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There was a tax assessment story on the evening news here just last night, regarding Dallas county. I live in the county just west, (where Fort Worth is located,) and the story was the unfair (very LIGHT) burden of property taxes paid by multi-million-dollar homeowners.

Texas state law does not require home sale prices to be published, so in many cases, confidentiality agreements are part of the sale process at closing, to keep the sale price private.

Since the county doesn't get those figures for valuation purposes, the news story used examples of homes currently on the market. In some cases, the county's assessment value was as little as 20% of the asking price. Really chaps my hide, when our valuation sits at about 90% of market (or reasonable asking) price.

So someone in a $2,000,000.00 home can be paying taxes on only $400,000 worth.

I'm all for protecting privacy, but not at the expense of fairly distributing the property tax burden.

MadamHusker 1

~ Yeah, I know there are plenty of loopholes and write-offs for the super-rich on the IRS side too.
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