In this post, we’ll fill you in on taxes in Texas, but more specifically, the town of Prosper and Denton County as a whole.
Everything’s bigger in Texas—except for the taxes. The state of Texas ranks 46th on the state-local tax burden scale and that makes it a tax-friendly state. As the Dallas-Fort Worth area remains the fastest-growing part of the country, it’s a great place to plant roots and thrive for families young and old. Some of the most important factors that homebuyers must consider before making the big move are job opportunities and local tax rates. Luckily, North Dallas is booming and Texas taxes will cut you a break.
Does Texas have income tax? No way.
Does Texas have any property tax? Not here.
How about an estate tax? Not in the Lone Star State.
The Town of Prosper is located in Denton County. There are certain parts of the county where residents are responsible for paying what are called MUD taxes. This map shows you whether or not you’re in a MUD district anywhere in Texas. Simply search an address, and you will see the MUD districts are outlined in red on the map. To learn more about MUD taxes, you can read here. To get into the numbers, here’s an infographic that we put together that shows what you need to know about Prosper and Denton County taxes.
The base sales tax rate for Texas is 6.25%, so, Prosper’s sales tax is only 2%. Denton County, on its own, doesn’t have any sales tax. Compare Prosper, Texas’ taxes against cities like Los Angeles and Chicago—the state of California has a base sales tax rate of 6%, plus 1% for Los Angeles County, plus .25% for Los Angeles City, plus 2.25% for the Los Angeles District tax, and you’re sitting at 9.5% in sales tax alone. Chicago’s combined sales tax sits pretty at 10.25%.
Earlier, we talked a little bit about MUD taxes. Prosper and Denton County are not free from MUD taxes, but Windsong Ranch is. This is something that needs to be considered when looking at other master-planned communities because most have MUD taxes to pay for their amenities and upkeep. Not Windsong Ranch.
As the home of incredible experiences such as the biggest crystal lagoon in all of Texas, Windsong Ranch is a 2,000-acre+ community that will make you think that everyplace else is just ordinary. Pair this with the unbeatable tax-friendly nature of Texas—it’ll be hard to wish you lived anywhere else.
See it all for yourself, and schedule a tour today.