New Home Purchase Price vs. Tax Appraisal Value (Howe: appliances, buyer)

[dd1153]

Originally Posted by houstonfan

It's true for new homes that the first year or two may be completely undervalued bc at time of appraisal, it may have been just a heap of land, no house yet.
As for not reporting value of the house, it's my experience that Big brother knows regardless. This value is on may websites, including Har.com for the realtors to see. There may some other way to get around this, but not answering that questionnaire is not going to accomplish your goals. I believe the title company reports it or maybe even Har.com? I don't know if new constructions are an exception to the rule or not?

HAR and title does not report sales price to HCAD

[TravelFeedsTheSoul]

So from everyone's replies, it seems that most of you experienced a lower initial tax appraisal. I'm hoping this will be the case for us. I hate the thought of paying so much in property taxes. But hey, I guess this is the by-product of no state income tax.

[Kiovo]

Originally Posted by MinecraftMommy

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This is good to know. We are building in Old Katy and the house should be completed in late February. I will be on the lookout for that letter!

We also built in the City of Katy and our home was completed in July. Our tax bills have not even been half of what we were expecting which is always good news when you have to pay less! We already had the money set aside so that will give us a head start for next year's tax when we will get billed for the whole year.

Builders will add all upgrades and premiums to the final purchase price so that could cost your home to be appraised for more then what it's really worth.

[trele6]

We built new in Katy last year, tax appraisal for this year on the full value of the house was $12k less than what we paid.

[houstonfan]

Originally Posted by dd1153

HAR and title does not report sales price to HCAD

Whether they provide it or not, HCAD can easily get that information. Actually, even you and I can get that info for free on several websites, down to the dollar. So if HCAD really wants it, it's not hard to get.

[TravelFeedsTheSoul]

Originally Posted by houstonfan

Whether they provide it or not, HCAD can easily get that information. Actually, even you and I can get that info for free on several websites, down to the dollar. So if HCAD really wants it, it's not hard to get.

Houstonfan, can you please share how or where we can get this info?

Thanks

[TravelFeedsTheSoul]

Bumping this to get more replies. Thanks!

[ipuck]

I know redfin provides that info.

[ToyYot]

homesnap.com

[Bike4Life]

Probably close to the sales transaction cost as it should be. I assume you can write a $14,500 check to Fort Bend County.