are going to be for your property or prospective property.
Lucky for you, we are in the business of taking care of our clients. Do not worry, taxes do not have to be all doom and gloom. We are here to help. Here are a few exemptions that may help you save some money.