Quote:
Originally Posted by BroadHopper
There at least one state, Texas?, where if you live on the property year round, you were allowed to deduct $2 to $5K off your property tax. If the folks from this state moves up here, god only know that they want that implemented here!
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Lets talk about the Texas Property Tax system, no that I have been around down here long enough it is actually pretty slick.... and advantageous....
1. Yes you get to declare your primary residence as your homestead, and it helps lower your taxes.......The do this by adjusting the taxable value of what you own.
2. You can apply for further exemptions if you are disabled, and over 65, to further reduce your tax burden....
3. They freeze taxes for people over X age, so that they don't become burdened with higher then expected taxes in retirement......
4. There is no ambiguity in where your tax dollars are going... There are line items for county, local and Schools.....
5. Before taxes can be raised for School funding it has to go before the voting public...
Overall the scheme used in Texas isn't to bad.... My Taxes in Texas when down by ~3K once I had the primary resident exemption in place....I realized there was a solid point to make here, the 3K difference comes from two areas, with my homestead declared my School funding (ISD) amount owed almost was cut in half.......my county Tax, was cut by 1/3, local taxes where almost not effected.....