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Frio is 33rd in average size of tax refunds…
La Salle County ranks ninth in the state in the size of the average tax refund according to IRS data analysis by SmartAsset when finding places in Texas receiving the largest refunds.
More than 70% of taxpayers in the US receive a refund, which can be helpful for those taking on a home improvement project or paying off debts. Those refunds vary by county statewide, however.
The SmartAsset study measured the total amount of money refunded by the IRS to each county divided by the number of refunds given out in each county to determine where residents received the highest average tax refunds. Places with the highest amount refunded on average ranked highest on the list.
La Salle’s 2,030 taxpayers eligible to receive money saw an average tax refund of $3,955. Paired with its 330 taxpayers owing taxes at an average amount of $12,664, La Salle earned a Refunded Index Value of 59.92.
Glasscock County was tops in the state on the list with a value of 89.17. Glasscock’s 360 eligible taxpayers earning refunds averaged $4,994 while its 220 taxpayers owing, averaged $26,709.
Frio County ranked 33rd on the list. It’s 5,390 taxpayers eligible for refunds average $3,620 in refunds. It’s 790 taxpayers owing taxes averaged $7,554 owed.
Each tax season millions of U.S. taxpayers are issued refunds for the amount of money they overpaid within that tax year. Meanwhile, some taxpayers end up owing money to the IRS after filing their taxes because they underpaid throughout the year. SmartAsset analyzed data from the IRS to determine the counties where people received the highest average tax refunds and the counties where people owed the most money after filing their taxes.
To determine the counties that received the highest average refunds, SmartAsset divided the total amount of money refunded by the IRS in each county by the number of refunds issued in each county. They did the same to calculate the average amount owed, by dividing the total taxes owed in each county by the number of filers that still owe taxes.
They then ranked and indexed each of the counties where residents receive the highest average refunds and where residents pay the most after filing their taxes.
Founded in July 2012, SmartAsset is a financial technology company that publishes articles, guides, reviews, calculators and tools to help people make decisions about personal finance. They have also provided research studies featuring data analysis on topics like best cities for women in tech and most affordable places to live. SmartAsset also operates SmartAdvisor, a digital platform that connects consumers with financial advisors.