Relocating to Texas? Here are some things you need to know about Property Taxes!

Property Taxes
Because Texas does not have a state income tax, it makes us a popular place for relocations. When you dig a little deeper, you realize our property taxes may be higher than some states, but when all is considered, the various trade-offs for calling Texas your new home are worth it.

However, if you are a transplant from another state, your former state may still expect you pay their property tax. It pays to plan ahead and make sure you have cut the proper ties. Just because you many no longer consider yourself a resident of your previous state, there may be some other factors that cause them to think otherwise.

Here are a few points to review. If any of these apply to you, it will be wise to be proactive and get it handled and changed over, instead of procrastinating and receiving a penalty letter from the IRS:

  • The amount of time you spend in your previous and current state
  • Where your spouse and children live, and where your children go to school
  • The state where your driver’s license is issued
  • The state where your vehicles are registered
  • Where your professional licenses are maintained
  • Your location of employment
  • Where you file your tax returns
  • The address of any professional listing (online, social media, yellow pages, etc.)
  • The location of any property tax exemptions you claim

If you are planning on making a move from one state to another, be sure to get professional advice from a tax specialist on what your particular tax caveats might be. It is not wise to assume the tax laws will be logical.

Please visit our Buyers Resource Page regarding Property Taxes for more information you may find useful.

For any of your relocation needs, whether you’re selling your home in Flower Mound, looking for a family home in Colleyville, or you simply want to explore your options, Sandy Luedke and Ideal Real Estate Group have the expertise and long-standing record of Texas hospitality and service to help you get where you need to go.

After all, there’s no place like home, and we’d love to help you find yours!

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