The property taxes are set by the Local County Appraisal District and the value is based on comparable neighborhood sales.
The property taxes are comprised of; Municipal Utility District taxes (MUD), drainage districts, school taxes, county taxes, and emergency services department. Property can be taxed by some or all of these entities (depending on the specific neighborhood), and added together they make up your total tax rate.
The tax rate is before exemptions. In the State of Texas, if you own the property and occupied it as your primary residence on January 1, it is considered your homestead and you qualify for a Homestead Exemption (this is not automatic, you will need to apply). Residents over the age of 65 qualify for Over-65 Exemption. Residents with disabilities qualify for a Disability Exemption. Each one of the taxing entities will decide value of reduction for your qualified exemptions (the percentage will vary depending on neighborhood).
Below is an example for a property in Cinco Ranch in Katy, Texas that the County Appraisal District has valued at $239,000.00
|
Tax Entity/Collector |
Tax Rate |
|
|
Estimated Tax |
|
|
Tax Rates |
(per $100.00) |
# of Units |
|
(before exemptions) |
|
|
CINCO MUD 10 |
0.65000000 |
2390 |
|
$1,553.50 |
|
|
FORT BEND CO DRAINAGE |
0.01800000 |
|
|
$43.02 |
|
|
FORT BEND CO GNRL FND |
0.49874000 |
|
|
$1,191.99 |
|
|
FORT BEND CO LRFC |
0.00000000 |
|
|
$0.00 |
|
|
FORT BEND ESD #2 |
0.09200000 |
|
|
$219.88 |
|
|
KATY ISD |
1.52660000 |
|
|
$3,648.57 |
|
|
WILLOW FORK DRAINGE |
0.20000000 |
|
|
$478.00 |
|
|
Total Tax Rate: |
2.98534000 |
|
|
$7,134.96 |
|
Total taxes for this property are $7,134.96 minus exemption(s) you qualify for. This can be at least 10%.
Important note is that Texas does not have a State Tax!
I will be happy to provide you with specific property information, just email me at alicia@aliciaphelps.com