Re: HELP needed with Property Tax Question


"jimstevens" <jimstevens@xxxxxxxxxxxxxxxxx> wrote in message
news:hrqlo3hordoahd9nblo9ubt846j2e6346n@xxxxxxxxxx
[Default] On Sat, 12 Jan 2008 04:30:57 -0800 (PST), AndyS
<andysharpe@xxxxxxxx> wrote:



Terry wrote:
I'm wanting to retire to a small town in the country when I retire.
At my present location in DeSoto TX, I get a City School Tax bill
each
year for $2,400.00 on my $116,000 home. It kills me to get a single
bill each year for that amount.
How can I find out what my School Tax bill will be if I move to a
smaller town in Texas?

Thanks,
Terry

Andy writes:

In North Texas, the size of the town you're in doesn't make much
difference
in taxes. You're gonna pay a total of around 2% of appraised value
regardless..... The density of children to population is about the
same, so
the number of children that have to be educted versus the number of
taxable entities tend to average out.
I have owned property in Plano, McKinney, Eureka, Allen, and
Pottsboro,
and the taxes I was charged per thousand of assessed value was very
close. Plano is an high cost suburb of Dallas, and Eureka is a small
incorporated township without a traffic light.

If you retire, you need to look into the special provisions that
Texas has
in the tax code for people 65 and over. There are two main items of
interest:
1) At 65, the property tax can be "frozen" to the dollar value
that year,
and future increases in either appraisal or tax rate will not
increase
your tax bill....... You MUST apply for this, however.

2) At 65, you can file what is called a "tax affadavit", which is
a statement
that you acknowledge that you owe the tax, but want to defer
payment
until the property needs to be retitled ( you sell, move, or
die). The
taxes just accumulate ( at 8% interest) as a tax lien on your
homestead,
and no foreclosure proceedings can happen when your statement
is
on file at the clerk's office..... You also have to apply
for this.

Your local tax assessor can fill you in on the details. Each
assessor's
office has a pamphlet called "Taxpayer's Bill of Rights", or some
such,
that mentions these things, but not prominently. These items are
also
spelled out in the Property Tax Code, which you can access on the
internet . Just Google " Texas Statutes"...... It has a good search
engine
to examine all laws and codes in Texas....

The best way to minimize your property tax is to live in a little
house on
a small lot, OR live on 5 or 10 acres in pasture that can be zoned
as "agricultural". This solution probly isn't available to you.

Good luck. As you learn the nuances of the tax codes, whether
federal
or local, you will find ways to save. None of them are very pleasant,
tho,
since it usually means you will have to go and do something...

Andy in Eureka, Texas

( Eureka -- population about 375, tax bill about 2% )

Problem is that sometimes things change. Husband dies and wife can't
manage the home and has to sell. All those deferred taxes come due
then cutting her expected nest egg to live the rest of her life.

I don't think that's the way it works here. If the spouse stays on the
property, even if she/he is UNDER 65, the deferral remains in effect, I
think.


--
The doctors have narrowed my condition
down to two ailments. They say I either
have arthritis or rigor mortis.

JC

www.cellphonesforsoldiers.com



.

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    ... At my present location in DeSoto TX, I get a City School Tax bill ... In North Texas, the size of the town you're in doesn't make much ... and the taxes I was charged per thousand of assessed value was very ...
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  • Re: HELP needed with Property Tax Question
    ... At my present location in DeSoto TX, I get a City School Tax bill ... and the taxes I was charged per thousand of assessed value was very ... the property tax can be "frozen" to the dollar value ...
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  • Re: HELP needed with Property Tax Question
    ... At my present location in DeSoto TX, I get a City School Tax bill ... In North Texas, the size of the town you're in doesn't make much ... the property tax can be "frozen" to the dollar value ...
    (soc.retirement)