Find out what you need to know about property taxes before you buy.
When you are looking to buy real estate, it is not just where ( such as Fredericksburg) and what kind ( a home, ranch or acreage), but also how much (money) do you plan to spend. One important thing to keep in mind are the property taxes.
Here are some questions you need to ask:
1. What is the assessed value of the property? Note that assessed value is generally less than market value. Ask to see a recent copy of the seller's tax bill to help you determine this information.
2. How often are properties reassessed and when was the last reassessment done? Generally taxes jump most significantly when a property is reassessed.
3. Will the sale of the property trigger a tax increase? Often the assessed value of the property may increase based on the amount you pay for the property. The city of Fredericksburg and Gillespie County has recently begun to more frequently reassess properties when a sale occurs.
4. Is the amount of taxes paid comparable to other properties in the area? If not, it might be possible to appeal the tax assessment and lower the rate.
5. Does the current tax bill reflect any special exemptions that you might not qualify for? For example, many tax districts offer reductions to those 65 or over. Gillespie County allows the Fredericksburg School District tax rate to become fixed when a citizen reaches a certain age.
Moving to the Texas Hill Country and especially Fredericksburg is a dream many share and many have realized this dream through careful and informed planning. Spend a moment to look through some of the other information available in our FAQ list; you might find more questions worth asking!
Sincerely,
Brett A. Bruster, MBA, e-PRO, SRES, ABR
Realtor Associate
CC Herber Co., Real Estate
145 E. Main St.
Fredericksburg, TX. 78624
Brett@brettbruster.com
(830)997-4323 Office
(830)997-8258 Home
(830)456-6243 Cell
For more information about Fredericksburg and Texas Hill Country real estate, visit our Frequently Asked Questions or Links page.
