Proerty Taxes in the state of Texas - typically what % of taxes equal property value?

Question

Is property taxes in Tx high for the nation? If property taxes in Tx is $200 yearly - is there a guide to roughly determine property value?

Answer 1

Property taxes are collected by towns and counties, not states. The mil rates vary considerably. Call or look up the assessor's office in community where the property is located.

Answer 2

While the rates in TX vary widely, only the most remote counties have anything approaching "low" millage rates in TX.  If you live in or near a major city you can expect property taxes to range from about 3.5% to 5% of fair market value.

I owned property in the San Antonio area for a number of years and my taxes ran just under 4% of assessed value.  TX law requires property to be assessed at fair market value but values often slide based upon the realities of the market.  The property was assessed at $72k and my taxes were right about $2,800 in the year that I sold it.  The sales price was $106,000 and the buyer was shocked by the $4,100+ tax bill the next year, since the appraisal district automatically adjusts the assessed value to the selling price when property changes hands.

A $200 tax bill in greater San Antonio would work out to about $5,100 in assessed value.  That wouldn't even be a decent building lot in most of that area.  If you were in the middle of nowhere in the Big Bend Region it might work out to $15k worth of scrub land or a small shack on a tiny lot somewhere.

Answer 3

If Bostonian is correct that is astronomical for taxes. Search your county government office (assessor).  There may be public records for properties. Where we live you can do an online property tax search, try that?   In IN, for a $280,000 assessed value, we pay $2000 in property taxes.  We are reassessed each and every year. When we lived in NJ we paid $9000 on $480,000 assessed value. That amounts to 0.75-2% total for two very different states, and I thought NJ was one of the highest!!