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March 8, 2017 Comments Off on Texas: Land of High Property Taxes Views: 618 Texas News, Top Texas

Texas: Land of High Property Taxes

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A new study from WalletHub dubbed the Lone Star State as having some of the highest property taxes in the nation. Texas’ average effective real estate tax is 1.9%, which WalletHub ranks as the sixth-most expensive in the U.S. At the average home value of $136,000, Texans, on average, are paying $2,578 in taxes each year.

On the positive side, Texas has no vehicle tax. In addition, Texas doesn’t have state income tax, which is why revenue is heavily dependent on property taxes. Even renters don’t escape paying property taxes, as those fees are built into rental rates.

Read More at Austin Business Journal

Read More at WalletHub

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