The Smart Asset report shows Conroe is ranked at number 16 with an average household mortgage of $114,220 compared to median annual property taxes of $5,866, meaning the community has a median property tax burden of 5.1% of income.
Economist Vance Ginn says this has longtime been a Texas problem starting with local lawmakers. “This report speaks to me in what we in Texas already know here, is that we have a property tax problem- where these taxes are becoming a larger share of their income. In particular, the local governments should start to reign in their spending, so they don’t have to tax so much at the local level.” Ginn said.
The economist says the excessive spending is being used for art projects and some of the schools are paying for water parks – things that shouldn’t be used for taxpayer dollars. He says the state has tried to implement guidelines to offset the high costs- by raising the homestead exemption and reducing some of the property tax right with surplus money.
“What hasn’t been done is to put strict limitations on how much property taxes can increase year over year. In fact, if they want one additional dollar, they should have to go to the voters, to raise it.” Ginn said.
Pearland, south of Houston, ranks at no. 21 with a tax burden of 5 percent, faced with median annual property taxes of $8,251, compared to an average median household income of $166,351.
The Woodlands also stands out, Smart Asset found. If you look solely at median annual property taxes paid, the township in Montgomery County ranks No. 1 in Texas and No. 7 in the U.S. — with a median annual outlay of $8,734.
Houston ranks No. 101 on the Smart Asset list this year, with a median property tax burden of 4.1% of household income.
Ginn says now is the time to zero in on your property taxes that are due, typically in Texas by January 31st. Be sure to review your appraised value is and you can appeal it. There is a link posted on the notice, and you will need to respond to your local county tax assessor- collector office.