Property Tax Adjustments

One thing people consider when purchasing a home is the annual property taxes.  With home values at an all-time low, here’s a quick tip that may help you.  If you want to know the current and past annual property taxes go to the county appraisal district website and conduct a search for the property address.  It will bring up the tax information for 2010 and previous years (2011 values are not likely available).

If the value is different from what you paid for the property, you may be able to get the taxes adjusted.  Once you close on the property, take your HUD statement to the county tax assessors office and have them adjust the value to what you paid for the property.  If the value is less than what’s listed your property taxes should be lowered.  Also, you may get an additional exemption (homestead exemption) which may further reduce your taxes if you plan to occupy the home.

To look up values of a particular property in Dallas County please visit….http://dcad.org/

For Tarrant County visit…http://www.tad.org/