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Tax Structure

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State Gross Public Debt

Debt Per Capita

$1,876.29

Total Debt of State

54.6 Billion

Total Debt of Local Governments

258.7 Billion

Combined Total Debt

313.3 Billion

Gross Domestic Product(GDP)

1,867.80 Billion

Real Estate Growth

2.1%

Median Total State and Local Taxes

National Median Total State and Local Tax Rate Per Household

12.71%

National Median Total State and Local Taxes Paid Per Household

$7,380

State Median Total State and Local Taxes Paid Per Household

$6,576

Difference Between National Median and State Median

18.14%

State Bond Ratings

Fitch

AAA

Moody's

Aaa

S&P Global

AAA

State Income Tax

Income Tax Rate

None

Number of Brackets

Top Income Range

State Real Estate Tax

Mean Real Estate Tax Rate

1.83%

Mean Real Estate Taxes Paid

$2,775

State Unemployment Insurance Tax

New Employer Tax Rate

Varies

Sales Tax

State Sales Tax Rate

6.25%

Coke County

0.00%

Fisher County

0.00%

Howard County

0.00%

Jones County

0.00%

Mitchell County

0.50%

Nolan County

0.00%

Runnels County

0.50%

Scurry County

0.50%

Sterling County

0.00%

Taylor County

0.00%

Tom Green County

0.50%

Minimum Sales Tax Rate (State and County)

6.25%

Maximum Sales Tax Rate (State and County)

6.75%

Sources:

Tax Foundation