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Houston Property Tax - Why Houston Property Tax Is So HighHouston is the capital of Texas and is located in the heart of the USA. The unique fact about the state of Texas is that it does not have any personal income taxes. That sets it apart from other states in the US of A. What counts bad for Houston is the fact that it has the highest property tax rates in the US of A? Statistics reveal that on an average Houston Property Tax is about 5-6 times the average of property tax across the US of A. The high property tax rate in Texas can be attributed to two reasons · High prices of property – In Texas, the buying cost of an apartment is costlier than the rest of the USA. · High Property Tax Rate – The local government of Texas has fixed the property tax rate at a higher slab than in the other states of the USA. The higher property tax rate means a person has to pay higher than what he could have paid if he owned a property in NJ. Property rates in and around Houston and Harris County clock at an average of 3% of the assessed property value. This means if you own a property worth $100,000, you may have to pay $3,000 as the property tax annually. Worst to follow, the steep property tax to be paid in Houston inhabitants on their property does not mean they get a leverage in their property tax payment. If they default on the taxes, they would be sent a Tax Lien notice, as is the practice with other states. Why are the property taxes so high in Houston? Houston is a comparatively cosmopolitan city with extremely posh and sophisticate locales. It is this cosmopolitan nature of Houston, which drives the property tax upwards. Although there do exist laws that cap the annual increase in property tax, this is not particularly heartening to the homeowners who see their annual tax bill climbing ever higher. While local legislatures do fret that the increasing taxes are a discouragement to those considering relocating to Houston, they have so far done little about it, as the cost of municipal services to the community still need to be met. It is finding a way to do both that continues to present a challenge that they are yet unable to find a solution for. Nevertheless, Houston Property Tax is not a stand-alone phenomenon. Property taxes have gone for an over-drive in the whole of the USA. What really makes Houston stand out from the crowd is the fact that its property taxes have hiked by over 10% for the last couple of years at least? And were it not for the fact that housing prices are generally on the decline, this 10% hike would not seem so painful. But while they are on the decline, property taxes continue to rise and knowing that Houston in not alone in this is probably not a big comfort when the Houston Property Tax Bill comes due . |