Home assessed value - will it go up after the sale? - austin homes for sale
I am thinking of buying a house that an estimate is much lower than what I intend to have to pay. However, the higher score than the retail price of about 5 km. I fear that taxes will rise after the sale, because someone told me that after a sale is made to the taxable value is the selling price. This is the Travis County, Austin, Texas. Ideas would be most appreciated - Thanks for your time!
Sunday, January 17, 2010
Austin Homes For Sale Home Assessed Value - Will It Go Up After The Sale?
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3 comments:
Gabrielle.
There are ways to try and prevent your tax appraisal from increasing to your sales price.
After you purchase your home, the county will send you something in the mail/or call you congratulating you on your purchase and ask what you paid for the home "to keep their records accurate". Because Texas is a non-disclosure state, you don't have to answer them. The only information they have access to is the deed of trust which will list your loan amount.
If the house is currently homestead exempt and you plan on living there as your primary residence, you will need to file a new homestead exemption. Don't assume the county knows this is your primary residence. That form can be found on the Travis County Appraisal District website.
Hope this helps!
Gina Nyland
That is exactly what happened. It is common in Texas.
TX State law requires that the appraised value for tax purposes equal to the fair market value of the property. The valuations are adjusted annually by the statistical analysis, and about every 5 years or longer with a formal evaluation. The valuation is more art than science and errors in the system passes over time. The best estimate of the property is sold in an arm, a transaction in a manner almost all districts TX adapt assessment to the estimated value of the sale lowest of the past, when the property changes hands.
To estimate more accurately how high your taxes are shared by the tax estimate and actual application of this percentage to the selling price. You will change your tax bill in your pocket next year.
That is exactly what happened. It is common in Texas.
TX State law requires that the appraised value for tax purposes equal to the fair market value of the property. The valuations are adjusted annually by the statistical analysis, and about every 5 years or longer with a formal evaluation. The valuation is more art than science and errors in the system passes over time. The best estimate of the property is sold in an arm, a transaction in a manner almost all districts TX adapt assessment to the estimated value of the sale lowest of the past, when the property changes hands.
To estimate more accurately how high your taxes are shared by the tax estimate and actual application of this percentage to the selling price. You will change your tax bill in your pocket next year.
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