DFW BRRRR: Finding reliable annual property tax numbers

[David Schulwitz]

Hello Fellow BPers, 

I'm analyzing deals for BRRRR around DFW using the great BP BRRRR calculator. First box of entry that has me scratching my head is the "annual property taxes".

If I'm analyzing a deal off of the MLS, a number is listed under "unexempt taxes" straight from the listing. If I'm not analyzing a deal from the MLS however, where do I find this information? I know the answer is "county tax assessor's site" - but when I look on the Tarrant County tax assessor's site, it makes me fill in a number of different questions regarding my estimate of value, school districts, etc...("tax estimator")

https://taxonline.tarrantcounty.com/taxweb/taxcalc...

Am I missing a handy website to find out tax numbers quickly?  I was really hoping for a website where I could just type in the address and it would give me the magic number, but maybe that was just a hopeful wish...

Thank you, 

Rookie BRRRR Investor

[Scott MacArthur]

David, if you want to be conservative on the tax number you can use the market value x 3% as a quick calculation. Most total tax rates in the area are between 2.3% - 3%. Also, be careful using the unexempt taxes from the MLS listings. That is based on the prior year's valuation. If you buy the property for less than the tax appraised value you can typically protest it and get it down to purchase price the first year but plan on that going up closer to market value in the coming years. That's why it is always good to base it off of market value, not what you pay for it.

If you need to drill down on the taxes for a certain area or a certain property let me know, I can send you the breakdown.

Also, I'll try to attached a chart that has the combined tax rates as of 2017.  I don't have 2018 yet.  Hope that helps!