Apr 16, 2024 - News

Texas property bills still climbing

Change in median property taxes, 2019 to 2023
Data: CoreLogic analysis; Map: Axios Visuals

Median property taxes in Texas rose 26% between 2019 and 2023, data shows, even as local and state governments took steps to reduce the impact.

Driving the news: The protest process for properties in the Dallas Central Appraisal District started yesterday and ends May 15.

The big picture: Homeownership is growing costlier nationally, partly due to pandemic-fueled price growth.

How it works: Property taxes are based on a home's assessed value and the local tax rate.

  • Money collected through property taxes supports schools, roads, emergency services and other public services.

State of play: Nationwide, property tax bills are steeper after U.S. home prices surged nearly 40% during the pandemic, according to a recent CoreLogic report.

  • Median property taxes on U.S. single-family homes rose from $2,367 in 2019 to $2,877 in 2023, per CoreLogic.
  • The median property tax bill in Texas in 2019 was $3,900, according to the latest data CoreLogic shared with Axios. The median was $4,916 in 2023.

Zoom in: The average taxable value of homes in Denton County increased from roughly $402,000 in 2022 to roughly $449,000.

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