ab intra silentio vera
Maybe you can explain to me why the property taxes were $4,500 on a $177K home then? I thought Texas was supposed to have favorable taxes compared to California? That is 2.5%, which is a LOT higher than most areas in Los Angeles County which are in the 1.02% range.
There is no state income tax here. My property taxes are comparable on a modest 1800sq.ft. home built in 2004 purchased for around $150k, around $3300 prop. taxes I think it was for 2011. But, no state income tax. A substantial chunk of the prop. taxes go to finance the public school system. Another cool thing I found out about when I moved here, there is an annual tax-free weekend (Aug?) where stuff like school supplies and major ticket items like furniture, cars (I think), and boats can be purchased tax-free. The state publishes a list of applicable items somewhere or other.
EDIT: Rates may depend on the county, since the property taxes are local county taxes, or at least mine are paid to the local County Tax Assessor's Office via escrow. I took that to mean there is no state property tax, just county. And, of course, they are deductible on the annual fed return, or at least a percentage of them or whatever.
Sorry, back to topic >>>