Despite Low Tax Rates Property Values Continue to Rise in North Texas

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Many North Texas cities are planning on lowering their tax rates for 2019; however that doesn’t necessarily benefit property owners. The tax rate may be lower but with the rise of property values the property taxes aren’t any better than they were before.

According to Dallas News, residents in almost every city will pay more property taxes to local governments in 2019 than they do now. Property owners will be responsible for lowering their own taxes unless they hire consultants.

An effective tax rate is required by Texas for each city to compare with others. The rate is calculated if the entities took in the same amount of tax the current year. Dallas has the highest tax rate compared to surrounding cities in North Texas.

Most North Texas cities think they are fooling property owners into believing they are doing them a favor by lowering the tax rate but the rising property tax values tell another story. However there are a few cities that make a generous tax reduction that benefit the property owners.

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