Any Real Estate Attorneys Here?

[Longhornmaniac8 255]

Trying to figure out new build homes get taxed before they're appraised.

 

Travis County Appraisal District announced they aren't doing any appraisals in 2020, so I'm wondering what the implications are for my new home I'm building.

 

Is there a mechanism other than an appraisal to change the value of a homesite from a vacant to an improved lot?

 

Just trying to budget for closing and taxes for 2020. Based on what I've been told by my lender, I'm pretty much only going to pay tax on the value of the lot. Trying to confirm that with someone local and familiar with Travis County property taxes.

 

Any thoughts or recommendations on who to talk to?

[Gil Bang 26121]

I'm not a lawyer. And I'm in CA.  But here's how it's done out here, and I'd imagine TX is the same:

So, when you pull a building permit, the issuing agency will put a valuation on that permit, based on square footage.

Once your building is complete, and "signed off", the new valuation kicks in.  It's the same way for room additions.  You add square feet, it adds to the assessed value of the real estate.

[Catpfish 618]

Generally, new construction is taxed on percentage completion as of January 1st, based on whatever the basis the county assigns to the completion

[Sparky 149]

You might try here.

 

 

[bluto 4947]

Captfish is right. I’m in the p tax game and that’s how partial completes are valued, lot value plus whatever has been built as of Jan 1.

 

Your typical attorney, lender, agent, title company are total dumbasses when it comes to this kinda stuff