Question: 1. Locate the "Resources" option on the top of the computer screen. Then click on the "Rates" option on the left side of your screen. From the next screen that appears, select the "2017 Tax Rates" option. If you choose to print the tax table, it will be approximately 2 pages in length. (NOTE: Property tax rates in Texas are assessed per every $100 of property value. Be sure to include all decimal points given in the tax rate when you do your calculations.) The taxing jurisdictions are listed by the type of local government and somewhat in alphabetic order. The number in the "TDC" column might not match the number provided on the account page for the selected property, so it is best to look for the tax rates by jurisdiction name only.
2. Return to the home page of the Tarrant Appraisal District.
3. Locate the "Property Search" box on the left side of the screen. Click anywhere within that box. Select ONLY the "Residential" box, and search for properties by either the owner's name or the property address.
4. If using the owner's name, type last name, first name. If searching by address, be sure to omit any reference to street, drive, avenue, etc. from the search box - use just the street name.
5. Choose any 3 privately owned households DO NOT use business properties, apartment complexes; select only single-family dwellings. (To make the assignment more interesting, please select properties that are located in different cities and different school districts. You might even want to look for properties in unincorporated areas.) The account page for each property will indicate every local government authority that assesses a property tax on the property. For this assignment, please do not identify the property owner.
6. Refer back to the tax table you located in the first step. Calculate the individual tax bill for each taxing authority (city + county+ ISD + hospital + college + any additional special districts as noted on the account page). Then add up these individual tax bills to determine the total property tax bill for each of the properties you select. For this assignment, ignore any exemptions for which the property or property owner might be eligible. Look briefly at the history of appraisal values for each property you select. You will need to comment on this information as part of your written analysis for this assignment. As a potential homebuyer, one would want to see if the neighborhood being considered is experiencing increasing, stable, or decreasing property values.
Formula for calculating property tax bills:
1. Divide the most recent appraised value of the property by $100. (Since tax rates in Texas are assessed for every $100 of property value, this calculation will give you the number of "taxable units".)
2. Multiply the number of "taxable units" by the tax rate. This will give you the tax bill for the selected property for that particular unit of local government.
3. Repeat the calculation for each level of local government (city, school district, Tarrant County, Tarrant County College, Tarrant County Hospital, and other special districts as appropriate).
Your completed assignment should include ---
• The street address and city of the 3 selected properties.
• An itemized tax bill showing the tax rate for each taxing authority and the specific tax levied on each property.
• The total tax bill for each selected property (city + school + county + other special districts.)
This information can be presented in a table format.
• A written paragraph stating what you have learned from this assignment about property taxes and property values.
To receive full credit, students must complete all portions of the assignment.
There is no expected minimum word length for your written analysis.