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Old 12-31-2007, 07:42 AM
 
45 posts, read 186,795 times
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We were looking at a house that is on a corner. I was talking to my mother-in-law about it, and she said we need to be careful because you pay more property taxes on a corner lot because your house is technically on two streets. I have never heard this before. Can anyone educate me on this topic? Thank you!!
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Old 12-31-2007, 07:53 AM
 
Location: Dallas, Texas
3,589 posts, read 4,145,884 times
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Quote:
Originally Posted by trifan76 View Post
We were looking at a house that is on a corner. I was talking to my mother-in-law about it, and she said we need to be careful because you pay more property taxes on a corner lot because your house is technically on two streets. I have never heard this before. Can anyone educate me on this topic? Thank you!!
My parents' house is on a corner and their property tax bill isn't any higher than anyone else's on the street with a comparable property.
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Old 12-31-2007, 09:03 AM
 
Location: Lake Highlands (Dallas)
2,394 posts, read 8,593,636 times
Reputation: 1040
You pay taxes based on the taxable value of the home. Taxable value should be somewhat representative of the market value. If a corner lot is larger (as is in most new areas), the land value may be higher - so your tax basis may be a little higher, but if you're butting up to a busy street, the land may be worth less.

Hope this helps a little...
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Old 12-31-2007, 09:10 AM
 
45 posts, read 186,795 times
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Thank you both! It does help.
Have a happy new year!!
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