Read blog post here.
How TEXAS Taxes Retirees (Blog)
Texas is such a great state. Southern, Mexican, Cajun, German culture all thrown into one place. Plus the diversity in landscape.
Arid in South Texas. Green rolling hills in the east. Deserts, beaches, mountains. Can it get any better? Absolutely fantastic.
Just to set the record straight, there “ain’t no saguaros in texas” https://www.youtube.com/watch?v=mg5VwtODOJQ. You need to go to AZ to see those.
But taxes in Texas are not nearly as favorable as one would think. Yes, no income tax. That’s awesome.
But property and sales taxes are high.
I remember when we lived in South Texas getting hammered by property tax. We had come from Virginia where property taxes were low.
All of sudden having these huge property taxes was a shock to the system for sure.
Texas definitely offsets it with its NO income tax. But then you throw a high sales tax in the mix and you realize Texas is not nearly the panacea many make it out to be from a tax perspective.
Ideally, you’d want to retire to a place that is low in sales and property tax, even if they had an income tax. You can do a lot of proactive planning to minimize the income tax. But there is little you can do from a property and sales tax perspective.
Still Texas is better than most. You can get the wonderful culture thrown in for free too! Hard to beat.
See the video here.
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