Property Tax News: Texas Ranks Fifth of U.S. States with Highest Property Tax Burdens

In Texas, we do everything big. That’s our state’s motto, and we stick by it… even when it comes to property tax burdens.

This year, Texas ranked as the fifth highest state with the biggest tax burden. In front of the Lone Star State is Illinois, New York, New Hampshire, and New Jersey.

According to CoreLogic, the leading provider of consumer, financial, and property analytics reports, this amount is 70 percent higher than the nationwide average of 1.3 percent.


What A Higher Tax Burden Means for Texans

Property taxes in larger states is always a sore subject amongst homeowners and business owners, and in Texas is no different. However, the state does not have state income tax and relies heavily on property taxes for revenue. So, what does this high tax burden mean for Texas homeowners?

CoreLogic breaks it down with this example:

“Across the country, a homeowner with a property valued at $200,000 will pay $2,620 a year in property taxes. In Texas, the bill on that same value house would be over $4,300.”

Year after year, Texas continues to rank high in property value. This means that not only do Texans have to worry about the extreme real estate market being at an all-time high due to more people relocating here, but also their property tax bill rising once they are in the home.

Experienced Property Tax Consultants in Dallas

Property assessments have gone out, and by now you have a clear understanding of what your home has appraised for and the amount of property tax assessed on it. If you feel your assessment deserves and appeal, you will need an experienced property tax consultant.

As former county appraisers, the team of experienced property tax consultants at Hegwood Group understands and is committed to helping our client’s lower their property tax expense.

If you need property tax consulting help in the DFW, contact Hegwood Group to get started.

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