Property Tax - Lower

[johnadaniels]

What is the name of your state (only U.S. law)? TEXAS

Hello,

I am 40 and starting to think about retirement in 10 to 15 years. When I retire I want to down size to save money. I was thinking of purchasing one acre of land and building a small home.

Will the size and material and location of the home play a large role in the price of the property tax.

I was hoping you could answer the following questions:


1) Would a new 500 foot wood frame house have significantly lower taxes than a 2000 foot wood home?
2) Would a new 500 foot wood frame house have significantly lower taxes than a 500 foot brick house?
3) Is the average appraisal on a 1 acre home stead approximately $17,000?
4) If I am wanting to keep my property tax around $1,000 dollars year what is the maximum size house and material I could build including the 1 acre?


I understand that that these numbers will change overtime but currently I am just trying to figure out my options. I was looking at a modest brick home on 1 acre and they were paying over $5000.00 dollars a year is taxes and did not live in the city limits. That would be 30% of my retirement just paying property taxes.

Sincerely,
John

 

[garrula lingua]

John,
It depends on what county in TX you will live.

Almost all counties have their taxes online - google your county's name and Appraisal District. You can look up specific property and see how much they're appraised.
Zillow.com also has some property tax info on their site. Put in the specific address and go to the details.

The taxing entities in the area are part of the equation for ppy taxes. School districts vary, as do counties and cities and hospital districts as to their tax rate. The second part of the ppy tax equation is how much the Appraisal District appraises the land and building to be worth.

You also have a homestead exemption (if this is your primary residence), an over-65 year old exemption, disabled person, and a disabled veteran's exemption which may apply against tax obligation (there're other exemptions; these are the most common).
There are also some income tax benefits for rural ppy on which there's any livestock.