8.25 Things Texans Should Know About Their Local Taxes
8.25 is the maximum sales and use tax you can be charged in Texas. Local taxing entities may impose sales and use tax of up to 2 percent. The state sales and use tax rate is 6.25 percent.
Local taxing entities include cities; counties; school districts; transit authorities; and special purpose districts (SPDs) that are created to generate revenue for a targeted purpose.
Since 1992, more than 500 SPDs were created in Texas, representing an increase of more than 45 percent.
State law requires that tax assessors/collectors send property owners their tax bills on or shortly after October 1st every year
Local property tax levies increased 188 percent between the years 1992 and 2010, more than four times the rate the Texas population grew during that period.
Sales tax collections from SPDs increased by more than 1,700 percent between 1993 and 2011 as the number of SPDs increased from 9 to 193.
In Fiscal Year 2011, local sales tax revenue generated nearly six billion in Texas.
This is just the tip of the proverbial iceberg. If you want more in-depth information, including interactive maps and such, visit www.texastransparency.org/yourmoney/localtax/
"Your Money and the Taxing Facts" is one of a four-part series of reports the Comptrollers Office. That’s the .25 we talked about up there. Get it? To see the others, visit www.texasitsyourmoney.org
Some people think that all of President Barack Obama's executive orders are unconstitional..........that's not true....he issued an executive order making them constitional ..........
Watching the news this morning as I began my day, I saw an interesting little story about Barack Obama using his executive authority to issue a decree that he’ll not pay any person working under federal contract, any wage lower than $10.10 per hour.
Immediately, the reporting news channel rushed a, “panel of experts,” onto camera.
I can only believe of this group, after hearing their expert opinion, that they’d either slept through their economics courses taken while majoring in Sociology at college, or that they’d simply forgone that invaluable offering of higher learning entirely.
there hasn’t been a person working under federal contract for a wage lower than $25 to $30 per hour in well over two decades. That’s some sacrifice our Class Warrior in Chief has made on our behalf.
Did you sleep thru American History or Government class the day we studied...."The Davis Bacon Act"?......