? asked in TravelUnited StatesHouston · 1 decade ago

Tax question......(live near Houston... Harris County)?

I have found a house that I am wanting to owner finance. The home is appraised at $118,000 but he is asking $125,000. The only thing that is holding me back is the Taxes. They are $3194.00. The question is....He does not have the house homesteaded. It is listed as a rental property. I am wanting to know if anyone knows if the taxes will be lowered when we buy it and homestead it. I plan on calling tomorrow but I am very anxious and would like some good news if there is any. It is in Pasadena tx but Deer Park ISD. Thank you

5 Answers

  • 1 decade ago
    Favorite Answer

    First off the market Value of a home is completely different than the Appraises value for taxation. Appraisals district usually value the home 10% to 20% lower than market value only to avoid angry tax payers complaints and to make the tax payers feel they are getting a great deal and avoid protesting.

    Homestead exemptions will lower the taxable rate as far as the amount you would need to check with each tax entity to see what they offer for their exemptions. You will only qualify for the exemption if the owner deeds the property in your name. Most times "owner finance" the owner will not do so until the property is paid in full. You are much better off getting a loan and paying for the house.

    Source(s): Personal and Business Property tax experience over 15 years.
  • 1 decade ago

    Yes. Homesteading DOES lower taxes. Call the Harris County Appraisal District with the address in hand to see what your taxes would be with a Homestead Exemption put into place.

    (713) 957-7800

    That is the number you need to call to talk to someone at HCAD.

  • 1 decade ago

    Yes -- Homesteading it will help a lot...but next year. You have to live in the house January 1.

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    4 years ago

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  • 6 years ago

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