The City of Dallas Offers Only Limited Property Tax Relief
Those who own property in the city of Dallas know that their annual tax burden is hefty, but they may not realize that, based on appraised value, they pay the highest property taxes among the five largest cities in Texas. Many Dallas property owners feel the weight of their tax obligations, and struggle to keep current on what they owe, in spite of the standard 20 percent homestead exemption offered by the city. Dallas offers a limited number of additional exemptions to certain qualifying property owners and their surviving spouses, namely:
- Seniors over age 65
- Disabled individuals
- Disabled military veterans
Dallas Property Tax Information
The city of Dallas lies within four Texas counties, so there are four central appraisal districts that assess taxes on properties within its boundaries – Dallas County, Collin County, Denton County, and Rockwall County. Unless a property owner qualifies for quarterly payments or a deferral, the full assessed property tax amount must be paid to the Dallas County Tax Office by January 31st. Sizable penalties and interest are added to any delinquent property taxes beginning February 1st and continue every month until the balance is paid in full. If a property owner has not paid their taxes by July 1st, a 20% collection fee is added to the tax balance and their account is sent to the tax assessor’s collection attorney. At this point, the attorney will file a property tax suit against the property owner. A property owner's inability to settle the account and pay all outstanding taxes, interest, penalties and collection fees can result in a tax sale and foreclosure. One way to prevent this is by applying for a Dallas property tax loan through Property Tax Funding. Property owners are encouraged to apply online or by contacting our office at 877-776-7391.
Dallas, population 1.24 million, is one of the five fastest-growing cities in the US, and the cultural and economic hub of North Texas and the entire South. The city's booming economy is bolstered by 20 Fortune 500 companies and has deep roots in the technology, energy, and transportation sectors. Factor in a vibrant arts scene, non-stop nightlife, myriad shopping and entertainment choices, and NFL, NBA, MLB, MLS, and NHL sports teams, and it's easy to see why the lifestyle in Dallas is unrivaled, not only in Texas, but anywhere in the nation.