Property Taxes

We are currently in escrow on a house that was built in 2009. I am very please with the home and the deal we got, but the property taxes seem ridiculous to me. It comes out to about 1.37% of the purchase price. I was just curious to see what others pay.

Seems totally reasonable. My property taxes were 1.3% of the assessed value here in Florida. We have something called "Save Our Homes" which limits the increases. So the taxes are derived at lower than the assessed value. It would be double if I didn't have that. So new buyers can get hit pretty hard. In addition we have homeowner exemptions that are part of that lowered amount.

Sounds like you are getting a good deal on taxes.

Try right @ 2% on a piece of raw land with no improvements in Texas....$3,500 last year for 2.5 acres. Of course, neither Texas nor Florida have personal income tax, so land/home owners foot the bill for all the renters in the state! I thought states with a personal income tax generally had lower property taxes...I guess not!

About 10% of my regular work income is from tax appeals. Find out what the appeal process is and try it. I have never seen someone's taxes go up due to trying a tax appeal, but I have seen countless times where it goes down...

I assume that you are in Bernalillo County, NM, here is the appeal process:
Protesting Assessment Values
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Q. What is the appeal/protest process if I disagree with the county Assessor's valuation on my property?
A. To start the appeal/protest process in Bernalillo County, you should:

1) Completely fill out the Protest Form that is available at the County Assessor's Office or on the Assessor's Web page at www.bernco.gov/assessor-office.

2) The completed form must be returned to the Assessor's Office within 30-days of the initial mailing date of the Notice of Value. See the Assessor's Office Web page: www.bernco.gov.

3) An informal meeting will be made with a field appraiser.

4) A formal hearing with the Protest Valuation Review Board will be scheduled if the valuation is not resolved at the informal meeting.

5) If it is not resolved satisfactorily at the Board Hearing before the Protest Valuation Review Board, you may make an official appeal to District Court.

Q. May I review my records at the Assessor's Office for my appeal/protest?
A. Yes. Property records are confidential information. You may only review your own file.

Q. Is there any other remedy of appealing/protesting my value?
A. Pursuant to 7-38-39 NMSA 1978 Protesting Values-Claim for refund, after receiving your property tax bill and after making payment prior to the delinquency date of all property taxes you may file a claim for refund in District Court.

2.38% for me. 2.0% is cheap for the Austin area. This is why not having a state income tax is really nothing to brag about in TX.

Sam's right though, the only thing you can really do about it is appeal your assessed value. I used to appeal mine every year. I was successful about 30% of the time, and it takes quite a bit of prep and research time.

You can also vote no to all bond elections, but they all always seem to pass around here.

Thanks for all the replies. I guess it is not that bad of deal.
We did have a large bond issue pass last year for the School District. My job is in contract surety bonds so it would be hard to vote no for public works construction.

I am in the highest prop tax rate I think in Austin, almost 2.8%! It is insane paying the same property taxes on my house here that my family pays on their house in NC that is worth more than 4x mine. I hadn't ever really looked at my assessment before this year and am so mad at myself. My district has my square footage more than 230 sq ft above my survey and plans! Hopefully it is an easy protest.......at that tax rate, every little bit helps!

Originally Posted by CarolinaGirl

I am in the highest prop tax rate I think in Austin, almost 2.8%! It is insane paying the same property taxes on my house here that my family pays on their house in NC that is worth more than 4x mine. I hadn't ever really looked at my assessment before this year and am so mad at myself. My district has my square footage more than 230 sq ft above my survey and plans! Hopefully it is an easy protest.......at that tax rate, every little bit helps!

Elisabeth
If you square footage is really off make sure to mention that you are using ANSI Z765-2003, the American National Standard for Single-Family Residential Buildings, Square Footage - Method for Calculating, it is the recognized standard in all 50 states for residential property.

The standard for commercial property is ANSI-BOMA Z65.1-1996 That is the best free copy I can find online. PM me if you want better copy.

2.4% here in Houston.

Originally Posted by SamIngram

Elisabeth
If you square footage is really off make sure to mention that you are using ANSI Z765-2003, the American National Standard for Single-Family Residential Buildings, Square Footage - Method for Calculating, it is the recognized standard in all 50 states for residential property.

The standard for commercial property is ANSI-BOMA Z65.1-1996 That is the best free copy I can find online. PM me if you want better copy.

Thank you so much Sam for this info! This will probably be super helpful if I have to go in for the full hearing process! I really appreciate you sending it!

Originally Posted by CarolinaGirl

Thank you so much Sam for this info! This will probably be super helpful if I have to go in for the full hearing process! I really appreciate you sending it!

No problem.

You might want to download a free copy of Rapid Sketch.

I think you can also download a copy of WinSketch for free.

These programs will calculate the square footage for you and are pretty simple. If you need help I will look at your finished sketch and tell you if it was done correctly or not, just let me know.

Here in Wisco our place is at 2.2% (On the lake though)