Question regarding Prop Taxes

[IDFWU]

didn't want to hijack another thread but I had a question regarding property taxes.

Wife and I bought a lot in Comal County from a developer. I got the tax estimate statement and it was valued at 2X the value from the previous year.

I called the tax office and they stated that developers get a "deal" on property taxes. Thus when I made the purchase the tax value was adjusted to meet market value.

Does this sound right?

[aggie2000tx]

I would fight that myself

[Bisch]

What is the appraised value compared to the price you paid for the lot????

Bisch


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[Tubby]

The price the developer paid for the lot is less than what they sold it to you for.

They bought it for 20K, you paid 40K (using round numbers), so the previous years taxes are less than the current year's taxes. Property tax values almost always go up when land is sold because the paid prices is always more than what the appraised land value is.


Go to your county appraisal district website and research the neighboring properties/lots and compare land value with taxes. Print them out. Do your homework showing several properties near the same size as yours in the same location and appeal your taxes at the appraisal district office.

[BrianL]

Yes. developer buys land for much less, then adds roads, infrastructure, surveys off into smaller pieces....

[IDFWU]

What is the appraised value compared to the price you paid for the lot????

Bisch


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Within 10%.


I know the developer paid less but the county isn’t basing my tax on the price paid for the land....I’ve heard that was against the law...they are basing the tax amount t on the “ value” of the land, which didn’t go up 100% in a year.

[BrianL]

You should be able to take your current appraisal from when you purchased and get it adjusted to that value without much hassle.