Texas Taxes
12-30-2008, 09:59 AM
#1
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Texas Taxes
Does anybody know what the state taxes for Texas are like?
I'll be moving there in March, and due to my current situation I will most likely have to renew my drivers license in Texas. (Wichita Falls area).
I heard Texas does not have state income tax...but I imagine they make it up through other taxes.
I may have the option to renew my license in the state of Delaware (which has fairly low taxes), but if Texas is a tax haven than someone let me know!
I'll be moving there in March, and due to my current situation I will most likely have to renew my drivers license in Texas. (Wichita Falls area).
I heard Texas does not have state income tax...but I imagine they make it up through other taxes.
I may have the option to renew my license in the state of Delaware (which has fairly low taxes), but if Texas is a tax haven than someone let me know!
12-30-2008, 10:17 AM
#2
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12-30-2008, 10:44 AM
#3
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12-30-2008, 01:21 PM
#4
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Yes, Texas has no income tax. There is a sales tax at the state and local level, the most it can be is 8.5%. And there are weird parts to it. Groceries aren't taxed, meals at a restaurant are. So if you buy 6 or less doughnuts it's considered a meal and you pay sales tax. Seven or more are groceries and no tax. Dog food is taxed unless the dog lives on a ranch or farm. Then there is property tax on things like houses, RVs and planes. I've got a $2100 check waiting to go in the mail tomorrow on a 90k house. Energy is fairly cheap.
12-31-2008, 07:03 AM
#5
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....Energy is fairly cheap.
Texas has a very low cost of living. Drivers license and registration are very inexpensive. Sales tax isn't too bad but it varies from city to city. Energy rates a higher than some parts of the country but lower than others. Property taxes are high. Most places in the DFW area for a $100,000 home you are looking at about $2400/year in property taxes. The great thing is though that you can get a lot of house for $100,000 to $150,000 if you buy in the right area. Good luck!
P.S. Wichita Falls is always windy and it can get extremely hot there in the summer time.
12-31-2008, 03:52 PM
#7
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Actually, state law limits the max sales tax to 8.25 percent between the state, the city, the school district and who ever else has their hand in the till. Not quite as strong as needing a constitional admendment to impose an income tax, but still third rail level.
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