Texas Property Tax Cuts
It has finally passed and gone into effect. Your 2006 Property Tax bill should reflect a .17% reduction in the school tax. In 2007 it should reduce again by .33%, giving you a total deduction of .50%.
If you have a $100,000 house with a previous tax rate of 2.5%, your taxes were $2,500 in 2005
With the same value and rate for 2006, your tax rate is 2.33%, and your taxes will be $2,330.
In 2007 with all things remaining the same, your tax rate would then be 2.0% and your taxes will be $2,000.
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Joe Cloud
Broker, ABR, GRI, ePRO, eAgent, Realtor
Real Estate by Joe Cloud & Associates
www.joecloud.com
972-897-0758
The items posted in this forum are not legal advice, and should never be considered legal advice. If you have any legal questions please consult an attorney. This website is designed to provide opinions and advice, and not to act as a source of legal information for any purpose. This is not intended to solicit properties currently listed for sale. Texas Broker's License #0506019
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