Proptert Tax Cut (Houston, Dallas, San Antonio: insurance, new home, transfer)

[momof2dfw]

Okay, since this keeps coming up w/ people asking when this is going to take effect. How many of you that already live in Texas really believe that your property taxes are going to go down? Or do you believe this is just another smoke & mirrors game to try to make us feel good? Like the $2000 a year raise that the state gave the teachers this year. It's only good for one year then if the districts want to keep the teachers salary at that they must cough up the money for it.

Will we really see a drop in our property tax bill this year?


Me, I'm not holding my breath.

[Trainwreck20]

Tax cut?!? ROFL! Yeah, right :-) That is just talking to make the politcos sound like they are doing something. The money has to come from somewhere...I know we are running an 'excess', but that never last more than a year.....

[AlamoGirl]

My property taxes just went up by about 20% this last year from about 750.00 for a year to almost a 1000.00 and my property isn't worth that much.
i wish they would play around and lower it alittle here in the RGV

[Just Lookin]

See, thats what scares me. They can up your taxes whenever they want. I think it depends on what side of the bed they wake up on.

We pay a 1% on the selling price here in Calif. I haven't seen our taxes rise in the 7 years we been here.

So, raising them every year is unheard of. They should find another way of getting money.

I am pretty sure I will love Texas but that is one thing that really scares me more than snakes.

[Trainwreck20]

There are limits being imposed in some places now (Houston, specifically) and requirements to roll some back. It does not keep taxes from going up, but it limits them somewhat. After a certain age (depends on county) your taxed freeze at a certain dollar amount. Also, there is usually a cap on appraised value increase for homestead property.

Not that taxes do not go up, it is not completely willy-nilly. Usually, they get you through the appraised value angle, not the tax rate direction.

AlamoGirl - That is a 33% increase! Is it a homestead exempted property? Most have a 10% per year cap on increases in appraised value...did they really up the tax rate that much?

[Steel Man]

I live in the Northside ISD in San Antonio and about every 4 years the district floats a large bond issue to build more schools due to population increases. The last one was more than $400 million and now we are paying .275 cents per $100 valuation, so I am paying an additional $300 a year for incurred debt. As it stands, we are at $1.775 per $100. I should save about $540 a year when the tax cut is completely phased in by 2008. Of course, in the last two years my property value has gone up about $11,000. At this rate, my savings will be cut to $400 which will be further eroded because NISD is talking about another big bond issue before 2008. Thank God NSISD gives a $15,000 home value deduction for homestead exemptions. I wonder, if they will do away with the HS deduction when the tax rate goes down by .50 per $100 valuation? If that happens, then all savings are gone.

[momof2dfw]

I don't see any taxing district doing away w/ the homestead exemption. All holy you know what would break out. Just a few years ago there was a push to have the taxable value of a home owned by senior citizen frozen. That has fallen by the wayside as the cities that did so have seen a drastic reduction in revenue coming in from property taxes.

Just looking at the DCAD history for the last 6 years for my own property I can see where my taxable "market value" went down but my actual tax rate went up. If the tax rate goes down but the market value is going up they are just going to offset each other.

[texasdreamin]

But...isn't it true that when a person hits 65 that the property taxes do not go up anymore? That's a little hope. I guess the trick is to purchase or build the house as close to age 65, as possible. You'd get that one appraisal and then it would remain at that amount. Is that correct or am I misunderstanding something?

[momof2dfw]

Here is what it said on that on the Dallas County A.D. site:

Over-65 Homestead Exemption

You may qualify for this exemption on the date you become age 65. You must submit proof of age. Acceptable proof includes a copy of the front side of your driver's license or a copy of your birth certificate. If you qualify for the Over-65 Exemption, there is a property tax “ceiling” that automatically limits School taxes to the amount you paid in the year that you qualified for the homestead and Over-65 exemption. A County, City or Junior College may also limit taxes for the Over-65 Exemption if they adopt a tax ceiling. Tax ceiling amounts can increase if you add improvements to your home (i.e. adding a garage, room or pool).

In addition, Over-65 homeowners who purchase or move into a different home in Texas may also transfer the percentage of school taxes paid, based on the former home’s school tax ceiling. This is commonly referred to as a Ceiling Transfer. To transfer your tax ceiling for the purposes of County, City or Junior College District taxes, however, you must move to another home within the same taxing unit. You must request a certificate from the Appraisal District for the former home and take it to the Appraisal District for the new home, if it is in a different district.

[momof2dfw]

Disability Homestead Exemption

Persons with disabilities may qualify for this exemption if they 1) qualify for disability benefits under the federal Old Age, Survivors and Disability Insurance Program administered by the Social Security Administration or 2) have a physicians statement indicating the date the disability began and that you are unable to engage in any substantial gainful work for a period which has lasted or can be expected to last for a continuous period of not less than 12 months or that can be expected to result in death.

If you qualify for the Disability Exemption, there is a property tax “ceiling” that automatically limits School taxes to the amount you paid in the year that you qualified for the homestead and Disability exemption. A County, City or Junior College may also limit taxes for the Disability Exemption if they adopt a tax ceiling. Tax ceiling amounts can increase if you add improvements to your home (i.e. adding a garage, room or pool).

in addition, Disabled homeowners who purchase or move into a different home in Texas may also transfer the percentage of School taxes paid, based on the former home’s school tax ceiling. This is commonly referred to as a Ceiling Transfer. To transfer your tax ceiling for the purposes of County, City or Junior College District taxes, however, you must move to another home within the same taxing unit. You must request a certificate from the Appraisal District for the former home and take it to the appraisal district for the new home, if it is in a different district.

You may not receive both this exemption and the Over-65 exemption.

Surviving Spouse of a Person who Received the Disability Exemption

There may be additional benefits for the Over-55 Surviving Spouse of a person who was receiving the Disabled Person exemption before their death. You may contact the Customer Service department for additional information at 214-631-0910.