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Texas Property Taxes

Discussion in 'Texas' started by PeterS, Oct 28, 2006.

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  1. PeterS

    PeterS Five Time F1 World Champ
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    #1 PeterS, Oct 28, 2006
    Is there anything going on in Texas to address the high property taxes? If the state sees a price boom, a LOT of people are going to get screwed. Prior to making an offer on the house in Round Rock, I'm trying to stomach a grand a month in property taxes!
     
  2. robert_c

    robert_c F1 Rookie

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    #2 robert_c, Oct 28, 2006
    Yes, they are going down in 2007 and 2008. At least here in the Dallas area. But it will be a very small amount.

    Hijack: How does the state get its income if there is no state income tax? Property tax goes to the city and schools, not the state.
     
  3. BigAl

    BigAl F1 Veteran

    Mar 17, 2002
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    #3 BigAl, Oct 28, 2006
    well, welcome to TX peter...... there is supposedly "tax relief" on going but I've yet to see it, in fact taxes were touted to go down, BS, mine went up!
    like robert said.....the price you pay to not have income tax.
     
  4. jimpo1

    jimpo1 Two Time F1 World Champ
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    #4 jimpo1, Oct 28, 2006
    Get over it. You don't pay state income tax, and the yearly taxes/fees on my cars are about $65.

    It all comes out in the end.
     
  5. BigAl

    BigAl F1 Veteran

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    #5 BigAl, Oct 29, 2006
    or....we all get it in the end.....
     
  6. jsa330

    jsa330 F1 World Champ
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    #6 jsa330, Oct 29, 2006
    I'll take the current system over a state income tax...but we're in a "sleeper" neighborhood...once the RE market takes off here, holy *****!
     
  7. LightGuy

    LightGuy Four Time F1 World Champ
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    #7 LightGuy, Oct 29, 2006
    The tax man gets you one way or another.
    I cannot concieve of the total real tax bill in TX being more than CA.
     
  8. PeterS

    PeterS Five Time F1 World Champ
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    #8 PeterS, Oct 29, 2006
    It is for me. I pay $1238 a year for a 4300 SF home on three acres at the base of a waterfall. I'm locked at the rate I bought the house at in '95. The new buyer would pay $12K a year for my home if I sold it tomorrow. One kewl thing CA has that if you sell your house after the age of 55, you can take your old tax basis with you within our county.
     
  9. lovick1

    lovick1 Karting

    Apr 30, 2006
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    #9 lovick1, Oct 29, 2006
    I'm happy with our system in Texas.

    Yes, we pay a bit more for property taxes, but another huge difference is in our consumption tax. At least you can control how much you pay, to a certain degree (By how much you spend). In Dallas you pay 8.25% sales tax, some of the "income tax" states are as low as 4-5%.

    It may be a wash in the long run, but I still like the fact that I am not being arbitrarily taxed by the State on my income. I can choose to buy a pair of shoes for $50 bucks or $150 bucks which gives me control over how much tax I'm gonna pay. It puts the ball in my court... and that's how I like it.

    T
     
  10. frefan

    frefan F1 Veteran

    Apr 21, 2004
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    #10 frefan, Oct 29, 2006
    When I was in cali a few years ago, prop taxes were 1%, have they gone up much? 1% seems pretty reasonable (compared to their wtf are you smoking 11% income tax).
     

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