Property taxes Dallas vs Denton county (Irving, Carrollton: sale, 2009, renting)

[bookworm2768]

As we get ready to make our home purchase (We've been renting 2 months in Dallas now) I'm totally confused by the tax thing. People have told us often to watch out for the taxes since they can be so much higher in Dallas county than in Denton but when I look around online I'm not sure what the difference is. The area's I'm considering purchasing in are in North East Irving and North West Carrollton. Is there really going to be a huge differences in taxes just by county? Or are there other factors that I'm unaware of? Or perhaps other taxes?? Thanks

[lh_newbie]

All-in-all, taxes from one county to the next isn't going to be a huge difference. Basically, be aware that property taxes in general are between 2.5 and 2.8% of your sale price on a yearly basis. What you'll find is cheaper in Denton county is vehicle insurance.

[lpepping]

Don't forget to apply for your Homestead Exemption!

[bookworm2768]

Thanks. So it isn't as if the taxes make such a huge difference that one should avoid buying in a certain area?? I suppose I was expecting some areas to have red flags for taxes.
Thanks for the tip on homestead exemptions.

[nsumner]

Hello Bookworm2768

Here is a breakdown on how the taxes are distributed in Carrollton:

City 0.632875
Sch.CAR/FB 1.683000
Sch.Lewis 1.640000
Dallas Co 0.553934
Denton Co 0.231920

Total tax rate if you buy a house in Dallas Co 2.869809

Total tax rate if you buy a house in Denton Co 2.504795

Remember that you can only get a benefit of the homestead exemption if you own the house as of January 1st. So for example, if you buy a house and close January 30, you will pay the full tax for the whole year but you can apply for it in January 2009 and the taxes for 2009 will have the discounted exemption which is usually a few hundred dollars.

The only exception is if you buy a house that already has a homestead and the sellers don't apply for one at their new residence, then you will benefit from their exemption that first year.

Sorry, I don't mean to ramble or confuse you...