How to Calculate Yearly Property Tax in Texas
Calculating annual Texas property taxes helps you determine part of the cost of homeownership in the state. Texas bases the taxes on the property's assessed value, an estimation set by the chief appraiser of the taxing county. Property taxes vary by area in Texas but commonly include county, school, and city or town assessments. Each tax type has a different rate as set by the chief appraiser. The money generated from taxes is used to pay for services such as government agencies, libraries and other local services.
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Instructions
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Visit the official website of the Texas Comptroller (see the Resource section) for contact information for the chief appraiser of the property's county. Write down the contact information for the chief appraiser.
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Contact the chief appraiser. Give the appraiser the property address. Ask the appraiser for the property's assessed value. Write the value down. Ask which taxes the property is subject to and the current rate for each type of tax. Ask if the property is subject to any special fixed assessments for services. Write all the answers down. Tax rates vary by area. For example, Dallas, an urban area, had a tax rate of 0.797 percent for city taxes in 2011, while Blue Mound, a rural area, had a city tax rate of 0.644737 percent. Texas state laws don't limit property taxes but require uniform tax rates by area.
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Multiply each tax rate by the property's assessed value. Add all the estimated taxes together. Add any special assessments; the result is the estimated annual Texas property taxes.
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Tips & Warnings
Ask the chief assessor about tax exemptions -- fixed amounts you're allowed to deduct from the assessed value before calculating taxes -- if you think you may qualify. Exemptions vary by area but include veteran and senior citizen tax breaks.
References
- Window on State Government (Texas Comptroller): Setting Tax Rates
- Window on State Government (Texas Comptroller): Valuing Property
- Dallas County: Tax Rates 2011
- Texas Gulf Coast Online: Texas Property Taxes in a Nutshell
- City of Blue Mound, Texas: 2011 Property Tax Rates in City of Blue Mound
- Texas State Historical Association: Blue Mound, Texas
