Texas property taxes are the sixth highest in the country
S E E D E D C O N T E N T
There's is a lot families have to consider when buying a home in the growing state of Texas. Besides the mortgage rate, location, and overall price of the home, there is the cost of yearly property taxes.
A recent Tax Foundation analysis compared property tax rates across the country and found that Texas had the sixth highest property tax rate in the U.S. At a tax rate of 1.68%, the Lone Star State topped the property tax list with states such as New Jersey, which has a 2.23% rate, and Illinois, which has a rate of 2.08%.
Despite Texas' lower cost of living, places with higher costs of living like California and New York had a .75% and 1.40% tax rate, respectively. The biggest contributing factor in Texas' high rate is the fact the state doesn't have income tax and relies on property taxes to pay for government expenses, according to the analysis.
According to 2021 data, Bexar County residents pay a median property tax of $3,719. In Travis County, which is comprised of Austin, residents pay a median property tax of $6,517. In the growing country of Comal, families pay a median property tax of $4,087, according to the analysis.
Depending on the neighborhood, size of the home, along with other factors, property taxes can exceed well over $10,000 in 2023 thanks to the $1,000 increase in 2022 as a result of the growing housing market. This has led many to protest their property values in hopes of bringing the property tax down.
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However, some relief is on the horizon. Governor Abbott recently signed an $18 billion tax cut to help Texas homeowners with rising property taxes. Using funds from the state's $12.6 billion budget, the relief includes cutting school taxes, which would drop taxes by more than 40% for some homeowners, according to a Texas Tribute news report.
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What? What? Why in hell are property taxes over twice as high in Texas at 1.68% as compared with New York at only .75%? Are Texans getting their dollars worth in services? It just seems like really bad governance to me...
From your article. "The biggest contributing factor in Texas' high rate is the fact the state doesn't have income tax and relies on property taxes to pay for government expenses". That would mean property taxes are high and there are no state income taxes. Considering the number of people moving to Texas from the shithole called California it seems they take total taxes into consideration and not just a portion of them.
The article is a good example of cherry picking data to come to the wanted conclusion. Intellectual dishonesty at its finest.