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Old 01-14-2009, 09:04 PM
 
354 posts, read 2,216,424 times
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I am trying to determine how much the property taxes will be on a new home I am considering having built. $173,990 at a 3.45% tax rate (before homestead). I can't find any online property tax calculators. Anyone know of any sites that can help????
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Old 01-14-2009, 09:07 PM
 
Location: Pittsburgh N. Hills / Houston-Clear Lake
8,156 posts, read 26,420,381 times
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As an estimate, take 90% of the value and multiply by 3.45%.

With that, I'm calculating $5,402.39 per year. Bound to go up every year as well.
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Old 01-14-2009, 09:09 PM
 
Location: Cottage Grove
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The way that I do it, is go to my tax assessors website (HCAD.org in Harris County) and look for other properties that have the same characteristics as mine. Then I look up their taxes. It is quite an endeavor to do this analysis and comparison (translate = "time"), but it's pretty accurate.
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Old 01-14-2009, 09:10 PM
 
354 posts, read 2,216,424 times
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Quote:
Originally Posted by tstone View Post
As an estimate, take 90% of the value and multiply by 3.45%.

With that, I'm calculating $5,402.39 per year. Bound to go up every year as well.
Thanks for your speedy reply!!! Any idea of how to calculate after homestead?
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Old 01-14-2009, 09:50 PM
 
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Quote:
Originally Posted by rubynicholson77056 View Post
Thanks for your speedy reply!!! Any idea of how to calculate after homestead?
It's not too complicated. Homestead only gives you discount on some of the taxes. For most people it's only the school tax.
So for a basic example, let's say your taxes are 3% and 1% of that is your school tax. And your house is $150k. The state governed exemption for schools is $15k ($25k if you're over 65).

So your taxes would look like this:
taxes = (house value minus exemption) times (school tax rate) + (house value) times (difference between overall tax rate and school tax rate)
taxes = ($150k-15k) x (.01) + ($150k) x (.02)
taxes = $1,350 + $3000
taxes = $4,350

So without the exemption you would have paid $4500. You saved $150 with it.
I hope my math was right.
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Old 01-14-2009, 10:40 PM
 
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This year its bonus x .35
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Old 01-15-2009, 06:20 AM
 
Location: Pittsburgh N. Hills / Houston-Clear Lake
8,156 posts, read 26,420,381 times
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Quote:
Originally Posted by rubynicholson77056 View Post
Thanks for your speedy reply!!! Any idea of how to calculate after homestead?

That was after homestead. I took 90% of the value. Without homestead, it would be 100% of the value X 3.45%.

Yonkers did the same calc above.

The HCAD website doesn't always include all the taxes. My taxing area is split (Houston/Galveston), so the HCAD site doesn't tell the whole story.
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Old 01-15-2009, 07:53 AM
 
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Keep in mind that you have to live in the home on January 1st of that year to apply for Homestead. So, if you closed on a house in 2009, you'd apply for the exception after January 1, 2010 and you wouldn't get it until you got your 2010 tax bill in November of 2010.
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Old 01-15-2009, 09:00 AM
 
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Quote:
Originally Posted by AlexTx View Post
Keep in mind that you have to live in the home on January 1st of that year to apply for Homestead. So, if you closed on a house in 2009, you'd apply for the exception after January 1, 2010 and you wouldn't get it until you got your 2010 tax bill in November of 2010.
Yea I took that into account. I was just wondering what I would be expecting in the future...which is not too big of a difference!!
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Old 01-15-2009, 11:45 AM
 
Location: Houston
14 posts, read 39,669 times
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Also keep in mind that if your subdivision is not compete, your property taxes will be substantially lower until 50% is complete.
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