When I look at home prices in Texas, they are so low. Is it because of... (Houston: foreclosures)

[bls5555]

taxes being so high? I was reading a post about Ingleside Texas and it stated that Property taxes are 3% plus add another 1% or so.

So on a $100,000 house you are paying an extra 4,000 a year on what I consider junk.

$400 a month or so adds quite a bit to a mortgage payment and knocks quite a few people out of the housing market.

Is what I read correct and if so, why are property taxes so high? I realize there is no state income tax. So they make up for that with higher property and sales?

Thanks for the input. Im looking at moving, so I wanted to gather some info.

[Mark-Tyler is Special]

Well, in Tyler Texas we have the lowest City property tax in Texas of any city over 15,000 population it is .20 per hundred dollars valuation. So for City taxes $200 per year. Now the county,school taxes are low to average. But total taxes on 100,000 would not be more than 1800-2000 so double for 200,000 and you can get a very nice home for 150,000 to 200,000.

I'll attach a response I gave earlier on Tyler.


Depends where you a moving from as to what you expect/need for the school salary to be. Also, what it cost to live where you are from, it could be a lot less than Tyler.
Tyler is more than 3 times the size of Nacogdoches so maybe, a better chance for a job for you. No doubt, a much better chance for a job for your husband.

As far as cities, go Nac. is more laid back and Historic Place a nice small/old downtown area, a college town, really deep in the Piney Woods. I like it.

Tyler,is on the edge of the Piney Woods with many more huge Oak trees, gently rolling hills, with pasture areas a well. is historic Azalea District too very modern 14 story high rise condo - major shopping, very expensive to not so expensive areas to live in, yes we do have our older "not so kept up" areas, yes some drawbacks here. One is not the property tax rate , it's the lowest in the state of any city over 30,000 population rate is .20 per $100 dollar evaluation.

Tyler has the Univesity of Texas at Tyler with the on campus Cowan Performing Arts Center with major plays that stop in Dallas also coming here, Season packages and special events. The East Texas Symphony is here that compares fairly favorabaly with the Houston Symphony, I lived in Houston 20 years. Has a really nice zoo.

Tyler is medical center of East Texas with the only Level One Truama Center in the area. Many specialist here. And finally, many people find Tyler beautiful with the Azaleas,Dogwoods.Tulips and the largest Municipal Rose Garden the nation. Come take a look, of course it would be much nicer in the Spring or thereafter, it does look like winter with only the Pine trees green, we have four seasons with a mild winter.

Many people live just outside Tylerand in Whitehouse,Bullard, Lindale.

If you have anyother questions. I'll try to answer them or refer you to someone.

Good luck on your decision.

[tstone]

The 3% rate is what you would find on the fringe of the city limits of Houston. It's about 2.7% inside, and up to 3.7% in the outer-most exurbs.

The adding 1% per year would be about what your homeowner insurance would cost here.

[FalconheadWest]

Dallas and surrounding suburbs average taxes are about 2.2-2.5%. There are a couple of places higher, but not many lower. This would include city, county, school, medical, college, and any other municipalities. Where I am in Richardson, Collin County (not Dallas county as Dallas is higher) our taxes, with homestead exemption, are approx 2.3%

Austin areas have about the same taxes, maybe slightly higher. Where I am in Bee Cave, we have the lowest in the area at 1.9 (without homestead exemption), but just up the street, it's 2.67.

Then, you can claim an over 65 exemption, handicap exemption, agricultural exemption, and many others to get your taxes even lower.

As for your main question about home prices, it's mainly because we like to stay in check with the income prices. If people aren't making enough income to pay mortgages, houses can't be sold. If prices are in-line with salaries, things move along at a nice pace and you don't have to be at a 50+% debt to income ratio to qualify for a house like in CA or NY and other places.

[texdav]

Most of teh property taxes include all taxes except for ales taxes. theier is no state income taxes.From all site i have read comparing taxes texas has one of the lowest overall when you look at all taxes and fees.With governamnt they either get you in one tax or another or fees. In many you also have to remember that thier are exemtions such as homestead and even over 65 which reduce the taxable amount.

[bluescreen73]

Texas house prices are undervalued in comparison to the rest of the country because this area experienced a housing bubble in the 1980s.

When oil prices plummeted and the bottom fell out of the Texas economy in the mid-late 80s, house prices went with them. It's a big reason why housing prices here have been MUCH more stable than most of the rest of the country.

[killer2021]

Originally Posted by bluescreen73

Texas house prices are undervalued in comparison to the rest of the country because this area experienced a housing bubble in the 1980s.

When oil prices plummeted and the bottom fell out of the Texas economy in the mid-late 80s, house prices went with them. It's a big reason why housing prices here have been MUCH more stable than most of the rest of the country.

Yea not to mention the high property taxes kept the foreclosures in Texas high for the last 10 years. When every other city was going up 20% per annum texas only went up a couple percent.