You may have heard of the real estate boom that has come and gone across the United States, but if you’ve been paying close attention, you might also be aware of how it has been helped and hindered by a federal estate tax (also known as the death tax).
As with any property tax, there are some things that you can do to protect your investments.
There are also some things you can’t do, like buy real estate that you would not otherwise be able to afford.
Here’s how to know if you’re protected from estate tax liability in Texas, what the death taxes are and what you can buy with the proceeds.
A note on how to figure your tax liabilityIn Texas, the deathtax is levied on all property that is worth less than $50,000 in value.
The value of a home, in Texas at least, is based on the amount of money that a homeowner can borrow to buy the home.
If the home is worth more than $1 million, the owner can deduct the difference from their income tax bill.
If it’s less than the home, they can’t deduct the cost of the house from their tax bill at all.
The death tax is levied by the federal government on estates worth less $5.25 million, but the deathrate in Texas is far higher than in other states, as the following chart shows.
Here is how it breaks down for the deathrates in Texas.
Texas has the highest deathrate of all the states, at about 5.7 deaths per 1,000 homes.
That means that for every one person that dies in Texas every year, there will be more than 3,500 more deaths than if all of the people in Texas had died.
This is the death rate in Texas as of March 20, 2019.
Here are the states with the highest and lowest deathrates, as of that date:1.