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Tax Relief in Texas

Texas MapIndividual wages and salaries earned by the residents and nonresidents form the sources of personal taxes. The state levies these taxes to fund its governmental units like school systems, road maintenance and more. Seven states of the country do not levy a personal income tax on their residents. These states include South Dakota, Tennessee, Texas and others. South Dakota compensates this exemption by levying property tax at the state level. While in Tennessee, the residents have to pay a tax on income earned from bonds, stocks etc. The state of Texas, on the other hand, does neither.

Property tax is collected by local taxing units in Texas. These include counties, cities, and school districts. Automobiles, airplanes, boats and travel trailers all fall under the category of personal property that can be taxed, if they are a source of income. The total tax rate will vary, from county to county and even year to year. A residential homestead exemption is available for people who became owners of a particular property on January 1. While even greater exemptions are given to taxpayers who are 65 (and older) or disabled.

The latest figures available for the median household income in the state of Texas are the figures from the year 2013. These figures show a value of $51,704 which is not only lower than the median household income in the US ($52,250) but also a decrease from what the value used to be in 2012 ($51,477) in the state of Texas itself. A decrease in household income is often attributed to an increase in debt and sometimes, outstanding taxes. For those that are seeing a smaller paycheck it can be a challenge to set aside enough money to pay for any unexpected expenses. Factors like lower income and an increasing rate of unemployment can create a greater tax delinquency. Tax relief programs offer solutions to these residents.

Using strategies like negotiated penalty abatement, audit representation and reconsideration, and tax return amendment and review, various companies offer tax relief programs. A tax relief company will work with its clients to get them out of tax debt. Tax delinquency is a very serious issue and can result in the seizure of your assets. A tax relief company can offer a way out.

 

Stop the political shell games: Everyone needs to help solve Texas' property tax problem

Texas has seen unprecedented property value growth in recent years. At the same time, property owners have seen their property taxes rise. This has created a frenzy among state lawmakers in Austin ove...

Published:  Thu, 20 Sep 2018 00:00:00 GMT



Democratic lieutenant governor hopeful Mike Collier talks school funding and property taxes

The Texas Tribune thanks its sponsors. Become one. Collier said that eliminating the "loophole" does not amount to raising taxes for big companies. "It's unlawful what they are doing and all that I'm ...

Published:  Thu, 20 Sep 2018 05:50:00 GMT



Tax Office closes for active-shooter training

The Cameron County Tax-Assessor Office in the downtown Brownsville Levee Building ... is an adjunct professor with the Advanced Law Enforcement Rapid Response Training, or ALERRT, at Texas State Unive...

Published:  Thu, 20 Sep 2018 21:24:00 GMT



Top House tax writer Kevin Brady doubts new GOP tax cuts can get through the Senate before midterms

the top House tax writer said Wednesday. House Ways and Means Committee Chairman Rep. Kevin Brady, R-Texas, said "the time is short before the election" to approve bills his party has dubbed its secon...

Published:  Wed, 19 Sep 2018 06:38:00 GMT



Texas keeps slurping up local property taxes [Editorial]

Do you hear that giant sucking sound going up U.S. 290 It's the sound of our state government in Austin slurping up your local school taxes. Last week, the Texas Education Agency projected that the s...

Published:  Mon, 17 Sep 2018 07:00:00 GMT



New Cedar Park Tax Rate Is Lowest In More Than 15 Years

CEDAR PARK, TEXAS - The recently passed tax rate for homeowners adopted by city council members will not not result in an increase but represents the sixth consecutive year of lowered tax rates ...

Published:  Mon, 17 Sep 2018 16:13:00 GMT



Ross Ramsey: Property taxes rise, state education spending falls. That's the design.

Every fix lasts a decade or two, and then the whole thing has to be rebalanced. Texas remains heavily reliant on property taxes; according to the Tax Foundation, ours is the sixth-highest such tax in ...

Published:  Mon, 17 Sep 2018 05:11:00 GMT



Releasing tax returns an issue again - in governor's races

In several states, candidates are refusing to release their tax returns. That's true even in states with ... A federal judge will consolidate all federal lawsuits against the U.S. Air Force over the T...

Published:  Thu, 20 Sep 2018 06:11:00 GMT



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