Increasingly, some legislators are advocating for applying the combined state-local sales tax rate (8.25%) to all real estate sales transactions that occur in Texas. A sales tax on real estate would be assessed on real estate when ownership of the property is sold or transferred from one party to another (also referred to as a transfer tax). A sales tax on real estate would also apply to longterm leases. Proponents argue applying the sales tax rate to all real estate transactions could eliminate the burden of school property taxes in Texas. In 2007, school property taxes accounted for 53.8% of total property taxes levied.
ZIP Codes: 75225, 75230 Location Characteristics: Located just north of the Park Cities this estate area boast large lots with quality homes. An established neighborhood with character and distinction, good retail centers, access to major highway/arteries.
About Greg Pape:
Service Above Self. I am a dedicated expert in neighborhoods that I serve. I identify market trends and put my expertise to work in serving you.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
