Tax advantages exist in Del Rio
Texas is a state that understands taxes have a significant impact on local business success. With no corporate income tax, Texas qualifies as the 14th best State Business Tax Climate Index in 2022, per the Tax Foundation. Several key taxes for Del Rio businesses include:
Property Tax
Del Rio property taxes offer an extremely reasonable advantage for property owners. Texas has no state property tax and, per the City of Del Rio, the 2021 voter approval tax rate is $0.707895/$100. The Texas Comptroller website’s property tax calculator indicates the 2021 Val Verde County property tax rate was 0.5342% and the school district property tax rate was 1.0322%.
Sales and Use Tax
Del Rio’s total sales tax is 8.25%, including a Texas sales and use tax rate of 6.25% on retail sales, leases, rentals and taxable services, 1.5% city sales tax and 0.5% county sales tax. The Texas Comptroller is an excellent resource to determine total rates by address.
Franchise Tax
Texas has a privilege tax on taxable entities formed, organized or doing business in the state. The Texas Comptroller has current rates based on factors such as total revenue, cost of goods sold and compensation.