Property Tax

**Panterro** · 03-13-2008, 01:17 PM

I went to Sperlings today to compare property tax rates in Texas.

I was shocked to find out that El Paso, a low income city pays the highest property tax in the state.

El Paso TX pays $21.44 per 1000 assessed value of your home. All homes in the city recently went up 1.98% in value regardless of the shape the property was in.

My Grandmothers house the one I was willed was bought at 24 thousand back in the 60's. It is now worth 74 thousand. So if you do the math..

$74,000 or 74 x 22.44 = $1660.64 in taxes every year. That number is expect to grow another 1.98% next year.

Now most of the new homes being built in El Paso, range in the 90k to 260k range with the majority in the 175k range.

So your looking at the new home buyer paying $327.25 a month on top of your home payment each month at the 175k price. That does not include any insurance or other bills. Now this is a city that pay minimum wage for most its jobs, and only like 12% are in the higher level pay range to pay these prices..

A Realtor I spoke with the other day said lots of California business men/women are buying these houses and renting them for a high sum. What happens when the bottom falls out here.. what then?

How do they expect a city like El Paso to pay such an outstanding property tax?

**T.S.** · 03-13-2008, 08:55 PM

Texas seems to have high property taxes all over. $21.44 per 1000 is very high, especially for a place like El Paso.

03-13-2008, 01:17 PM	#1 (permalink)
Panterro TEXAS ***** ADVISOR Join Date: Jan 21st, 2007 Location: El Paso, TX Posts: 1,513	Property Tax I went to Sperlings today to compare property tax rates in Texas. I was shocked to find out that El Paso, a low income city pays the highest property tax in the state. El Paso TX pays $21.44 per 1000 assessed value of your home. All homes in the city recently went up 1.98% in value regardless of the shape the property was in. My Grandmothers house the one I was willed was bought at 24 thousand back in the 60's. It is now worth 74 thousand. So if you do the math.. $74,000 or 74 x 22.44 = $1660.64 in taxes every year. That number is expect to grow another 1.98% next year. Now most of the new homes being built in El Paso, range in the 90k to 260k range with the majority in the 175k range. So your looking at the new home buyer paying $327.25 a month on top of your home payment each month at the 175k price. That does not include any insurance or other bills. Now this is a city that pay minimum wage for most its jobs, and only like 12% are in the higher level pay range to pay these prices.. A Realtor I spoke with the other day said lots of California business men/women are buying these houses and renting them for a high sum. What happens when the bottom falls out here.. what then? How do they expect a city like El Paso to pay such an outstanding property tax? __________________ "No ma'am. We at the FBI do not have a sense of humor that we're aware of".

03-13-2008, 08:55 PM	#2 (permalink)
T.S. Member Join Date: Oct 12th, 2006 Location: MN to NC to FL to MN Posts: 713	Re: Property Tax Texas seems to have high property taxes all over. $21.44 per 1000 is very high, especially for a place like El Paso.

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