Texans’ Tax Burden Ranks Among the Lowest in the Nation

• The Tax Foundation’s annual ranking of state and local tax burdens once again places Texas among the lowest.

• For 2010, Texans paid some $3,104 in state and local taxes, measured on a per-capita basis. Comparing to per-capita income of $39,142 yields a state-local tax burden of 7.9 percent, which ranks 45th. By comparison, in top-ranked New York, the burden is $6,375 (12.8 percent). In New Jersey it’s $6,689 (12.4 percent), and for third-ranked Connecticut, the burden is $6,984 (12.3 percent). At the other end of the spectrum are Alaska with $3,214 (7 percent) and South Dakota at $3,035 (7.6 percent).

• It is important to note that the burden calculated is total state and local taxes paid by state residents divided by each state’s total income.

• The Tax Foundation adjusts for things like visitors from out of state paying sales tax in Texas, which would be adjusted out, or a Texan paying property tax on a second home in New Mexico, which would be added back in.

Texas is a Top-10 Green Job State

• Texas took the No. 6 spot on a list of the top 10 states with the most green jobs in the third quarter, according to an analysis by Environmental Entrepreneurs.

• More than 10,800 jobs in the clean energy sector and related industries were reported across the U.S. during the three months, a dramatically smaller number than the two previous quarters this year, E2 said in its report.

• The report tracked more than 37,000 clean energy jobs in the second quarter, and 46,000 jobs in the first quarter — nearly four times as many in the most-recent quarter.

• Topping the list were California and New York, respectively. Nevada placed 10th.

• Texas nabbed a much higher ranking during the third quarter compared with the previous three months when it was ranked No. 15.

HAR Packs ‘Em In For The BIG e

• Hundreds of HAR members flocked to the Norris Conference Center at CityCentre on Houston’s west side on October 25 for the second annual BIG e.

• HAR-TV was there to capture HAR’s most talked-about technology and marketing event of the year in this video.

Weekly HAR Market Stat1.3 million Americans were reportedly lifted out of underwater mortgage situations this year from rising home prices, according to the Obama administration's October Housing Scorecard. Increased prices help restore the tax base, minimizing the likelihood of tax increases later. Even national GDP benefits from these conditions. The real estate recovery appears to be well underway. It's not at full speed yet, but the open track ahead beckons.

 

In the Houston region, for the week ending November 4: • New Listings decreased 6.7% to 1,728

• Pending Sales increased 38.4% to 1,486• Closed Sales increased 43.4% to 1,513

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Senior Real Estate Specialist (SRES)

Completion of the Seniors Real Estate Specialist (SRES) designation course is an essential step for REALTORS® to understand the distinct real estate goals, concerns, and needs of seniors today. This course looks at key differences in housing options, from age-restricted communities to age-in-place design to assisted living; applications of the Housing for Older Persons Act (HOPA); the ins and outs of reverse mortgages; the use of pensions, 401k accounts, and IRAs in real estate transactions; and developing a team of senior specialists, including estate planners, reverse mortgages lenders, clutter and staging specialists and more. THIS COURSE FEE INCLUDES YOUR $99 FIRST-YEAR DUES FOR SRES.

Date: Thursday & Friday, Nov. 15-16Time: 8:30 a.m. – 4:30 p.m.Location: HAR Central & Bay Area (via video conf.)

Investment: $179