This is a good example of selectively using information to demonize states that a reporter doesn’t like - Texas in this case:
“You might be surprised to see the Lone Star State on the list of least tax-friendly states for retirees...Texas’ main problem is with its property taxes. The state’s median property tax RATE is the seventh-highest in the country.”
Note the word “rate”. Yes, it’s on the high side, but a high rate for homes that cost half as much as the more expensive states pretty much negates itself. Furthermore, if you really don’t like a high property tax rate, then live in a cheaper home, or in a condo. Try doing that with income tax.
“Sales taxes are on the high end in Texas, too. The state imposes a 6.25% tax, but local governments can tack on up to 2% more. When combined, the average state and local sales tax rate in Texas is 8.2%, which is the 14th-highest combined rate in the country.”
Except one HUGE item when it comes to sales taxes is cars, and they are always taxed at 6.25%, and that tax is on the final price of the car, so if you get $5,000 cash back, you don’t pay any tax on that $5,000 - whereas in many states you do. Also, besides cars, the flat 6.25% rate also applies to campers.
And many retirees who become empty-nesters choose to downsize, either by selling their homes and buingy smaller homes or renting. This would minimize or negate the impact of property taxes altogether.
Also, Texas homestead exemptions will lower the assessed value of your home by $25,000. Furthermore, retirees who are 65 or older can receive a senior exemption of an additional $10,000 off of their assessed value.
-PJ
Or not in the Austin, Houston or Dallas areas.
This article also misses the fact that the general cost-of-living is less in Texas than it is elsewhere. Of course, certain items like cars won’t be much less expensive, but when you combine lower prices for land, and no state income tax, the overhead burden for many businesses is much lower than in states that don’t have these factors.