Ready to buy a new home in Falls at Imperial Oaks? Moving from out of state? It’s important to know that property taxes in Texas are higher because we do not have a state income tax. Texas residents pay for schools, roads, infrastructure, and social services through property taxes.
That being said, Discover Spring Texas recently published a helpful article that explains the three components of our real estate taxes:
1) County tax – Homes in Spring Texas are located in either Harris County or Montgomery County. The county tax is composed of the county, county flood control, port of Houston authority, county hospital district, county education department, junior college district – Lone Star college system, county emergency service district – fire, and the county emergency service – ambulance. The 2015 tax rate for Harris County is approximately $0.850 and for Montgomery County it is approximately $0.748. The rates are for every $100 of assessed property value.
2) School District tax– Tax assessed by the school district that the property is located in. Homes located in Spring Texas are going to be in either the Conroe school district, the Klein school district, or the Spring school district. The 2015 tax rates for the Conroe, Klein, and Spring school districts are $1.28, $1.41, and $1.47, respectively. All rates are for every $100 of assessed property value.
3) MUD (Municipal Utility District) tax– MUDs are the political entities which provide water and sewer services to the majority of residential and commercial property owners who do not receive those services from the City of Houston. The MUD tax rates range from $0.00 to $1.40 per every $100 of assessed value. Some of our older subdivisions that were developed in the late 1970s do not have a MUD tax because the bonds have been repaid.
The total combined tax rate of 1) County + 2) School District + 3) MUD = $2.10 to $3.68 per $100 of assessed value. The average combined tax rate in the Spring Texas area is $2.90. For a home with an assessed value of $150,000, the property tax burden before homestead, over 65, or disability exemption would range from $3,150 to $5,520 a year. The school district and the MUD taxes combined represent 50% to 80% of the total property tax burden.
All of the tax rates for the current tax year are released around the October / November time frame.