Home Buying in Katy>Question Details

Hank Laurie, Both Buyer and Seller in Louisiana

In doing my research it appears that property taxes are high in Katy. What would I expect to pay on a home built in 2001 that is listed at 225000.?

Asked by Hank Laurie, Louisiana Tue Feb 15, 2011

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You can view the tax information on the Fort Bend County Appraisal District. The tax rates might see mhigher due to the MUD taxes levied in a lot of the areas. If you are moving from out of state, please realize while property taxes might be higher in Texas, there is no state income tax. Any Houston Realtor, or Katy Realtor will be able to look up tax information on a selected property. Please make sure when you are reading the information that you look at any exemptions the current owner might have that will make the tax bill lower.
Web Reference: http://www.ourfirstnest.com
1 vote Thank Flag Link Tue Feb 15, 2011
Hank,
Property Taxes are based on the tax value, not the listing/selling price. You could purchase a home for $225k that has a tax value of $180k. It also depends on what exemptions are already on the home and what exemptions you qualify for. Not to mention, Katy is in two counties, Harris and Fort Bend. These two counties have different rates. The other taxing athorities rates are different in every area, including the possiblity that the MUD bonds have been paid off and are no longer being collected. It would be better if you looked up each particular home on the appropriate tax appraisal web site. http://www.hcad.org is the Harris County Tax Appraisal districts website, however, they have links to all of the other surrounding counties websites as well. Good luck and give me a call 713-623-5195 or email me @ chempel@securemortgagecompany.com if I can be of any further assistance with your mortgage loan.
Thanks,
Christy Hempel
Sr Loan Officer
1 vote Thank Flag Link Tue Feb 15, 2011
It all depends on the area you live in. Different subdivisions have different tax rates. If you have a aprticular home you are looking at you can submit an address to me and Ill look it up for you.
Web Reference: http://www.katy-homes.net
0 votes Thank Flag Link Wed May 11, 2011
Hi there, All of my estimates are approximate.

$225,000 Sales Price
3.5%
$7875/ year (without Homestead Exemption*)
$6300/ year (with)

$225,000 Sales Price
3.0%
$6750/year (without Homestead Exemption*)
$5400/year (with)

$225,000 Sales Price
2.5%
$5625/year (without Homestead Exemption*)
$4500/year (with)

*If you intend for the property to be a primary residence then you can file for Residential Homestead Exemption of 20%. Some areas of Houston have additional school exemptions - we rarely include this since voters/city officials in that district can vote to have it removed to meet budgetary needs - boo! But there is the 20% Homestead Exemption... A property with a value of $225,000 would now be taxed based on $180,000 at the current rate.

Information from http://www.hcad.org - For owner-occupied residential property receiving a homestead exemption, appraised value may be lower than the property’s market value because of what the law refers to as the “homestead cap.” Under current law, while a homestead property’s January 1 market value isn’t capped, that property’s appraised value is capped at a maximum increase of 10% each year. For example, the January 1 market value of a capped residence might be $200,000. However, if that home were appraised at $175,000 on January 1 of the prior year, this year’s appraised value would be $192,500 ($175,000 x 1.10). A residential property qualifies for the cap the year after the year the owner first receives his or her homestead exemption on the property. In our present economy, there are likely to be situations where the market value of a home may have decreased as of January 1, 2010, but the 2010 appraised value may still increase because it was capped last year at less than the current market value.

Hope this helps!
0 votes Thank Flag Link Mon Feb 28, 2011
Your best bet is to go online and view the tax infomation for Fort Bend County Appraisal District. Here in Texas we do not have state income tax so that is why you might see the taxes higher here in Texas. If you need further help I can put you in contact with a realtor that specializes in the Katy area. As a mortgage banker I can help you when comes to mortgages and finding the right mortgage that will fit you and your lifestyle. Please feel free to contact me if you wish to further discuss. Have a great day!
Web Reference: http://www.kgcm.com
0 votes Thank Flag Link Fri Feb 25, 2011
Paul and Christy have already answered what I would advise. Check the address on the local County's Appraisal District website. You should have all the information on the listing to get this. Otherwise, send me the address and I'll get it for you.

I'm including a link from an irrelevant county in TX, but the information is statewide. You should find it useful.

All the best to you and your family!
0 votes Thank Flag Link Tue Feb 22, 2011
Also keep in mind that property taxes here in Katy are lower east of the Grand Parkway (mostly Harris County) then the homes west of the Grand Parkway (Ft Bend County).

If you send me your criteria, I'd be happy to send you more information on various subdivisions and their tax rates.
Web Reference: http://Hcad.org
0 votes Thank Flag Link Tue Feb 15, 2011
Hi Hank,

The other agents have all brought up good points. If you want to know the actual taxes, simply pull up the house on the appraisal district. Your best deal is to find a newer home in an older subdivision.

Let's say you have the exact same house in Oak Park Trails and Cinco Ranch. The taxes for the home in Cinco Ranch could easily be $2,000 more per year.

Please don't hesitate to contact me with any questions.

Thanks,
Mary

Mary Markwardt, Realtor
Keller Williams Signature
Cell:979-270-1700
0 votes Thank Flag Link Tue Feb 15, 2011
Hank, these are all great answers. One thing you need to know about a subdivision that does not have a MUD district - just means you pay for water and sewer, etc to another entity. I have owned properties in the city where I had no MUD and the water bills were substantially higher. I live in Cinco Ranch, have a pool and sprinkler and my highest water bill this year was $60. Do your homework and make sure you know how much your water bills will be in those areas with lower taxes.....bottom line, you will pay either in the form of a tax, or your water bill. Also, I have sold in areas that have water wells and propane tanks, both of which are expensive to run as well.

If you are looking for a local agent with over 22 years of experience give me a call.

Janice Ratliff
Bernstein Realty
713-819-0801
0 votes Thank Flag Link Tue Feb 15, 2011
If you go to the appraisal district website; which in Katy it could be http://www.fbcad.org/ or http://www.hcad.org search using the address and get the exact taxes for that home or give me a call and I will do it for you.

AlexRezende.com Remax Prestige
713-516-6106
Web Reference: http://www.alexrezende.com
0 votes Thank Flag Link Tue Feb 15, 2011
Email me the MLS# , and I can tell you. It depends on the location, school district, and m.u.d, etc.

A house is built with walls and beams; a home is built with love and dreams.

Vanessa D. Castillo, Realtor
Realm Real Estate Professionals Katy
281.451.1366 cell
Vanessa.Castillo@Realmpro.com
0 votes Thank Flag Link Tue Feb 15, 2011
Depending on which neighborhood it could be as low as 2.52% but it really will be determined by the neighborhood
Taxes are different in Green Trails, Cinco Ranch or Grand Lakes etc.
0 votes Thank Flag Link Tue Feb 15, 2011
Generally newer construction is in a higher tax rate because they are in a newer mud district that has not paid down their bonds enough; therefore, they transfer a higher tax rate to you to help pay for it. If you look in the actually city limits of Katy (a very tiny area) there is no mud tax but a small city tax and you get all the city benefits, i.e., city police, fire, ems, generators on the water plants (so you always have water even if a hurricane blows everything else out), etc. Subdivisions in the city limits that are in the price range that you are requesting are Fawnlake, Pine Lakes, Victoria Lakes, Pine Forest. Also, some of the older subdivisions are in an older mud district and therefore have cheaper tax rates. The only mud district that I know of in the area that has completely paid down their bonds and therefore has a low tax rate is Pin Oak. Falcon Point is another example of a subdivision that has lower tax rates. If you search thru har.com you can search for houses and if you see one you like there is a place to click to check tax info and it will tell you the tax rate and amount for that property. When you get into the master planned community of Cinco Ranch the tax rate can vary by street because of the division lines of the mud districts. I was born and raised in Katy if you have any questions I would be glad to answer them.

Kim Johnson
Leyco Real Estate
281-380-4665
0 votes Thank Flag Link Tue Feb 15, 2011
It depends on where it is located. I have a listing that there isn't a MUD involved, so the taxes are low.
0 votes Thank Flag Link Tue Feb 15, 2011
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