The Taxes... (Dallas, Fort Worth, Garland: for sale, real estate, car registration)

[Dorothy1960]

I just don't understand the property tax structure in the Dallas area... city, county, ?? I looked on the websites and geez its looking like a $250,000 house in Garland - the taxes would be about $8,000 per year?

Is Dallas county the most expensive county? What could the taxes be then in Collin County on a $250,000 house?

But am I correct in that there is no income tax in the State... just a high sales tax, like 7.25%

I live in Metro DC area, in a house worth about $400,000 - we're paying $3,600 a year in property tax. Can't really compare, its apples/oranges.

[HeadingtoTexas]

Dorothy, we're in metro DC, too. Our house, worth 540K has a tax bill less than 4K per year. I don't think the taxes on a house in Garland worth 250K would be 8K. We're looking at houses in North Dallas worth more than that and the tax rate is a lot less.

Are you relocating to Dallas?

[Dorothy1960]

Sigh... not this year unfortunately. We had hoped to, but the plan changed. We're shooting for 2009-10. My hubby has a relatively new work assignment that he wants to complete... he's with the DOS at the moment. After he finishes up this tour, he'll take an early retirement and find something with a government contractor in the Dallas area. The way we've heard it, TS and higher clearances are still in great demand and will probably remain that way for some time.

I can't wait to hear how you like Dallas area, and all about your new house. Have you been able to sell you existing house yet here in DC?

[Guingirl]

Originally Posted by Dorothy1960

I just don't understand the property tax structure in the Dallas area... city, county, ?? I looked on the websites and geez its looking like a $250,000 house in Garland - the taxes would be about $8,000 per year?

Is Dallas county the most expensive county? What could the taxes be then in Collin County on a $250,000 house?

But am I correct in that there is no income tax in the State... just a high sales tax, like 7.25%

I live in Metro DC area, in a house worth about $400,000 - we're paying $3,600 a year in property tax. Can't really compare, its apples/oranges.

Yep, Dorothy, you have it right. We were about 1% in CA for property taxes.

Also another thing you need to take into consideration is gas prices are lower and general cost of goods seem to be cheaper here than in CA. Utility prices are a little higher here than CA and also home owners insurance and car insurance is a litte higher due to the hail storms from what I have heard. Car Registration is cheaper here in TX as well.

Different counties, cities and ISDs all combine with ER, Hospital and other Services can contribute to 2% - 3.5% total property taxes.

For example, we were going to build in an area that was in Fort Worth. Our builder had backed out and then decided to build in an unincorporated area of Fort Worth. That little blessing in disguise is saving us 5K in property taxes a year.

[Guingirl]

Originally Posted by HeadingtoTexas

Dorothy, we're in metro DC, too. Our house, worth 540K has a tax bill less than 4K per year. I don't think the taxes on a house in Garland worth 250K would be 8K. We're looking at houses in North Dallas worth more than that and the tax rate is a lot less.

Are you relocating to Dallas?

That could be very right. Momof2DFW would know better as she is in Garland. But that sounds about right.

[HeadingtoTexas]

Originally Posted by Dorothy1960

The way we've heard it, TS and higher clearances are still in great demand and will probably remain that way for some time.

I can't wait to hear how you like Dallas area, and all about your new house. Have you been able to sell you existing house yet here in DC?

TS are in demand, that's what we're banking on. Obviously, not as in demand as in DC where there are scads of opportunities, but they are there. It took us a lot of time to find the right recruiters and companies to focus on. Our house here is not listed and won't be until my husband secures employment in Dallas. He has an interview on Thursday. If that doesn't pan out his current job will have opportunities in the next 4-6 months. Maintaining his clearance level is very important to him. We also want a relo package. Moving is $$$.

I work in banking, so the job market is wide open for me. I am currently a SAHM anyway.

[lh_newbie]

Here's the skinny on taxes in TX:

- After homestead exemption, you'll pay in the range of 2.1-2.5% of your home's value in taxes. Yes, this sounds high in comparison to some states like CA, but if you take into consideration that a $250K home here is anywhere from 2-4x the size of a home in CA, the concept of taxes as a % of your home's value is quickly nullified. In TX, when buying a home, you get so much more for your money it's silly to think in those terms. Buy the home you'd be happy with in CA - the absolute tax bill will be about the same.
- Gas is cheaper here
- Groceries may be a little less here, but not that much
- Eating out for meals is definitely cheaper here
- Sales taxes aren't the cheapest, but we have no income tax (which can be over 9% in some states)

Any way you dice it, if you are looking at a major metro area and the cost of living, Dallas kicks everyone's butt in that arena. Period.

[socketz]

You forgot that salaries are typically higher here and jobs more plentiful (which helps keep salaries higher).

So not only does your money go further, the ROI is better.

[FarNorthDallas]

I have relatives with a townhouse in Northern Virginia (Ashburn maybe) that has been on the market for over 2 years and it still hasn't sold. Apparently there are 65 other similar properties for sale in their zip code. They've even dropped the price way below what they owe on it. Is it possible to sell a place in the DC area?

Sales tax here is 8.25%, at least where I live (Dallas). Property taxes are high. If you go over to that website where people loan money to other people, prosper it's called, if someone is asking to borrow money for property taxes they almost always live in Texas.

[momof2dfw]

Who gave you $8K for a $250K house? That is WAY off. I pulled up a few in Firewheel and here is what I've found with the house value first and yearly property taxes second.

1. $325K = $6500
2. $401K = $8772
3. $350K = $7172
4. $271K = $6160
5. $215K = $4728
5. $224K = $5065
6. $465K = $10,720
7. $897K = $22K
8. $285K = $6484


Now, you can find two houses on the same street or neighborhood that are going to be the same or close in taxable market value and their taxes different as the taxes are based on the square footage, condition of house, location (golf course lot), pool, type of construction, etc. If you find a house you like on a real estate site and you have the address you can look up exactly what they pay on Dallas Central Appraisal District. If you find a house that they are asking WAY above what DCAD has the market value set at then be sure you want DCAD to up their taxable market value too as they will.