How are property taxes calculated on houses?

Property tax exemptions are calculated in various ways depending upon the exemption and the current property tax legislation. To access the most up to date, current property tax exemption information go to the Texas Comptroller’s webpage. See the link below. Hope this helps. https://comptroller.texas.gov/taxes/property-tax/exemptions/

Hello Barry,

You got some real good answers by other agents. Let me ask you this - Is this for the house you are currently living in or the one you plan to purchase? Reach out to me and I can give you exact numbers for that house. I will go by appraisal website data but the correct person to answer that question will be reaching out to appraisal office. If you give me the house details, I can provide their phone and address.


Chris
832-859-8698
ChrisRealEstatePro.com

I'm sure the previous answers should have provided some consolation and guide you in the right direction. As a very brief caveat to these informative answers, consulting a Tax professional or Property Tax Expert could be very beneficial and informative.

Hi Barry,
You've received some very good answers. I'll add to what Michael said (but hopefully not add to the confusion that taxes can cause). The $25,000 school district exemption you'll receive for your homestead exemption is, as far as I know, a minimum. In some school districts, you'll receive only the $25,000, yet in other districts (in the Houston area) you could receive an exemption of $30,000 or more. Even within the same school district, homeowners, with only the homestead exemption may get varying exemption amounts based on the appraised (tax appraised value) of their home. The appraisal district for the specific home, will be the best source of information.

Hi Barry,

Property taxes will differ not only county to county, but neighborhood to neighborhood and property to property. Property Taxes are based on the tax rate for county property taxes, ISD, MUD (if there is one), hospital, etc. Each entity has a tax rate assigned to it, and combined will make up the total tax rate. The assessed value of the property will then determine how this tax rate translates to a dollar figure (i.e. a $900K home with 3.0 tax rate would have $27,000 in taxes while as $200K home with 3.0 tax rate will have $6,000 in taxes).

To answer the part about homestead and over 65 exemptions, each county will vary on the percentage of the value that will be the taxable value and each entity - MUD, hospital, county, etc. can also vary with the percentage.

I am more than happy to discuss further and provide more specific information for your particular property, as it's easier to explain when going through the real numbers on a property rather than hypotheticals. Your taxing authority can also be of assistance.

Darby Grimmett / Texas Real Estate Broker / Keller Williams Realty / 936-827-9217 / darby@darbygrimmett.com

Hi Berry,

The over 65 exemption has parts. The link below shows the different types of over 65 exemptions you can look at. Some are an A or B and not an A and B.

Age 65 or older and disabled exemptions: Individuals age 65 or older or disabled residence homestead owners qualify for a $10,000 homestead exemption for school district taxes, in addition to the $25,000 exemption for all homeowners. If the owner qualifies for both the $10,000 exemption for age 65 or older homeowners and the $10,000 exemption for disabled homeowners, the owner must choose one or the other for school district taxes. The owner cannot receive both exemptions.

The local tax authority may also have added exemptions or "in addition to" exemptions for over 65.

As a Senior Real Estate Specialist, I help all my clients over 55 with all the nuances of senior home ownership.

Michael Jobin, SRES
C&K Properties

Homestead exemptions are calculated by the appraisal district and the taxing entities. There is no formula that can be applied to all entities and they will vary appraisal district to appraisal district somewhat. For instance the formula a City uses to calculate your homestead exemption will be different than your particular school district.

To gain the most accurate answer, and to also answer your question about over 65, I would recommend contacting your appraisal district directly. I have found in my conversations with them they are very helpful to provide just the right answer to your question.