OMG check out this tax rate

[cheryjohns]

Originally Posted by elnina

I wonder why they listed tax rate for two school districts there...
You drop Spring and the tax rate goes down to 3,1361
This is Klein ISD only

3.13 is correct for that subdivision.

[rogerbacon]

Tax rates here are crazy. In Miami people are going ballistic with the 2% tax rate (although that means a lot of newer residents are paying over 8,000 a year in taxes). At 3.5% there would be rioting in the streets. Never would I have thought that a strong Republican state like Texas would have such high tax rates. Also, where does the money go? It sure doesn't go to fixing the roads. They are terrible here.

[Zhang Fei]

Originally Posted by rogerbacon

Tax rates here are crazy. In Miami people are going ballistic with the 2% tax rate (although that means a lot of newer residents are paying over 8,000 a year in taxes). At 3.5% there would be rioting in the streets. Never would I have thought that a strong Republican state like Texas would have such high tax rates. Also, where does the money go? It sure doesn't go to fixing the roads. They are terrible here.

Based on City Data stats, property taxes are reflected in Houston and Miami home prices:

For Houston:

Estimated median house or condo value in 2008: $132,900 (it was $77,500 in 2000)
Median real estate property taxes paid for housing units with mortgages in 2008: $3,046 (2.1%)
Median real estate property taxes paid for housing units with no mortgage in 2008: $1,358 (1.3%)

For Miami:

Estimated median house or condo value in 2008: $313,300 (it was $116,400 in 2000)
Median real estate property taxes paid for housing units with mortgages in 2008: $3,521 (1.1%)
Median real estate property taxes paid for housing units with no mortgage in 2008: $2,778 (1.0%)

Basically, a roughly equivalent home costs $133K in Houston and $313K in Miami, and incurs lower property taxes in Houston than in Miami, even though the tax as a percentage of property value is higher in Houston. What's astounding is that Miami's median income in 2008 was $28,333 compared to Houston's $44,315, meaning that homes in Houston are much more affordable to the average working stiff than in Miami, after accounting for income differences. In addition, in 2008, Miami had a higher crime rate than Houston, despite the average Miami homeowner having to shell out higher property taxes than the average Houstonian.

[chris_ut]

Originally Posted by rogerbacon

Tax rates here are crazy. In Miami people are going ballistic with the 2% tax rate (although that means a lot of newer residents are paying over 8,000 a year in taxes). At 3.5% there would be rioting in the streets. Never would I have thought that a strong Republican state like Texas would have such high tax rates. Also, where does the money go? It sure doesn't go to fixing the roads. They are terrible here.

Don't forget no income tax. Texas is one of the lowest tax states in the country.

[Zhang Fei]

Originally Posted by chris_ut

Don't forget no income tax. Texas is one of the lowest tax states in the country.

FL has no state or local income tax.

[Liljo22]

Originally Posted by rogerbacon

Tax rates here are crazy. In Miami people are going ballistic with the 2% tax rate (although that means a lot of newer residents are paying over 8,000 a year in taxes). At 3.5% there would be rioting in the streets. Never would I have thought that a strong Republican state like Texas would have such high tax rates. Also, where does the money go? It sure doesn't go to fixing the roads. They are terrible here.

I am from South Florida but live in Houston now so I can speak on both. The property values in Miami are higher than they are in Houston so it all evens out. I sold my 1,600 sq ft townhome in Coral Springs for $217,000 and bought a 3,200 sq ft house in Houston for $250,000. My current house would have been worth $350-400,000 back in my area. Since the appraised value was so much higher in South Florida, they could get away with a lower tax rate to get the taxes needed to run down there.

Now that the property values have dropped down there, the cities and school district are in a panic because of the budget deficits they are facing. The tax rates are going to rise because of this.