What's up with property taxes in TX? (good schools, to live)

[C24L]

property taxes are high here in Texas because we have no state income tax.

[dastexan]

Originally Posted by StealthRabbit

$20k / yr taxes in TX, so paying my fair share. (with ZERO representation)

Please enjoy the contribution

16m eligible voters in TX (with one of the worst turnout rates in USA,) other states need my support, Texas has plenty

I will just continue to contribute monetarily and NOT burden your 'poor' state (Homeschooler).

Have to laugh about all the "MY PLACE, KEEP OUT!" in Texas (privacy gates...) local jurisdictions must provide Great Security, and Texans must be GREAT neighbors! and very kind to not steal from each other.

Public lands? Definitely the state is saving a bundle on NOT having to manage / protect much 'public space' Most states I reside have ~ 50% public lands. Texas 4% Whoopee!

What's up with property taxes in TX?

Not much

4% FEDERAL LANDS.

Its a little higher if you include state owned lands.

[KathrynAragon]

Originally Posted by Tall Traveler

Do you have a link for that? I think everyone should do their own research and reach your own conclusions, that's what I do. I've looked at houses in different areas of Texas including San Antonio and matched as close as possible to my house in Washington state and after factoring property taxes and insurance, it would be far more expensive for me to live in Texas when it comes to housing costs and after factoring our super low utilities, there is just no economic case for us to move back to Texas.

I get what you're saying. My husband is nearing retirement but still has several more years of high earning most likely. We can find other states with lower property taxes but due mostly to income taxes (and/or state and local sales taxes and that sort of tax burden) in every state we've seriously considered, we would be losing money to move out of Texas. But that will most likely change when he retires, because then the "no state income tax" thing won't be an issue, but the higher property taxes will be.

Texas is a state to come to and make a lot of money for as many years as possible. It's not the best state (nor the worst, about middle of the pack) for retirement.

Every person's situation is different. So do your research.

[Tall Traveler]

Originally Posted by rynetwo

Sorry. Thought I included it.

https://opportunitywa.org/tax-founda...ater-april-20/

That is a very useless link in my opinion because it assumes every state has the same income and then concludes that the states with the highest income will take longer to pay their state and federal taxes without consideration of the incomes...meaningless.

Figure your tax burden based on your own situation, I don't care how others are affected, that's their business. As I mentioned before, there is no economic case for me to go from where I live in Washington state back to Texas based on what it would cost me for similar housing and overall taxes....I've already looked at it pretty thoroughly.

[Tall Traveler]

Originally Posted by KathrynAragon

I get what you're saying. My husband is nearing retirement but still has several more years of high earning most likely. We can find other states with lower property taxes but due mostly to income taxes (and/or state and local sales taxes and that sort of tax burden) in every state we've seriously considered, we would be losing money to move out of Texas. But that will most likely change when he retires, because then the "no state income tax" thing won't be an issue, but the higher property taxes will be.

Texas is a state to come to and make a lot of money for as many years as possible. It's not the best state (nor the worst, about middle of the pack) for retirement.

Every person's situation is different. So do your research.

Yep, we also have no state income tax in Washington and lower property taxes, much lower insurance and utilities. (I'm not in Seattle so housing where I live is reasonable). Wife and I love Texas but it's become pretty expensive in the best areas.

[CLR210]

Originally Posted by ged_782

As for retirees, homeowners in Texas are eligible for an "Over-65" exemption on their principal residence the year they turn 65 years old. Many counties, cities, and school districts grant this exemption, which gives a significantly higher exemption than just the under-65 Homestead Exemption, and also freezes taxes at that dollar amount.


So what typically happens when the homeowner turns 65, is their property tax drops, then most entities freeze at that level. As the homeowners age, the annual tax savings can become substantial over the years.

The tax rates freeze once you’re 65 but if they increase the value of your property on your annual appraisal, you are taxed on the new value.

[yukon]

https://www.poconnor.com/blog/over-6...-tax-exemption

School property taxes will never increase after obtaining an over-65 exemption, unless the property is renovated or the owner moves to a more valuable home. Renovations include upgrading a kitchen or bathroom, but replacing expensive items, such as a roof or an HVAC unit, are not renovations and will not increase property taxes.

[ged_782]

Originally Posted by CLR210

The tax rates freeze once you’re 65 but if they increase the value of your property on your annual appraisal, you are taxed on the new value.

No, that is not correct. Annual appraisal increases do not impact frozen annual tax dollar amounts.


What will cause an increase in frozen taxes to a home with an Over-65 Exemption, would be new improvements, like a new swimming pool or room addition, for example. The new improvement value gets added in, then the taxes are re-frozen. The over-65 homeowner could do a remodeling project with upgraded materials, like maybe new granite countertops to replace laminate, or hardwood floors to replace carpet, but that kind of stuff doesn't count against the freeze. You are just replacing something that was already there with better quality.

[davisitode23]

San Antonio property taxes by city, school district, county, etc.

https://www.hdavidballinger.com/san-...operty-tax.php

Top of the list:
Spring Branch 1.87%
Bulverde 1.89%
Poth 1.96%
Garden Ridge 2.07%

Pretty sure all of these places have good to great school districts, but home prices tend to be high. At least more of it is going to principal.

[davisitode23]

Originally Posted by Tall Traveler

Yep, we also have no state income tax in Washington and lower property taxes, much lower insurance and utilities. (I'm not in Seattle so housing where I live is reasonable). Wife and I love Texas but it's become pretty expensive in the best areas.

True. I live in WA. This might be that WA is always raising other types of taxes specifically for education, though. I think businesses get hosed, and stuff like fast food. Tabs for roads cost a lot and gas is highly taxed. Also, the state puts effort into artificially inflating the costs of housing (don't get me started...).



But the thing about property taxes is that it is particularly onerous for people who want to live frugally and live in a good area. It is not enough to save up a big down payment because no matter what, your fixed monthly costs are high if you try to move to a place with good schools. It is a terribly regressive scheme.