Return to GN 8/18

[olds442jetaway]

LL.....It looks like both you and I will again be making substantial contributions to our state and Federal deficits. I only hope the funds will be spent wisely and not squandered or stolen. I’m afraid the chances of that are about the same as the pot of gold being at the base of the beautiful double rainbow I saw after the storm last week.

[Lucky Larry]

Olds, luckily Texas doesn't have an income tax. Property, business and sales taxes provide the primary funding for state and local government. In Texas, state taxes are repeatedly lowered for businesses forcing residential property taxes up higher. When I started in the early 70's and was president of the local education association the state funded local education at about a 70% state funding, 20% local funding and 10% federal. Based on current funding charts from the state comptroller state funding is 35%; local 55% and federal 10% and we are 15th in wealth as a state but fund education at the 37th rank among 50 states. You see where the priorities are.... once again luckily most local governmental entities have been forced to freeze tax rates with massive exemptions for seniors. So we pay no local county taxes but huge property school taxes.

[seemoreroyals]

Larry, not sure what part of Texas you live in but I live in Northeast Texas and we pay both a county tax and a School tax. Granted the school tax is much higher. It is nice to not pay a state income tax but sales taxes and school taxes seem to be higher here than in other places we visit.

[Lucky Larry]

Larry, not sure what part of Texas you live in but I live in Northeast Texas and we pay both a county tax and a School tax. Granted the school tax is much higher. It is nice to not pay a state income tax but sales taxes and school taxes seem to be higher here than in other places we visit.

Yeah, but you're probably a young whippersnapper! County taxes freeze in our county at age 65 and with the tax exemption for the county we don't pay anymore. (Partly thanks to me constantly challenging tax appraisals for years before as they moved steady upward.) We wanted to have them below the age 65 tax limit when we reached it. An advantage of building a nice home in an older subdivision. Yes, sales and state taxes are higher due to: 1) lack of income tax; 2) continuous tax reduction of the corporate tax rates means residential has to pay more.

[seemoreroyals]

Larry, not sure what part of Texas you live in but I live in Northeast Texas and we pay both a county tax and a School tax. Granted the school tax is much higher. It is nice to not pay a state income tax but sales taxes and school taxes seem to be higher here than in other places we visit.

Yeah, but you're probably a young whippersnapper! County taxes freeze in our county at age 65 and with the tax exemption for the county we don't pay anymore. (Partly thanks to me constantly challenging tax appraisals for years before as they moved steady upward.) We wanted to have them below the age 65 tax limit when we reached it. An advantage of building a nice home in an older subdivision. Yes, sales and state taxes are higher due to: 1) lack of income tax; 2) continuous tax reduction of the corporate tax rates means residential has to pay more.

I guess I need to contact the county I live in and find out if they have a county tax exemption. We have a homestead exemption that takes some of the taxable value away. I still have 4 more years to go to get the over 65 property tax freeze.