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Old 02-21-2013, 09:58 AM
 
Location: Houston
152 posts, read 457,985 times
Reputation: 175

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houstonfan: I think you are right. I just did the calculation, taking the Ft bend Co and FBISD deductions on the appropriate line items and totaling the amount, and unless I did the calculations incorrectly (very possible as numbers aren't my strength), it looks like I'd be saving only about $400 on the sample home I used.

Ugh. Guess we'll be extending our search to other (older) neighborhoods. Thanks all for your comments!
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Old 02-21-2013, 11:01 AM
 
467 posts, read 1,185,703 times
Reputation: 300
I live in Aliana...I calculated my savings with homestead exemption for 2012, and it was about $470 of savings.
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Old 02-21-2013, 11:54 AM
 
Location: Houston
152 posts, read 457,985 times
Reputation: 175
Aliana926: Thanks so much for your info! That pretty much confirms that the scenarios I calculated were indeed correct. I looked at homes ranging from 200K to 280K and my savings with the exemptions came out to be between $400-$500. Not quite enough for the specific home(s) we were interested in.

The good news is that through this exercise, I now understand how to calculate the estimated taxes for any other home I may be interested in going forward, lol.
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Old 02-21-2013, 05:54 PM
 
467 posts, read 1,185,703 times
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Good luck in your search. It's the MUD tax that is the killer! I hope it that would go away one day.
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Old 02-21-2013, 06:23 PM
 
Location: The land of sugar... previously Houston and Austin
5,429 posts, read 14,839,547 times
Reputation: 3672
Quote:
Originally Posted by longhorn96 View Post
houstonfan: I think you are right. I just did the calculation, taking the Ft bend Co and FBISD deductions on the appropriate line items and totaling the amount, and unless I did the calculations incorrectly (very possible as numbers aren't my strength), it looks like I'd be saving only about $400 on the sample home I used.

Ugh. Guess we'll be extending our search to other (older) neighborhoods. Thanks all for your comments!
Take a look in Old Orchard and Orchard Lakes then... they're nearby but are newer subdivisions in an older MUD with a lower tax rate. And even better located to Sugar Land. No awesome clubhouse and pool like Aliana though, just standard amenities for the smaller subdivisions that they are. Homes in Orchard Lakes are probably around a decade old and many in Old Orchard are less than 5 years old.


Quote:
Originally Posted by Aliana926 View Post
Good luck in your search. It's the MUD tax that is the killer! I hope it that would go away one day.
It will. It just differs by community. It does take many years though.
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Old 02-21-2013, 07:22 PM
 
4,246 posts, read 12,023,750 times
Reputation: 3150
Mine is 15 yrs. YEAH!!!!!!!!!!
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Old 02-21-2013, 07:47 PM
 
Location: Houston, TX
2,052 posts, read 5,871,270 times
Reputation: 1298
It sure stinks that you guys don't get that great of a homestead exemption. They must think if you can afford it out there, you have extra money to spend in taxes. I guess I'm lucky even at our 2.99% rate with our $1,100 savings; $1,500 when I consider what taxes could be on the actual value of our house.

One thing to remember when you buy a house, if you get a nice letter from the appraisal district asking about how much you paid and details about your house, THROW IT IN THE TRASH! I did not reply and that is one reason my appraisal value is less than the actual value. They carried my house at the base house cost plus the lot & 3 car garage premium (since that's all they could see) for several years since they have no idea what other upgrades I paid for. It took them about 8 years before the appraisal value exceeded what I actually paid. Saved me thousands in taxes over those years.

Good luck on your search!
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