I don't think a car is strictly necessary in College Station, especially if you don't mind walking/biking a little bit, or just taking the free shuttle service the campus offers. For those few occasions that you simply NEED to get some place a little bit farther, you can always do what all other students do and just offer to bribe a roommate with gas money in exchange for a ride - worked like a charm for me for my first two years as an undergrad in South Texas.
As far as taxes, I'm not entirely sure I understand your question. Do you mean will your $500 rent be taxed? If so, then no. Just be sure that you read over any sort of contract you have with the landlord or roommates so that you know whether your 500 will include utilities or not - typically though, I expect that it will just be a straight 500/month.