Dallas Metroplex Property Tax Help
When it comes to taxes in the DFW Metroplex, you can expect them to be higher than in other areas of the state. However, although property taxes in general in Dallas, Ft. Worth and Arlington tend to be higher, they are offset by the fact that Texas levies no state or local personal income taxes.
In fact, depending upon the level of your income and the value of your property, your total annual tax bill could be significantly less in the Metroplex than it would be anywhere else throughout the state. However, commercial and industrial property tends to be more heavily taxed in this area than residential property, as is typical throughout the entire state.
Dallas Property Tax Rate
The property taxes of the Dallas, Ft. Worth and Arlington areas are calculated by multiplying the assessed value of the property by the total combined mil rate that is levied by all the taxing authorities that have jurisdiction over the areas. For instance, in Dallas, the city’s tax rate is .80%, the school’s is 1.28% and the county’s in .66%, so the overall tax rate that property owners in the area are subjected to is 2.74%. Therefore, whatever values properties are assessed at are multiplied by this percentage to obtain the figure of how much property owners must pay on their properties in these areas.
DFW Property Assessment
Obviously, since the tax rates have already been set, the major factor that contributes to how much property owners end up paying in the DFW Metroplex depends on what the properties are valued at. Assessing property values is not always a clear-cut case, however. In fact, in many instances, it is quite controversial and debatable since oftentimes numerous subjective factors must be considered. For instance, assessing the value of commercial and industrial property is oftentimes much more complex than that of assessing residential property. Industrial equipment and machinery is complex, so assessing the lifespan and possible future revenue generation of such equipment can quickly become difficult, especially if the person assessing the property doesn’t have intricate knowledge of the equipment and machinery and how it works and degenerates over time. Additionally, the economic state, supply and demand and other independent factors must also be considered when assessing commercial and industrial property, further contributing to the difficulty of accurate assessment.
Assessment Technologies Experts
One fact is certain, though, and that is that the DFW Metroplex does impose property taxes on its businesses and residents. This doesn’t necessarily mean that you have to pay outrageous tax bills, especially if you believe that your property as incorrectly assessed. At Assessment Technologies, our experts go over your property and all factors affecting its value with a critical eye to determine the most appropriate value of the property. Additionally, we have experts who are specially trained at assessing difficult property like complex equipment and machinery to assist us with our assessment decisions.
If we believe that your commercial property has indeed been overassessed, then we can help you appeal the tax assessment, possibly lowering your tax bill both now and in the future. We’ll provide you with aggressive representation to get your tax bills lowered or even waived completely in some cases. We’ll also check to make sure that you’ve taken advantage of all tax breaks that you’re eligible for. If you’ve overpaid on your taxes, don’t worry because we can work on getting you a refund in the amount you overpaid. Additionally, we’ll provide you with all the statistics and documentation needed to back up your claims that your property was overassessed, and we’ll even provide you with tips to help you keep your property taxes as low as possible in the future.