Taxes
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4/19/2015
Although Texas does not have state income tax, sales tax at 8.25% and excessive property tax take a huge bite out of income. Taxes on a $200,000 home in most Texas cities will cost you approximately $5,500 per year. For a retiree on a limited income from social security and other pension income, there are many other states where paying income tax and property tax is a major savings over Texas property taxes.
Ronald | Copperas Cove, TX