I came across couple of infographics/informative maps shared by my favorite money blogger at mymoneyblog.com. I thought of putting it at my moneyreallymatters.com website but decided to share it here. I might really help to shed some light about Texas Tax obligations compared to others states to prospective home owners and people who are thinking about moving to Texas.

Below is the sales tax comparison map,

As you can see, we rank #11 up on the top of states which charges high sales tax from their residents to satisfy goverment expenses but at the same time we don’t have income tax which is a big plus. You only pay on what you earn not what you make so you can save more money.

Here is the Property Tax Comparison map,

There is no ranking but you can see our Property Taxes are up and above $2000 compared to other states/counties. It is the big chunk of money, we residents pay to get our necessities from County & State. Apart from local sales tax, property taxes are another income source to local government since we don’t have State Income tax. There are pros and cons to having high property tax and no income tax which can feed to another post.

About Vijaianand Thirnageswaram

I am a Proud Realtor of Texas, trying to guide and help clients to find their dream home and educate them to buy them for right price. I am also a Candidate for CFP who has more financial knowledge which allows me share and educate clients in any financial decision making process.

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