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PMI Premium Deduction in Austin, TX 2026

Calculate your pmi premium deduction tax savings in Austin, Texas. Texas has no state income tax, so savings come from the federal level.

Texas Tax Context

State Income Tax
None
Local Income Tax
None
Property Tax Rate
1.78%
Tax Burden
Very High

No state income tax; tech hub (Silicon Hills); rapidly rising home prices

$1,100
Est. Total Savings
No Limit
Max Deduction
Itemized
Deduction Type
22.0%
Combined Tax Rate

PMI Premium Deduction Savings Calculator for Austin

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Federal Savings

$1,100

22% bracket

Texas State

$0

0% rate

Local Tax

$0

0% rate

Total Savings

$1,100

22.0% combined

At a 22.0% combined tax rate in Austin, every $1,000 in deductions saves you $220 in taxes.

Savings by Tax Bracket in Austin

10%
$500
12%
$600
22%
$1,100
24%
$1,200
32%
$1,600
35%
$1,750
37%
$1,850

Includes 0% Texas state tax on top of federal savings.

Eligibility Requirements

Homeowners paying private mortgage insurance

  • 1AGI under $109,000
  • 2Must itemize
  • 3Mortgage after 2006

Common Mistakes to Avoid

  • !Not checking AGI phase-out
  • !Forgetting lender-paid PMI

Required Tax Forms

Schedule AForm 1098

File these forms with your federal tax return to claim the pmi premium deduction.

Other Tax Deductions in Austin, TX

Mortgage Interest Deduction

Housing

~$3,500
est. savings

Property Tax Deduction

Housing

~$2,200
est. savings

Home Office Deduction

Housing

~$1,200
est. savings

Home Energy Tax Credit

Housing

~$1,800
est. savings

Residential Solar Tax Credit

Housing

~$7,500
est. savings

Military Moving Expenses

Housing

~$4,000
est. savings

Mortgage Points Deduction

Housing

~$2,000
est. savings

Casualty & Theft Loss Deduction

Housing

~$5,000
est. savings

PMI Premium Deduction in Other Texas Cities

Houston, TX

0% state tax

~$1,100

San Antonio, TX

0% state tax

~$1,100

Dallas, TX

0% state tax

~$1,100

Fort Worth, TX

0% state tax

~$1,100

El Paso, TX

0% state tax

~$1,100

Arlington, TX

0% state tax

~$1,100

Corpus Christi, TX

0% state tax

~$1,100

Plano, TX

0% state tax

~$1,100

Calculate Your Full Tax Savings in Austin

Use our free tax calculators to optimize your entire tax return for Texas.

Income Tax CalculatorTaxes in AustinFull PMI Premium Deduction Guide

Frequently Asked Questions

How much can I save with the PMI Premium Deduction in Austin, TX?

In Austin, Texas, the pmi premium deduction can save you an estimated $1,100 per year. This includes $1,100 in federal tax savings. The national average savings is $1,100/year.

What is the Texas state income tax rate for Austin residents?

Texas has no state income tax, which means the pmi premium deduction only provides federal tax savings for Austin residents. No state income tax; tech hub (Silicon Hills); rapidly rising home prices

Who qualifies for the PMI Premium Deduction in Austin?

Homeowners paying private mortgage insurance. The eligibility requirements are the same whether you live in Austin or elsewhere in the U.S., as this is a federal tax deduction. However, your savings amount will vary based on Texas's 0% state tax rate.

What tax forms do I need to claim the PMI Premium Deduction in Texas?

To claim the pmi premium deduction, you need to file Schedule A and Form 1098 with your federal return. Filing status affects your deduction limits and tax bracket.

Is the PMI Premium Deduction better in Austin than in states without income tax?

Since Texas has no state income tax, the pmi premium deduction only reduces your federal tax bill. Residents in states with income tax get additional state-level savings. However, Austin residents often benefit from lower overall tax burden (Very High).

Related Calculators

Mortgage Interest Deduction in Austin

Avg savings: $3,500/year

Property Tax Deduction in Austin

Avg savings: $2,200/year

Home Office Deduction in Austin

Avg savings: $1,200/year

Home Energy Tax Credit in Austin

Avg savings: $1,800/year

Residential Solar Tax Credit in Austin

Avg savings: $7,500/year

Military Moving Expenses in Austin

Avg savings: $4,000/year