Dallas County Property Tax - URD? (Coppell: how much, buying a home, neighborhoods)

[intence]

While looking at potential houses in the Las Colinas, Valley Ranch, and Coppell areas, I noticed a two peculiar add-ons on the cities estimated taxes:

-Taxes for Flood Control Districts, this was explained in another post by Loves2Read, so it all makes sense

-URD ... I'm guessing this stands for Urban Residential Development? Anyone know what this is for or where the money goes? Last year we looked at the homes being built in LaVillita, and this year I checked out the taxes. This URD line item almost doubles the property tax. Has anyone heard of this, can the city just add this, and then all of a sudden you're responsible for insanely high taxes?

[loves2read]

I would think--but don't know--this refers to inner city upscaling--where the city has spent money or given tax abatements to developers to go into older neighborhoods and gentrify--if you are using La Villeta in SA as example

FTW downtown has code 601--city of ftw publiv improvement district don't know how much it is--but it is not one of the tax rates that allows exemption--so everyone pays whatever they are assessed--handicapped, elderly, no-homestead exemption to allieviate part of the tax to be paid...

Apparently it is ok to give developers 10 year abatements on taxes but not homeowners who actually buy and live in the property to improve the FTW downtown...

[intence]

It's totally nuts, and really scared me, since it wasn't there last here.

If you go to DallasCad and search on any street in the La Villita neighborhood in Las Colinas (just search on LA VILLITA and a bunch will come up) it's totally nuts.

We're not talking about a few extra hundred, it's a few extra thousand, like DOUBLE the existing taxes. This is totally nuts. I can only imagine the horror of buying a home, getting "normal" taxes the first year, and then crazy high taxes the following year.

I'm guessing this isn't going to bode well for resale in that neighborhood if it really is an actual fee the homeowner has to pay.

[loves2read]

I misunderstood--thought you meant La Villita area of SA Riverwalk--which is historical area and has older and newer homes/commercial listings--have no clue where the Las Colinas neighborhood you mean is--but in FTW downtown and in two other areas there are the PID--public improvement districts...
which is like an add-on tax by the city for living in an area undergoing gentrification--don't see why homeowners should pay that when the developers get tax abatement and profits for high price per sq ft...

[daisies76]

I googled it and it stands for Urban Renewal District. It talks about restoring areas of Dallas. If you google it, you can read all about it.

[intence]

So if you're unfortunate enough to live in one of these areas, you're slammed with super-high ridiculous property taxes? As I noted earlier, in the area I checked, it wasn't a few hundred more a year, it was nearly double!

[lpepping]

La Villita is considered an Urbal Renewal District? LOL There was nothing there but a field from what I remember. Its purely brand new development from what I can tell.

[daisies76]

Originally Posted by lpepping

La Villita is considered an Urbal Renewal District? LOL There was nothing there but a field from what I remember. Its purely brand new development from what I can tell.

Id call the property tax office to inquire. The way I read it to be is that it is for renewing and renovating parts of Dallas that need fixed, not necessarily the area you are actually living in... Just areas of Dallas County. Having it add thousands to your taxes doesnt sound right at all, but Im not sure ... I know I would be on the phone right away to find out.

[loves2read]

it is not a general but specific area--someone posted on another chain that there is document you can file if you purchase property in this tax district that would also give homeowner a rebate from payment or a reduction in amount assessed--but it must be filed every year to be maintained--and can be done for like 10 years or so--
I guess best thing to do is call Dallas co and ask for more clear explanation and specific financial amounts...

[numba1hater]

I called the property tax office and the lady said that as long as you fill out an abatement form each year than you are pretty much exempt from the majority of the tax. She said that it will come out to like $100-$300 a year. But you have to fill the form out each year, not like the homestead where it just renews on its own. So it looks like the URD is no big deal unless of course you forget to file the form and then you are on the hook for almost double your tax!!!!

Here's the number if you want to verify for yourself.

972-556-0625