Property taxes? (Dallas, Richardson: low income, house, public school)

[sablebaby]

Hi there,

I'm trying to get a comparison of prop taxes for Dallas and surrounding areas. Would anyone be willing to share what they pay and how big their house is and what it's worth?

In Glendale, AZ for my 1436 sf home, I paid $300k for, I pay about $1100 a year in prop taxes. All of AZ is cheap, I know. But we also have no cops (at least you never see them), and bad education.

Thanks!

[socketz]

About 8k on a 325k home.

You can figure on getting taxed on 90% of what you paid for your home, then the rates are between 2.5-3.0 percent depending on where you live.

Don't forget that there is no state income tax here as well.

[sablebaby]

Originally Posted by socketz

About 8k on a 325k home.

You can figure on getting taxed on 90% of what you paid for your home, then the rates are between 2.5-3.0 percent depending on where you live.

Don't forget that there is no state income tax here as well.

Thanks!

Wow, that is a lot. I did do more research on here and found people quoting 2.25-2.75%. Do you feel you're getting what you pay for? We don't out here. We know we don't pay a lot and we see we don't get a lot.

That's just amazing! It's not even 1% where I live. Mine would be .33%. Can you even believe that?

[AZtoTX]

What about the "homestead" exmption? How does that work?

Thanks

[sablebaby]

Texans correct me if I'm wrong, but doesn't the homestead exemption take off $15,000 off at the top to figure taxes? So, if the house is $300k, the taxes would be figured at $285k?

[socketz]

Your correct:

http://en.wikipedia.org/wiki/Homestead_exemption

[KantLockeMeIn]

Also keep in mind that you won't pay state income taxes here. Arizona has a fairly low income tax, so it's not as dramatic as moving from CA or NY, but for a married couple earning 80k, that's $2600 in income taxes not paid.

A nice 1500-1700 sq ft place in Richardson would go for about $160k, and the taxes on that would be around $4k... so it's not that different.

[cdelena]

Although Texas property taxes only rank the ninth highest when comparing taxes per capita, the tax as a percentage of appraised value is the highest in the country. And current laws allow them to go up 10% A year with no cap... in fact my taxes have gone up 10% every year for the last ten years... it is one of the reasons I am leaving the state.

[GoPadge]

The homestead exemption only knocks 15,000 off for the school portion of your taxes. In most of Collin county the schools account for ~60% of the tax bill.

[momof2dfw]

Ya'll sittin down? Who wants to pay my tax bill?

Here are my homestead exemptions (which you get across the board)

Exemptions (Certified 2006)
City School County College Hospital
$25,651 $15,000 $85,506 $85,506 $85,506
Taxable
Value: $401,879 $412,530 $342,024 $342,024 $342,024


Tax
Rate
per
$100 $0.6786 $1.5449 $0.218934 $0.081 $0.254

Est.
Taxes: $2,727.15 $6,373.18 $748.81 $277.04 $868.74


Total Estimated Taxes: $10,994.91
This is on a home that is close to 5000 sq ft, 4bed/4bath/3garage, pool, etc.


Hopefully this came out right up there and you can follow the lines and taxing jurisdictions. The highest one I pay is $6373.18 for school taxes. Considering I have two children in public school w/ one of them being at a magnet for the gifted & talented, I feel like I'm getting a bargain. Now if anyone wants to look at my business property taxes ............... OUCH!