This means that the various local governments to which you pay property taxes cannot assign different values to your property all must use the same value. Each property in a county must have a single appraised value.This means that the land is taxed based on the value of what it produces, such as crops and livestock, rather than its sale value. The Texas Constitution provides certain exceptions to this rule, such as the use of “productivity values” for agricultural and timberland. That’s the price it would sell for when both buyer and seller seek the best price and neither is under pressure to buy or sell. Generally, all property must be taxed based on its current market value.This means that uniform appraisal is very important.

If, for instance, your property is worth half as much as the property owned by your neighbor (after any exemptions that apply), your tax bill should be one-half of your neighbor’s. The property taxes you pay are based on the value of property you own. No single property or type of property should pay more than its fair share. The Texas Constitution sets out five basic rules for property taxes in our state: What are my rights under the Texas Constitution? The County Assessor/Collector collects the taxes from the property owners and distributes the funds to the local taxing units. These entities use that data to set their budgets and the property tax rates.

Once these values are certified, the Appraisal District provides that information to the local taxing units. Any disputes with an appraisal that cannot be agreed upon between the property owner and the Appraisal District are settled by the Appraisal Review Board.

The Appraisal District appraises the value of your property each year. Who is responsible for setting Property Taxes? These entities spend the collected funds on schools, roads, hospitals, police departments, fire departments, and other programs. You pay your property taxes to the local tax collector, who then distributes funds to the entities that have jurisdiction over your property (schools, cities, and other local governments). Property taxes are taxes that are assessed, collected, and used locally. Frequently Asked Questions About Property Taxes Property Tax What is Property Tax?

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