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Property tax increases can be overwhelming. Here is some info on property taxes in texas and how to lower property taxes in Texas.
property taxes in texas
Corelogic tax service Texas
Texas has an average tax burden for its citizens. Sales taxes for the state are comparatively low at 6.25% (it can reach a maximum limit of 8.25%). As taxation is a vital source of revenue for local governments, the burden falls squarely on property taxation to make up for the lack of other revenue.
Property tax money (tax revenue) is utilized for essential resources for Texas citizens, including public schools, libraries, emergency services, road maintenance, and community safety measures.
How to reduce property taxes
This isn’t possible as the State of Texas doesn’t determine what your property tax bill will be, as this is set by your local authorities. For changes to occur, they would have to be passed by the state legislature, which hasn’t happened at this point. In fact, state funding for public education has dropped in recent years from 45% to 38%.
At American Finance & Investment Company, Inc, our compassionate and qualified team will settle your property bill quickly. We can help with an affordable property tax loan and customized repayment plan to help you get back on your feet.
For more info on how we can help with your property tax increases, call us today!
Read More: https://afic.co/blog/why-property-taxes-are-higher-in-texas
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