Sherry, Home Buyer in 24151

Taxes on properties

Asked by Sherry, 24151 Thu Dec 24, 2009

I've been researching many of the homes and properties there in Texas with thoughts of buying there, Yet the taxes are astrinomical compared to other states, ie; AZ, VA and so on, Is this because they don't have a state tax? Is this where they compensate? Food for thought. Very deterring.

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Hi Sherry. You are correct about the property taxes being high. They offset a state income tax. When you consider the cost of living, most people find the numbers a little easier to digest. The high taxes do afford us some huge benefits, funding for public schools is an obvious beneficiary of a higher property tax.

There are strategies/tax breaks that will provide some relief. We have moved many families here from all over the nation, and the overwhelming response has been a positive one. The taxes are high, but you get what you pay for.
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0 votes Thank Flag Link Thu Dec 24, 2009
Sherry. I saw in NJ that a $200k house would pay over $6k in taxes. Does that make texas seem friendlier?
0 votes Thank Flag Link Thu Dec 24, 2009
Property tax on a home can vary widely from one home to another in Harris County and the surrounding counties, just depending on the type of tax exemptions you file. If the property will be th primary residence, the home owner can file for a homestead exemption, which brings the taxes down significantly. If you buy more than an acre of land and use it for agricultural purposes, then you can file an ag exemption and your taxes will almost zero.

Also, depending on which neighborhood the taxes can vary due to differences in the MUD district and fire/emergancy service, school district taxes, etc.

You are wise to look at the taxes when you shop for homes in Texas. Most people take a mortgage with an escrow and do not think too much about the taxes, but it does add up. If you move to Texas, you will not pay a state income tax or many other taxes that exist in other states. We do have an approx. 8% sales tax on many items, but not on most food in the grocery store and other important staples.
0 votes Thank Flag Link Thu Dec 24, 2009
Don't let our tax structure determine whether you buy here. You are correct that we don't have a state income tax but we do have good schools and other public services that are equal to those in states that DO have a state income tax. Property taxes are deductible on your federal income tax. If you don't own property you don't pay them, which is why many people rent rather than buy. My son recently was transferred back to Texas from Oklahoma. Moving back home saved him $300 per month in state income tax that was taken out of his monthly paycheck while in OK. We have good roads, good schools and services equal to other states'. Someone has to foot the bill.
LaRetta Allen
0 votes Thank Flag Link Thu Dec 24, 2009
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