Are they using market price to calculate property taxes in KATY, TX ?
Hello,
Yesterday, we've decided to move to KATY, TX. And then today I found the property tax rates are very HIGH and another tax which is called MUD... Are they using market prices to calculate property taxes in KATY, TX ? Thanks
Thu Mar 13 2008, 22:11 - Katy - Home Buying - 1 answer
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Generally they are not using property values in the tax records. The property values tend to run very low in the tax records because people dispute the values to lower their taxes. Tax assessments are a tightrope for the collectors between appraising a high enough value to get as much in tax dollars as the can versus not assessing to high so that people protest the values (which gets expensive to give every tax payer that wants to dispute their value a forum for doing so). MUD taxes are part of the whole in Katy tax rates...it covers bonds and utilities.
Don't forget, after the first January 1st that you are in the home, you will qualify for a homestead exemption on your primary residence which will reduce your overall tax burden by about 20%. Good Luck! Tue Apr 1 2008, 09:19 Web Reference: http://www.katyagent.com
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