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3 Reasons Why Property Taxes are Higher in Texas

Property taxes in Texas have been one of the highest in the USA. Why are property taxes so high in Texas and how can American Finance & Investment Company, Inc, help you with the Texas tax rate? Read on for more info. Taxes in Texas The first reason why the Texas property tax rate is so high is that the Texas county is dependent on revenue from property taxes. How much is taxes in Texas? It can reach a maximum limit of 8.25% and it is a vital source of revenue for the Texas government. The property tax is simply to make up for the lack of other government revenue. What do the taxes in Texas pay for? The money is used for resources for public schools, libraries, emergency services, road maintenance, and community safety measures. The Texas tax rate, therefore as high as it is, contributes to the facilities that many Texas citizens use and need. Another reason tax is so high is because of property values. Property tax is determined as a percentage of your home’s value. The value of homes in Texas is rising. The third reason is that taxes are set at the local government level. This means the state cannot change the tax rate. Luckily there are property tax lenders such as AFIC who can help you to settle your property bill quickly. To contact qualified tax lenders for your property taxes in Texas, contact us today!

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