What are the two largest sources of tax revenue for Texas municipalities?
A) Sales tax and property tax
B) Income tax and excise tax
C) Tariffs and sales tax
D) Property tax and income tax
E) User fees and franchise tax

Question

Quizplus · Accepted Answer

Sales tax and property tax are the two largest sources of tax revenue for Texas municipalities. Sales tax accounts for approximately 28% of total municipal revenue, while property tax accounts for approximately 58%. Income tax and excise tax are not major sources of revenue for municipalities in Texas. Tariffs and franchise tax are not significant sources of revenue for local governments in Texas. User fees may provide some revenue, but they are generally not major sources of revenue for Texas municipalities.

What Are the Two Largest Sources of Tax Revenue for Texas