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Texas Tax Information Print
Wednesday, 10 June 2009 00:59

Limitation on Appraised Value of Residence Homestead


More information may be found on www.comptroller.texas.gov

Personal income tax

  • Texas residents enjoy no personal state income tax.

Sales tax

Personal and real property taxes

  • Texas does not have a state property tax.
  • Local taxing units (counties, cities and school districts) assess and collect property taxes on all real and income-producing tangible personal property not exempt by state or federal law.
  • Total tax rates vary from location to location and may change from year to year.
  • The average aggregate tax rate often cited in publications about property taxes in Texas is $2.50 per $100 of property value.
  • A residential homestead exemption is available for all, with a greater exemption for taxpayers 65 and older or disabled. Applicants need to file Form 50-114 (download from Comptroller website) Application for Residential Homestead Exemption.  Residents need to file this application between January 1 and no later than April 30.
  • Summary of Property Tax Exemptions
  • If you have additional questions, you may contact the Property Tax Division at (800) 252-9121.

Intangible personal property taxes

  • Texas does not tax intangible property such as stocks, bank accounts or certificates of deposit.

Inheritance and estate taxes

  • There is no inheritance and limited Texas estate tax related to federal estate tax collection.

For more information, contact the Texas Comptroller of Public Accounts at (800) 252-5555 or at the Web site.

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