Property Taxes

Where can I learn more about appealing my property taxes?

Contact your local tax assessor’s office to see what procedures to follow to appeal your property tax assessment. You may be able to appeal your assessment informally.  Mostly likely, however, you will have to go through a formal tax appeal process, which begins with an appeal filed with the appropriate assessment appeals board.

How is a home’s value determined?

You have several ways to determine the value of a home. An appraisal is a professional estimate of a property’s market value, based on recent sales of comparable properties, location, square footage and construction quality. This service varies in cost depending on the price of the home. On average, an appraisal costs about $300 for a $250,000 house. A comparative market analysis is an informal estimate of market value performed by a real estate agent based on similar sales and property attributes. Most agents offer free analyses in the hopes of winning your business. You also can get a comparable sales report for a fee from private companies that specialize in real estate data or find comparable sales information available on various real estate Internet sites.

Are taxes on second homes deductible?

Mortgage interest and property taxes are deductible on a second home if you itemize. Check with your accountant or tax adviser for specifics.

How do property taxes work?

Property taxes are what most homeowners in the United States pay for the privilege of owning a piece of real estate, on average 1.5 percent of the property’s current market value. These annual local assessments by county or local authorities help pay for public services and are calculated using a variety of formulas.

Are property taxes deductible?

Property taxes on all real estate, including those levied by state and local governments and school districts, are fully deductible against current income taxes.

What is an impound account?

An impound account is a trust account established by the lender to hold money to pay for real estate taxes, and mortgage and homeowners insurance premiums as they are received each month.

colleen-pye-figure-web-medYour Neighborhood Expert
I am a full-time home marketing GURU. Keeping consumers homes updated in the market place, making sure buyers have the most accurate information at all times, offering a team of buyers agents to maximize your time by offering a flexible schedule.

Today's homes are going fast.. our team works hard to RUN AND SHOW.. when you need us to be there QUICKLY. The goal is to make HOME BUYING AND SELLING AS EASY AS PYE.

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Colleen Pye
CRS • ASP • e-PRO • CDPE • REALTOR®
Home Buying & Selling
As Easy As Pye
Direct: 281-932-2784
info@colleenpye.com
Lic #: 52973
Each office is independently owned and operated
Texas Real Estate Commission Consumer Protection Notice
Texas Real Estate Commission Information About Brokerage Services

nexthome-realty-center-logo-vertical-web

 

 

Colleen Pye
CRS • ASP • e-PRO • CDPE • REALTOR®
Home Buying & Selling
As Easy As Pye
Direct: 281-932-2784
info@colleenpye.com
Lic #: 52973
Each office is independently owned and operated

colleen-pye-figure-web-medYour Neighborhood Expert - I am a full-time home marketing GURU. Keeping consumers homes updated in the market place, making sure buyers have the most accurate information at all times, offering a team of buyers agents to maximize your time by offering a flexible schedule. Today's homes are going fast.. our team works hard to RUN AND SHOW.. when you need us to be there QUICKLY. The goal is to make HOME BUYING AND SELLING AS EASY AS PYE.

Colleen Pye CRS • ASP • e-PRO • CDPE • REALTOR® Home Buying & Selling As Easy As Pye Direct: 281-932-2784 info@colleenpye.com Lic #: 52973 Each office is independently owned and operated

colleen-pye-figure-web-medYour Neighborhood Expert I am a full-time home marketing GURU. Keeping consumers homes updated in the market place, making sure buyers have the most accurate information at all times, offering a team of buyers agents to maximize your time by offering a flexible schedule. Today's homes are going fast.. our team works hard to RUN AND SHOW.. when you need us to be there QUICKLY. The goal is to make HOME BUYING AND SELLING AS EASY AS PYE.