WildBill wrote:But a change in ownership requires the new owner to pay higher taxes the next year based on the new sales price, correct? That is my point.sunny beach wrote:Property taxes are paid for a full year in Texas. A change in ownership doesn't require paying for the same year twice.WildBill wrote:My parents bought their house for $10,000 and paid property tax based on that value. When my mother died the house was worth $650,000. That was below the one million for the death tax, so we didn't have to pay that, but we did have to pay property tax on a $650K house, rather than a 10K house.
In my dealings with real estate and property, you are charged based on the county assessed value. There is no connection between the sale price and the county figure unless you protest and use that to make your case. The county is not supposed to have access to the actual sale price. The county recorded deed says "10 and no/100 dollars"