Three Ways to Save on Texas Property Taxes
Posted by Matt Longhofer on Tue, Jun 08, 2010 @ 10:10 PM
Texas Property Taxes Sky High!
We are often asked why Texas property taxes are so high. The answer is simple; Texas doesn't have a state income tax. Although Texas ranked 43rd in overall tax burden (property, sales, and income tax) during 2008, the absence of a state income tax means the responsibility of paying for schools, roads, infrastructure, and social services falls primarily upon the property owner, both commercial and residential. Don't take this the wrong way, we are not advocating a state income tax, rather it is important to understand the landscape of state and local tax revenue sources and their impact to Texas property tax rates.
County, School, and Other Tax Assessors
The typical property owner is subject to a property tax assessment from several entities such as a school district, city, county, and other applicable taxing jurisdictions. Often the entities will consolidate collection into one or two tax collectors, unless you reside in Harris County or Fort Bend County, where it is not uncommon for a given property to see taxes collected by up four separate tax collectors.
You may feel like you are you paying too much for your property taxes. This short video produced by the Travis county property tax assessor in conjunction with the Texas Association of Counties covers 3 ways to reduce your property taxes. In addition, the video covers the common homestead exemption, but also exemptions that are available for seniors, disabled homeowners, and disabled veterans.
