Minimum down payment on FHA loans increases Oct. 1, 2008
August 18, 2008Spring TX Real Estate: Market Report July 2008
August 24, 2008
There is no denying that our real estate taxes in Spring Texas are higher than in other states. But you shouldn’t ONLY take into consideration real estate taxes when considering whether its affordable to live in Spring Texas.
For 18 consecutive years the nonpartisan Tax Foundation has published an estimate of the combined state-local burden of each of the 50 states. And they have just released the State and Local tax burden estimates for 2008 and our big state of Texas came in as the 8th lowest state in state-local tax burden. And this rating of being in the top 10 lowest states in state-local tax burden is not a flux. We have enjoyed this ranking for the last four years.
We, Texans, pay 8.4 percent of our income in state and local taxes, compared to New Jersey at 11.8 percent, New York at 11.7 percent, Connecticut at 11.1 percent and Maryland at 10.8 percent. What’s the national average?
The national average state-local tax burden is 9.7 percent.
Would you be able to guess what state enjoys the lowest state-local tax burden? If you guessed, Alaska, you would be correct. Alaska’s state-local tax burden is 6.4 percent. The other states with a lower state-local tax burden than Texas are Nevada, Wyoming, Florida, New Hampshire, South Dakota, and Tennessee. Coming in at #10 is Louisiana with a state-local tax burden of 8.4%.
Just one more reason why we live in Spring Texas. Read our Top 20 reasons to call Spring Texas home. Did you hear the news that Spring Texas homes are #14 for affordability?
If you are thinking about relocating to Spring Texas, please give us a call at 281.804.8626. We will be happy to help you find the right house to call “home” in Spring Texas.
