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"High Property Taxes, Heat, and Tornadoes, TOO? Why would I want to move to Austin, Texas?"
As a real estate broker in Austin, I have found that there are a few questions that typically surface when I am speaking with someone who is looking to relocate to this area. I thought it might be a good idea to address some of these head-on, in an effort to educate. Also, I wanted to touch on some of the reasons that I call Austin home.
Property Tax: Yes, real estate property taxes are high here in Austin, but we have no state income tax in Texas. Property taxes are used to fund our school districts, city and county governments, water districts (sometimes), and more. The tax rates range from about 2.5% to just over 3%. Austin proper is currently taxed at 2.5254%.
Our clients who have moved from areas with a state income tax in place have said that their overall tax burden typically stays about the same or slightly decreases. Clearly, this would not be the case on an investment property, but there are still plenty of good properties that are cash flow positive with a normal down payment.
Additionally, the Texas legislature recently passed a bill to reduce property taxes by 50 cents per ... more
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