Comments on: I am purchasing a foreclosed home and I am trying to figure out what the property taxes will be. Help!?

By: Suzi

Suzi — Tue, 09 Mar 2010 15:53:59 +0000

Go to the Central Appraisal District website for the County where the property is located, and the school district to see the property value history and current tax rates. The appraisal determines the market value of the property, loan to value ratio for your loan. The annual tax amount of $3600 is probably the taxes without any type of homestead exemptions. That is a good high estimate to use. If this property will be your homestead, then you would qualify for exemptions that will lower that amount.
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By: src50

src50 — Tue, 09 Mar 2010 15:25:59 +0000

It is NOT based on purchase price or the lender's appraisal. It is based on the tax assessment. Call the county tax assessor's office.
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By: Prophet 1102

Prophet 1102 — Tue, 09 Mar 2010 14:46:59 +0000

Contact your county clerk’s office for an exact answer for your location. Some locations also use the sales price (such as California), some use an appraised value.

Find the "mil rate" for your community. Based on what they’re paying, sounds like a rate of about 0.025 to 0.029

So if it’s taxed at $84,000 then about $2,419 a year would go to taxes.
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By: Liz Lam

Liz Lam — Tue, 09 Mar 2010 14:10:59 +0000

they’re based on the propery appraisal it has nothing to do with what you pay for it

my house is appraised as 325, we bought it at 270, but our taxes are based on the 325 because that is what they town values the property as
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bought a house in october

By: golferwhoworks

golferwhoworks — Tue, 09 Mar 2010 13:52:59 +0000

the county tax office sets the rates and it is not based on sales price. But if it appraises for less than the county has it appraised at then you can submit the appraisal for their help in lowering the taxes.
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By: Sam

Sam — Tue, 09 Mar 2010 13:04:59 +0000

You could find out on line or call the municipality. You may need to know the block number and lot number.
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By: dino F

dino F — Tue, 09 Mar 2010 12:27:59 +0000

Taxes are calculated by the property appraiser's value.
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By: Wobbily

Wobbily — Tue, 09 Mar 2010 11:55:59 +0000

go to your countys website. look up property taxes.

call your county courthouse if necessary.

its prob calculated by zoning. depends where the property is and whats its classified as (rural/urban/commercial)
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By: Devyn B

Devyn B — Tue, 09 Mar 2010 11:35:59 +0000

just based on location. They should be the same as your neighbors
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