Are you missing out on this available tax break for homeowners

For those who have owned property for more than a year, you’ve been impacted by property taxes. Even though there is no state property tax in Texas, there is a locally assessed and locally administered property tax.

And if you’re a new homeowner, you may have received sticker shock when opening that first tax bill. Your locally assessed property taxes are based off the value of your home. That means, what you paid for your home at closing is the value for determining your current property tax.

If real estate prices in your area have went up since the last purchase (by the previous owner), your taxes may substantially cost you more than what the former owners paid.