Estimating Property Taxes in Texas

[Gil Estupinan]

Hey Bigger Pockets!!

Looking at purchasing a turnkey property in Rowlett Texas and I was wondering how best to estimate property taxes from my analysis. 

Example:  If the historical assessed price of the property is $100K and the purchase price is $150K would should I use as the post purchase assessment value? 

I guess as a worst case scenario I can use the tax percentage from the county records and multiply that against the purchase price...but I'm being told that is not how it works in Texas.  

Any insight would be greatly appreciated.

Thanks!

Gil

[Greg H.]

@Gil Estupinan

No need to guess in Texas.  You can go to the Rockwall County Appraisal District site and look up the appraised value and estimated property taxes for this year and in past years

Property taxes are based on the appraised value as of Jan 1st and will not change at least for this year based on your purchase.  For next year, since Texas is a non-disclosure state, the appraisal district may or may not know what you pay for the property

Keep in mind in Texas your tax appraised value has ZERO to do with what your property is actually worth.  The higher the appraisal means the more you pay in property taxes.  I have bought properties for $100,000 that were accessed at $50,000 and bought properties for $50,000 that were accessed for $100,000 and both were great deals