How residential property tax is calculated
Our residential appraisers use 2 value methods:
- Sales comparison approach: Compares your property to sales of comparable properties.
- Cost approach: Estimates the replacement cost of the new structure or structures. It then subtracts depreciation and adds the land value.
Then, we calculate your tax based on the following:
- The assessed value of your property
- The total taxable property value in your community
- Voter-approved measures
- Budgets adopted by your local governments
The final amount depends on the cost of state and local government. Your taxes help fund schools, roads, parks, libraries, hospitals, and fire districts.
An increase in property value doesn't represent a dollar-to-dollar increase in property taxes.