Do you understand Texas property taxes? (survey) (Houston, San Antonio: house, new construction)

[Dopo]

Do you understand Texas property taxes?

I was just reading about Texas property taxes and read this article
The value of your Travis County home has gone up a lot. That doesn’t mean your property taxes will.

People who own property in the Austin area recently received new valuations from the local appraisal district. This number, known as your appraised value, estimates what your property would currently sell for in Austin’s record-breaking housing market.
The appraisals are a lot higher than they were last year. According to the Travis Central Appraisal District, on average, appraised values rose 56% over the past year.
But if you live in the house you own, and have filed what is called a homestead exemption, the amount you have to pay taxes on is entirely different. This is called your “taxable value,” and it is probably much lower than the estimate of what your home would sell for — unless you bought your house in the past year. Then those numbers are likely the same.
Still confused and in shock? We got you.
The appraised value of my home went up more than 50% in the last year. Does that mean my taxes will go up that amount?
Almost certainly no.


At that point I started to think "Maybe I'm not the only one confused by Texas property taxes"
so I thought I would start a survey about it.

Feel free to share information if you actually understand it

[ChristieP]

Your taxes WILL go up due to the increased appraised value (less the homestead and any other exemptions) of your home. There is a state law that says that your property tax bill may only increase by 10% annually, so it will take several years for the taxes to fully reflect the new appraised value, but they will eventually get there. Unfortunately, that means that yes, some Texans will no longer be able to afford their property tax bills, and they will be forced to sell, AKA "being taxed out of my home."

The solution to this would be for taxing entities, such as County Commissioners, county hospitals, school districts, and community colleges to reduce their tax RATE to reflect the increased appraised value of the properties from which they receive taxes. Unfortunately, this is highly unlikely without pressure from local taxpayers, or from legislative action from the Texas Legislature.

[Dopo]

Originally Posted by ChristieP

Your taxes WILL go up due to the increased appraised value (less the homestead and any other exemptions) of your home.

Based on the Ft. Bend page, the appraised value is the market value minus homestead and other exemptions


https://www.fbcad.org/ufaqs/what-is-...ead-cap-value/

What is the Difference Between the Market Value and the Appraised Value (Homestead Cap Value)?
When you receive your Notice of Appraised Value, you may notice two different values printed on it. Having multiple and different values on the notice can be confusing, especially with regards to the Homestead Exemption and the “homestead cap.”

Market Value
Per the Texas Property Tax Code, all taxable property must be valued at 100 percent of market value as of January 1 each year. This value is shown on your notice as “Market Value.” Because it is based on recent sales, the Market Value may change upwards or downwards any amount depending on recent market trends and is not limited to increases of 10 percent or more. It may change as much as the current market changes.

Appraised Value (“Homestead Cap Value”)
Per the Texas Property Tax Code, an exemption for taxation is available to an individual’s primary residence. One of the features of the exemption is a limit to the amount that the value for taxation can increase from one year to the next. This limit is frequently referred to as the “homestead cap.” The “capped” value is shown as the “Appraised Value”. The appraised value is limited by the Homestead Exemption and may not go up more than 10 percent in one year in most cases as long as the exemption was in place for the prior year for the current owner (There’s an exception for new construction). This number is calculated using the previous year’s Appraised Value and a “cap” of 10 percent.”

[ChristieP]

Originally Posted by Dopo

Based on the Ft. Bend page, the appraised value is the market value minus homestead and other exemptions

Right. That's what I said.

[NewMexicoCowboy]

I found out recently that parsonages are property tax free in Texas if they are in the name of a religious institution and not the preacher or evangelist or minister.I got told that by an accountant.But in order to qualify it has to be in a 501c3 non-profit's name.

[StealthRabbit]

Originally Posted by NewMexicoCowboy

I found out recently that parsonages are property tax free in Texas if they are in the name of a religious institution and not the preacher or evangelist or minister.I got told that by an accountant.But in order to qualify it has to be in a 501c3 non-profit's name.

and... there are probably more preachers in Texas than Judges (that seems impossible, but is likely). I know many who are both

So... get ordained and join up with a 501(c) 3 (Certain rules will apply)

Understanding property taxes in Texas needs to include your blood thirsty (with no budget) and excellent (with no testing) ISB
Wonderful, Wonderful (send the checks!)

[Dopo]

This is why I'm never going to give any money to churches in Texas, at least the ones that are clearly rich.

Some Texas religious leaders live in luxurious homes– tax-free

A 10-bedroom, 10-bath mansion in Houston. An 8,000 square foot home in San Antonio. An elegant house on more than an acre of land overlooking Corpus Christi Bay. These places have two things in common: religious leaders are living there, and those clergy members pay nothing in taxes. They’re able to avoid paying taxes under a law that allows them to declare these homes as parsonages. A Houston Chronicle investigation found nearly 3,000 parsonages in Texas, worth at total of $1 billion, avoiding $16 million in taxes to local governments.

[BillyH]

Originally Posted by ChristieP

Your taxes WILL go up due to the increased appraised value (less the homestead and any other exemptions) of your home. There is a state law that says that your property tax bill may only increase by 10% annually, so it will take several years for the taxes to fully reflect the new appraised value, but they will eventually get there. Unfortunately, that means that yes, some Texans will no longer be able to afford their property tax bills, and they will be forced to sell, AKA "being taxed out of my home."

The solution to this would be for taxing entities, such as County Commissioners, county hospitals, school districts, and community colleges to reduce their tax RATE to reflect the increased appraised value of the properties from which they receive taxes. Unfortunately, this is highly unlikely without pressure from local taxpayers, or from legislative action from the Texas Legislature.

Very succinct and I fight/protest my appraisal every year to keep taxes down.

[done working]

Heck i am 68 and protest every year too and usually get a few bucks saved. Before the school tax was frozen i got 2 reductions 15k and 18k. Its worth a few minutes.

[BillyH]

Originally Posted by done working

Heck i am 68 and protest every year too and usually get a few bucks saved. Before the school tax was frozen i got 2 reductions 15k and 18k. Its worth a few minutes.

I agree it's worth the effort, I have always has it reduced.