property taxes in TX (Austin: for sale, 2013, homes) - Texas - Page 2 - City-Data Forum

montevista1 · 01-04-2007, 05:25 PM

If you have to ask you can't afford it.

cdelena · 01-04-2007, 05:26 PM

Quote:

Originally Posted by momof2dfw

I've lived in Dallas County and do to this day and have myself fought DCAD many times and mine has always been well under the REAL market value. Maybe you are expecting too much. Even a good mortgage broker will tell you the general rule of thumb for the Dallas area market is 10%. Your experience is what it is and mine is what it is so you can not tell me also that mine is not valid either.

Many have experiences that are different. Here is an actual example of townhomes I am familiar with in uptown.

DCAD appraisal $216, sold $209. DCAD appraisal $217, sold $219. DCAD appraisal $250, professional market appraisal $224, DCAD appraisal $236, professional market appraisal $239. These are actual sales and professional appraisals used for refinancing. There is no 10% margin, in fact this segment is appraised at 103% of fair market value.

CHEWY12 · 01-04-2007, 05:52 PM

cdlena,

Do you think the property tax situation will get any better ?

chewy12

cdelena · 01-04-2007, 09:35 PM

Quote:

Originally Posted by CHEWY12

cdlena,

Do you think the property tax situation will get any better ?

chewy12

I don't see how; there continues to be demand for more revenue in Texas but limited places to get it. The state had a surplus this year but school tax reform (which seemed to trickle down to very few people) apparently has pointed the budget towards another deficit.

The state had proposed that property tax assessments be limited to 5% increase per year instead of the current 10, but county tax authorities and local municipalities were up in arms saying they could not manage without the annual increases driven by higher appraisals. I guess that idea is dead.

Even though Texas is relatively low in expenditure per student, the large influx of students especially those without English skills has put a major burden on the education budget which is funded through property taxes (and allocated with a bizarre shuffle of funds from district to district). In most large metropolitan areas there is a growing tax burden for public hospital support.

No, I see no reduction in sight. But it could be worse... look at property taxes in New York State (on top of an income tax).

CHEWY12 · 01-05-2007, 06:29 AM

Rising taxes seem to be a common problem that we all face no matter where you live. Here in SWFL we also face the same problem with our school systems. People just wash up on our shore here and get absorbed into the assistance programs that are funded by the "taxpayers". One thing that really bothers me is the lack of fiscal responsibility that some local governments have. Our school supt. has a salary well over 200K and a teacher can't even buy a home here due to a low salary I see a big problem with this. I'm sure you have a similar problem in your area. Here in Naples we have senior citizens living in RVs year round because they can not afford the costs of owning a home anymore and these are not poor people by any means these are middle class to upper middle class folks. This is a sad thing to witness. The gap is getting wider all the time. I think sooner than latter the rubber bands that are holding us together as a country are going to break.

NEWSMD · 01-05-2007, 01:34 PM

The average total tax bite on your home even after you have paid up the mortgage and have no payment left... there would be appx $7000 - $7800 per year tax liabilty each year you are the title owner..
This includes the School+ county+ city+community college taxes...and is roughly 2.6%-3% in and around DFW area... Some Houston suburbs it could reach 3.5%+ as you pay for MUD (Municipal utility District)
There has been talks for reducing tax liability on the real estate has been heard since 1980's and yet the tax bite has gotten bigger. They have a couple of ways they can go about reducing prop taxes.. increase sales and other business taxes.. or bring in the state income tax... both as worse as the situation we have been for years. The need for Big & fresh tax revenues is real and cities have no place to go other than our bank a/cs.

You must also keep in mind that your Home value increases appx 4-7% as a state average. So the total tax dues go up, lets say in your home value range ($250K) tax bite yearly would be from $7000 to $7350.. As the new homes keep popping up everywhere - it continues to fuel the need for new tax money and pushes up the property values... hard to escape that in any city in TX now...I know one thing that I would hate to be a retired person still paying some ridiculous tax rates...after paying up my 30yr mortgage..
hope it helps..

I've read on this forum, and have heard from other people, that Texas property taxes are outrageous. Can someone explain to me how they work there? What would the annual property tax be on a $250,000 home?

Also I've been reading that there is legislation currently in Texas to reduce property taxes. Can someone educate me on this too? Thanks![/quote]

juliema · 01-07-2007, 08:55 PM

I don't know. I'd almost rather have a state income tax if it meant lower property tax. Something about making homeowners handle the majority of the state burden while renters get off the hook just doesn't sit well with me. also, what about homestead exemption? How does that factor into DCAD's value of the home and the taxes assessed to it?

cdelena · 01-08-2007, 07:55 AM

In theory renters pay taxes through the rent. In practice you will find that property owners that rent and pay property taxes based upon an income calculation pay far less than homeowners. The property taxes per capita paid through rentals is a fraction of what is paid by owner occupants.

The homestead exemption gives you several legal rights to protect your home and exempts 20% from taxation.

TXknitter · 12-11-2009, 10:03 PM

We have lived and had homes in four different states. I find that we tend to think that because TX doesn't have an income tax that we are doing good. Well, they get plenty out of us with one of the largest sales taxes in the nation plus property taxes. When we lived in OR, we spent about the same to live to tell you the truth - the taxes were just spread around and "called" other things. Just my humble thoughts...

Steel Man · 12-12-2009, 01:46 PM

Quote:

Originally Posted by TXknitter

We have lived and had homes in four different states. I find that we tend to think that because TX doesn't have an income tax that we are doing good. Well, they get plenty out of us with one of the largest sales taxes in the nation plus property taxes. When we lived in OR, we spent about the same to live to tell you the truth - the taxes were just spread around and "called" other things. Just my humble thoughts...

If you itemize your deductions then the bite isn't as bad as the property taxes is one of the things that add up to higher deductions. You can also claim state and local sales taxes if you itemize. Texas is one state where you can do this as there are no state income taxes.