If you are thinking of the Austin metro area, the estimated taxes would be approximately $3,700. This will vary, plus or minus, depending on the area you purchase a home. By applying for Homestead Exemption, there are some savings on your property taxes. Also, the amount paid for property taxes, is a tax deduction you can take on your federal income tax return. This amount will vary, depending on what tax bracket you are in. Please go to my web site, there are a numeroust tools available on this site to evaluate the area, such as: schools, community profiles, roads, etc. I would happy to assist and advise you in finding a home in this area. Finally, I would be glad to provide you a relocation package of the Austin Metro area. Please feel free to contact me at your convenience.
There are no income taxes, so depending on where you're coming from, the property taxes here compared to income and property taxes where you are, may not be an issue. Typical property taxes run from 1.9% to 3.5% depending on the locale. When you say Austin, that isn't enough for someone to answer your question definitively. There are locations in the Austin metro area that can vary as widely as the percentages I gave above.
Yvonne Baker, REALTOR
The tax rates vary depending upon which neighborhood you live in. For example the taxes in Tarrytown are higher than those in Barton Hills. The average rate is about 2.8 for the Austin area in general. For a $150K home if the taxe rate is 2.75% the taxes would be $4125. Although the are exceptions to the rule. For example if you go a little south there is a neighborhood called Shady Hollow (just south of Brodie & Slaugther Lane) technically it outside the city limits, so there are no city taxes. the homes are priced from $200K-$650K. The average lots are about a half acre, with the higher priced homes on lots as big as three acres. The street address of these homes show up as being 'Austin' however they are about 1.50 miles south of Austin clity limits. So the taxes are less, now you don't get to vote in the city elections because you are a 'county' resident, but its worth it. I live in this neighborhood and it takes me about 15 minutes to get to downtown, during rush hour its about 30 minutes. There is plenty of shopping and entertainment close by as well.
Please call me if I may help you with your new home purchase.
Web Reference: http://www.BetinaForeman.com
Hello - where are you moving from?
Please do not forget - our property taxes are higher, but Texas does NOT have a State Income tax!
if your property taxes here are say 3% of the $150,000 home = equals $4,500 a year.
if you are say used to $1,500 - $3,000 depending on where you are coming from, then your delta # to address is preliminarily +$1,500.00 ish.
Depending on the State or where you are relocating from, when we moved from California to Austin - we saved a LOT more than the $1,500 that we had to ante up for our new property tax amount.
Now, I don't want to say that someone might be "tripping over pennies" becasue you work hard for your annual compensation; but as your Mortgage Broker - I am extremely qualified to show you how all of these numbers "fold in / will come together" for you and your family.
Please give us a call, or drop us an email with your questions, if you would like to crunch some numbers!
REALTOR & Mortgage Broker
I have seen them as low as 2% and as high as 3.5% give or take.
Let me know the area you are looking and I will give you a tighter range.
Good luck!! You will love it here.
For all of that, when we moved here from Kentucky 9 years ago, not having state income tax added almost $500/month to our income immediately. The property taxes can and should be escrowed into your month mortgage payment. We didn't at first because our lender wouldn't do it, and it was a real hassle to come up with $3 -4,000 by the end of January every year.
In addition, we found that our energy costs were higher, but then we didn't have AC in our old house in KY and we now have a swimming pool, which adds to the cost of electricity significantly.
We live in the DFW area, but I presure the situation is similar in Austin.
I'm glad we moved here. (We were transferred with my husband's job.) I am one of those rare birds that actually misses the cold weather and the snow. Oddly enough, our winter is actually high summer. Instead of the cold killing the garden plants and forcing us into our homes to succumb to cabin fever, we have the high heat that can wither garden plants in a matter of hours and which sends us into the safety and comfort of our AC. We do not have the high humidity with the high temperatures though, and we are too far inland to really experience any serious hurricane activity.
Where are you coming from? What is your time frame to move? Interest rates are going up so let me know if you need any help in determining what part of Texas you will call home.