Paying taxes due is ony fun in a game of Monopoly. In real life, taxes add to other costs of living and for many can become a burden financially.

In Texas, this is especially the case, and often a surprise for those moving from hig income tax states. Texas has been cited as having the 7th highest median property taxes and 14th highest state sales tax rate in the country.  We may not have income taxes, but we sure do have taxes! While you can manage sales taxes directly through spend, once you buy your home, property taxes are ad valorem and therefore follow any upward trend in the market. Same home >> Higher taxes. However, the more you know, the more you can control.

Property tax brings in a significant amount of money for most local governments. The funds are most often used to pay for schools, roads, police and firemen, emergency response services, libraries, parks and other public works services provided by local governments.

The overall rate for property taxes in Texas is 1.80%.  Texans pay up to about 2.3% of assessed value for our homes and investment properties. That can add up, especially given the strength of our market. Appealing your property tax assessment is a must to attempt to gain a bit of relief from the very real pain of taxes

Every year, Austin Roundrock MSA property owners whose market value has increased by at least $1,000 over the last year will receive a Notice of Appraised Value. This notice differs somewhat based on the County but in general contains three important values:

Market value: This is the value based on what your property would sell for as of January 1.
Assessed value: This is the reduced value of your property based on limitations provided by having a homestead or other exemptions.
Taxable value: This is the assessed value minus any exemption amounts. It is the value used to calculate your property taxes for each taxing unit (for example, the school district, the water district, etc)

If you believe the market value of your property is incorrect, you have the right to protest that value. By law, property owners who wish to file a protest must do so before May 15 or within thirty days after a notice of appraised value is delivered. The deadline to file your protest for the 2023 protest season depends on the county but working with a professional is highly recommended.

Reasons to protest your assessment include items such as overvalued when compared to comparable homes, errors in the assessment such as sq ft, and missing exemptions including senior, disabled veteran status, surviving spouse of a first responder killed in the line of duty, or homestead exemptions.

Contact us today for a connection to a reputable protest service. We may also have discount codes that could reduce your cost to protest.

Property Tax Protest Information by County

NICE TO KNOW: The State of Texas has no state property taxes. All property taxes are at county and local levels.

GOOD TO KNOW: The Texas Tax Code, Section 33.06, allows taxpayers 65 years of age or older to defer their property taxes until their estates are settled after death.

NEED TO KNOW: To get an exemption, you must file for it. And this does not require you to pay anything. The Texas Comptroller’s publication Property Tax Exemptions (PDF) offers a short summary of the exemption provisions.