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Old 01-05-2009, 09:59 AM
 
1 posts, read 3,457 times
Reputation: 10

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Hi! I currently live in NJ and my hubby and i want to relocate in the future to McKinney. The home prices in McKinney seem incredible compared to here in NJ- the dollar seems to go way further there. And everything I read sounds wonderful, especially for families (we have a young family of 4 children).

First of all- we are getting hammered here on prop. taxes - i believe NJ has the highest property taxes in the US. What are the prop. taxes like in McKinney? We would probably buy a home around 3500sq ft (when we go). We pay 10k + a year on a 3500 sq ft home here in NJ on 2 acres. I think that is nuts. it has gone up more than 2k in the past 4 yrs. It is going to go up again this year.

Another question- do you know if out of state pensions are taxed in TX??

Lastly, in your opions which subdivisions are the nicest in McKinney? I want to get down there this year to check out the area. My brother lives down there and is a very big realtor in that area (ARG) and has invited me down several times to check out the area. I hear Darling homes are outstanding and from what i saw on his website I am SOLD! Do most homes there comeo with basements? I know this sounds silly but the thought of possibly getting hit with tornadoes scares the p*** out of me and not having a basement would be a huge concern.

Oh one more thing- how are the public schools? How do they rate??

Any info would be grately appreciated...I need insiders tips and advice!
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Old 01-05-2009, 10:07 AM
 
Location: The Big D
14,872 posts, read 38,934,415 times
Reputation: 5787
You can't really tell what the property taxes will be on a house by the square footage. Other factors are taken into consideration w/ the first and foremost being the "TAXABLE MARKET VALUE". Then you get the square footage, condition of the house, location (golf course, etc), size of lot, type of construction, pool, amenities, improvements, etc. If you have been looking online at houses the best thing to do is look up that property on the tax rolls and see what they are being assessed in property taxes. You can look up the history for the last several years and can see if it has gone up or down or stayed steady. Pay attention to the value placed on the property for this and it will also indicate if it is an area that is holding value, increasing in value or dropping. You can look up the properties and the tax rates for each taxing entity at Welcome to the Collin Central Appraisal District
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Old 01-05-2009, 12:37 PM
 
Location: WA
5,538 posts, read 22,578,402 times
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NJ has the highest property taxes when measured by per capita or by percentage of income. Texas has the highest property taxes when measured as a percentage of appraised value. Not ducking much on that count.

Texas has no income tax regardless of income source.
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Old 01-05-2009, 12:45 PM
 
308 posts, read 1,145,031 times
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Property taxes are around 2.5% annually in Dallas, probably around the same in McKinney.
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Old 01-05-2009, 01:31 PM
 
Location: Castle Hills
1,133 posts, read 2,419,694 times
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kdar331,
The property taxes are not as much here. Also, the big plus is you would not pay any state income taxes. Take a look at your husbands paychecks... how much is he paying to state income taxes? My wife and I paid 12k last year! That all goes in our pockets now. I'm sure you all would save a lot too. The only question now is... can you sell the house you are living in? The above poster is correct in saying property taxes are around 2.5%... could actually be a little less than that.


1. Houses are waaay cheaper here than NJ.
2. Property taxes are lower here compared with NJ.
3. You pay no state income taxes here.
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Old 01-05-2009, 01:34 PM
 
Location: Dallas/Fort Worth, Texas
4,185 posts, read 14,034,039 times
Reputation: 2644
Tax rate for McKinney is 2.43.

Naima
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Old 01-05-2009, 02:22 PM
 
Location: Inthewoods
113 posts, read 366,697 times
Reputation: 53
I would figure between 4 to 6 grade for taxes. Maybe a little less. I know when we were in Lewisville we paid 4500 for a 3500sq foot home on a corner lot.

Hope that helps,
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Old 01-05-2009, 04:00 PM
 
Location: Frisco
63 posts, read 113,935 times
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Homes with basements are hard to find in Dallas. The soil is mostly clay
and not suitable for building a basement.

Tornadoes are not frequent in Dallas, north Texas area.
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Old 01-05-2009, 07:01 PM
 
6,584 posts, read 23,640,714 times
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McKinney ISD (public schools), I don't know, I hear pros and cons about the district. The district wants to evenly distribute kids so no one school has too many low income kids, so there is always the chance your kids may get bused to a school across town. That's something to watch out for. I have talked to a former parent/teacher there and she said it was not as good a school district as people think it is and they moved into Richardson ISD instead. And, this is probably horrible of me, but I was bothered by the incredible lack of leadership and management of the district during the cheerleader scandal. I know, I know, I shouldn't let that one thing bug me, but it does.

Also, the vast majority of people living in Texas, including me, a Texas native, have never seen a tornado.
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Old 01-05-2009, 11:47 PM
 
Location: Deep in the heart of Texas
1,917 posts, read 6,674,615 times
Reputation: 1971
I have lived in McKinney for the past 10 years and we love it! The schools are good. My kids have grown up here, I have one in high school, one in 5th and one in 1st so all age ranges. Great town for kids. We currently live in Stonebridge in a David Weekly home and we are very pleased with it. I have heard nothing but good things about Darling homes, except the newer additions in Stonebridge have a very TINY back yard. If I were you I would look at the more established neighborhoods in the area. What price range are you looking at? We live in a nice subdivision where the kids can walk to a Blue Ribbon Elementary school. They have never been bused or rezoned, that's why we are staying put so there is no chance they will be rezoned while in elementary. Now middle and high school is another story. But overall we have been pleased with the schools. Very nice people in McKinney. Send me a private message if you want some suggestions as to what neighborhoods to look in according to your price range.
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