Park Cities Prop. Tax (Dallas, Richardson: houses, neighborhood, school districts)

[robertcut]

We have been looking at houses in the park cities and noticed that the tax rates listed on dallascad are no higher than what we pay in the Richardson ISD (city of Dallas), yet I've heard that taxes in that area are higher. Am I missing something? Other than property values being higher, thereby causing taxes to be higher it seems as though the rates are identical or lower than other school districts. Any thoughts/help/information is appreciated.

Thanks

[ETex2]

You answered your own question. Property taxes are higher because property values (and assessed values) are higher. If the tax rates are the same, that can be the only reason.

[TurtleCreek80]

Originally Posted by robertcut

We have been looking at houses in the park cities and noticed that the tax rates listed on dallascad are no higher than what we pay in the Richardson ISD (city of Dallas), yet I've heard that taxes in that area are higher. Am I missing something? Other than property values being higher, thereby causing taxes to be higher it seems as though the rates are identical or lower than other school districts. Any thoughts/help/information is appreciated.

Thanks

Tax rates are actually among the lowest in DFW because all components (Dallas county, town of HP/UP, and HPISD) carry a 20% homestead exemption. The size of the actual tax bill is another thing considering median values are just over/under $1M.

[robertcut]

Thanks for the replies. Given that some properties in our neighborhood are $600K and higher, it just seemed as though something was missing if taxes on a similar home in UP are lower than what we pay in our area.

[Rakin]

Originally Posted by robertcut

Thanks for the replies. Given that some properties in our neighborhood are $600K and higher, it just seemed as though something was missing if taxes on a similar home in UP are lower than what we pay in our area.

You can go to the Dallas County Appraisal district website and look at your neighbors taxes. You might see something that helps reduce your taxes.

[GreyDay]

Originally Posted by robertcut

We have been looking at houses in the park cities and noticed that the tax rates listed on dallascad are no higher than what we pay in the Richardson ISD (city of Dallas), yet I've heard that taxes in that area are higher. Am I missing something? Other than property values being higher, thereby causing taxes to be higher it seems as though the rates are identical or lower than other school districts. Any thoughts/help/information is appreciated.

Thanks

It's deader than say, pre-80's party rap, but Park Cities property taxes are some of the lowest in DFW. However the homes are some of the most expensive so you generally hear numbers like 17-20k for a million dollar home. But if you found that mythical $500,000 starter home you'd be paying much less in taxes for that than the same home in Dallas proper.

Look up DCAD, you can see what EVERYONE is paying in taxes- or pull up the almanac and you can go down entire blocks. Love the anonymity of the internet.