Property taxes in Texas can be confusing with so many terms being thrown in the mix. Today I take it step by step and break it down in a simple to understand format.
Property taxes are actually pretty simple and they consist of two main factors: 1) Assessed Property Value & 2) Tax rates. Property values are set by the appraisal district on each property. Tax rates are set by each entity which governs your home, for example the city, county and school district.
The math is simple we first add up the tax rates for the taxing entities and get a total. We grab that total and multiply it by the assessed value on the given property. The result gives you the total taxes on the property. Pretty simple, right?
I will be creating another video where I cover some of those confusing terms I mentioned early. Also things you can do to get a discount on your property taxes.
Have questions about this or other topics, don not hesitate to contact me.
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Luis Cuevas, Realtor®
RE/MAX Cross Country
1990 Justin Road
Highland Village, Texas 75077
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