What are the current tax rates in Texas?
An example of an AI chatbot conversation about Texas tax rates and regulations.
What are the current tax rates in Texas?
Texas has no state income tax, but there are sales taxes and property taxes. The state sales tax rate is 6.25%.
Are there any local sales taxes I should be aware of?
Yes, many cities and counties in Texas impose additional local sales taxes, which can range from 0.5% to 2%.
How does Texas property tax compare to other states?
Texas has one of the highest property tax rates in the U.S., averaging around 1.69% of assessed value.
What are the exemptions available for property taxes in Texas?
Texas offers several exemptions, including homestead exemptions, over-65 exemptions, and disabled veterans exemptions.
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