Do you pay taxes on purchase price or appraised value?
21,538For example, if I buy a house for $100,000, but it's tax appraisal is $80,000, would I pay taxes based on what I paid for the house or based on the tax appraisal?
3 answer(s)
About 10 years ago
Both these agents are correct. Don't forget that your assessment may go up after purchasing a home.
Like (3)
Dislike
#1 Awarded – Best AnswerAbout 10 years ago
Veronica is right on!
You pay taxes on what the county assesses your home at. You can utilize a realtor or an appraiser to assist you when the values are reassessed by the appraisal district.
I would make sure that you check with your realtor or an appraiser before purchasing a home the county has assessed for considerably less than you are paying. You definitely don't want to overpay for the neighborhood/area.
My husband and I own an appraisal company as well as being in real estate sales. Contact me if you need anything, I'm happy to help!
Darby Grimmett
Keller Williams Realty
936-827-9217
darby@darbygrimmett.com
You pay taxes on what the county assesses your home at. You can utilize a realtor or an appraiser to assist you when the values are reassessed by the appraisal district.
I would make sure that you check with your realtor or an appraiser before purchasing a home the county has assessed for considerably less than you are paying. You definitely don't want to overpay for the neighborhood/area.
My husband and I own an appraisal company as well as being in real estate sales. Contact me if you need anything, I'm happy to help!
Darby Grimmett
Keller Williams Realty
936-827-9217
darby@darbygrimmett.com
About 10 years ago
The property taxes are calculated based on the county assessment of tax value.
It is important to keep in mind the county tax assessment of value is just that, an "assessment" for the purpose of calculating taxes.
The county assessment is not an "appraisal".
It is important to keep in mind the county tax assessment of value is just that, an "assessment" for the purpose of calculating taxes.
The county assessment is not an "appraisal".
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
2 answers
Saved
