Property tax question...Denton County (Dallas, Lewisville: houses, buying, school)

[wankel7]

I'm looking at houses in Lewisville and I want to make sure I have this right.

Property tax is based off of the county appraisal of the house?

So if a house has a Denton County appraisal of 113,000. And I homestead it... 113,000-15000=98000. Then I think the tax is 2.33 percent so the tax is 2254?

What confuses me is this. I am looking at the MLS print out for this property. They are asking 119,000. And the MLS says the unexempted tax amount is $2,771. I don't understand where this number even comes from? Is it simply the asking ammount times the tax rate so you can ball park it?

Just trying to figure out my finances if I get this house and would like to figure it to the penny if I can

Thanks for any help!

[cdelena]

Not all taxing authorities honor the same amount of exemption. The overall tax rate is made up of numerous taxes on differing amounts so your calculation is only a best case estimation.

[Guingirl]

You can call the local tax collection office and give them the address. Tell them you are looking at buying it and can they tell you what the exact tax on it would be and they will give it to you over the phone.

I did this with Tarrant County and they were really helpful. I know...it is pretty confusing.

[loves2read]

there are levels of taxation within a county--some places have more tax bills than others -- Tarrant Appraisal District has a good web site that allows someone to click on an address and see the appraised value and all the taxing entities the taxes go to--there is separate page that shows the tax rate...

Tarrant Appraisal District Dallas might have a similar setup...

[wankel7]

Well, that was a good idea. I called them to check on it.

I did learn something though. The Homestead exemption is only applied to the tax created by the school tax rate. I was under the impression that the homestead exemption was applied to the full tax ammount.

Thanks!

James