At the beginning of every year, your property taxes are assessed based on the value of your home, but where does that money go? At Home Tax Solutions, we want you to be informed about how your tax dollars are being spent. Here is the general breakdown of how Texas property tax is distributed by the state government.
Hospitals — Hospitals and local healthcare also receive a partial percentage of your Texas property tax revenue. If there is a higher density population or a greater number of healthcare facilities in your city, an increased percentage of your tax dollars could be allocated to these industries.
Public Schools — On pretty much every property tax bill, the most significant single line item goes directly to public schools, both at the community college or preparatory level. Great education comes with greater property taxes; often more than 50% of your taxes are utilized for education. Essentially if there is a local obligation to providing an exceptional education or a dense student population in your area, your property taxes will be higher.
Amenities and Services — Along with schools, another thing that can have a positive impact on property value is local services and other crucial community necessities. Most would agree that things like the police department, libraries, the fire department and general public safety are essential and worth their property tax cost.
If you are struggling to pay your Texas property taxes, Home Tax Solutions can assist you. Now the industry-leading property tax lender, Home Tax Solutions was founded to help alleviate the concerns and anxiety associated with unpaid property taxes. It is our goal to lighten your financial burden and we will always work with you to ensure that you never lose a property. We offer 0 payments for the first 12 months and have never foreclosed on a property. Call us today to get started.