Thank you so much for this video. That website was invaluable- I am purchasing out there and someone was trying to tell me my taxes would be way higher based on area and told me to go to a different area but after evaluation that was proven untrue and the recommended area would be more!
it depends where you live in El Paso. I lived in The Ridges and we paid 3.4% of our assessed value which was $340,000 and I paid $11,560 that year for that house. If your house was $400 K than even more. It depends where you live in El Paso. So do the home work first.
Thank you for this very informative video. We are relocating to El Paso and this video gave us a better understanding of the property taxes we will be paying and who they are going too. In regard to fair market value and appraisals. With the housing market booming right now, and home prices significantly higher then they were a year ago, are appraisals equaling the house prices, especially with the bidding wars driving up the prices.
I pay close to $4k a year for property taxes and they keep going up every year. I, like many other people I know are considering moving to New Mexico! Important to know before you make the move.
@@LivingInElPasoTexas I hear there's another big increase in taxes rolling out this year. I have a small house, if I end up paying $5k a year in taxes, I will be calling you! Thanks!!
What is the maximum amount percentage wise that property taxes can increase by on a yearly basis? I've heard it's 10% and if that's the case then potentially in 5 years property taxes could be 50% higher than current levels. That's as much as the mortgage payment for a lot of homeowners.
There is no income tax. Cost of living is cheap. The city is currently working to diversify the tax base. For example the amenities being developed is to bring tourist dollars.
I live in the Bay Area. My property taxes are more than $1000 per month. My state income taxes are significantly more than that per month. My house is not as nice as one you could get for $400k in El Paso despite costing about 3x that.
@@patrisio3 True. But the point of my statement was that there is more to consider than just the property tax percentage. If the homes cost 3x as much, you still end paying the high property taxes despite having lower taxes on a percentage basis. Plus you have a 12.3 percent marginal state income tax.
Living in El Paso is getting more expensive all the time. 3% sales tax per year is steep. Migbt have moved our target area North of Anthony! If I want to be overtaxed I could move to California. Now thankfully, we can be overtaxed in El Paso too. This might just effect future home sales in E.P.
I'm nearing retirement and am considering El Paso for the sun, and cheaper cost of living. However, I'm also looking at Tucson, Arizona and even though Tucson has a higher cost of living index, my property taxes would be considerably less in Tucson.
Hello Jen, Home insurance is pretty affordable due to the fact that we have no blizzards, hurricanes, tornadoes or floods here! Thank you for the comment.
I loved the area. but Property Taxes there will kill you, it depends where you live in El Paso. I lived in The Ridges and I paid 3.4% of our assessed value which was $340,000 and I paid $11,560 that year for that house. If your house was $400 K than even more. It depends where you live in El Paso. So do the home work first. I could not afford to retire there. I had to sell and move back to Michigan where the taxes are 30% of the Taxes in El Paso. Been looking at moving to the Padres. Just looking.
Minimum wage in El Paso Texas at $7:25 :For retirees with time you'll be taxed out of your own property??? Up up & up☝ ( fixed income)💲🙈💲100K 3000$ a yr $250 mo.Taxes
Thank you so much for this video. That website was invaluable- I am purchasing out there and someone was trying to tell me my taxes would be way higher based on area and told me to go to a different area but after evaluation that was proven untrue and the recommended area would be more!
That was absolutely super informative! Great job John.
That's crazy. I did not know that... So, a $400,000 house has a tax bill of $1,000 a month...? Damn.
it depends where you live in El Paso. I lived in The Ridges and we paid 3.4% of our assessed value which was $340,000 and I paid $11,560 that year for that house. If your house was $400 K than even more. It depends where you live in El Paso. So do the home work first.
Thank you for this very informative video. We are relocating to El Paso and this video gave us a better understanding of the property taxes we will be paying and who they are going too. In regard to fair market value and appraisals. With the housing market booming right now, and home prices significantly higher then they were a year ago, are appraisals equaling the house prices, especially with the bidding wars driving up the prices.
Move to Santa Teresa NM. Less property taxes and better homes
Thakks for the info. Very helpful in understanding. The music was very annoying .
I pay close to $4k a year for property taxes and they keep going up every year. I, like many other people I know are considering moving to New Mexico! Important to know before you make the move.
Let me know if you want to sell your house...great time to sell!
@@LivingInElPasoTexas I hear there's another big increase in taxes rolling out this year. I have a small house, if I end up paying $5k a year in taxes, I will be calling you! Thanks!!
@@ajaime9372 I hope it doesn't come to that sir, I'm sure El Paso would miss you!
What is the maximum amount percentage wise that property taxes can increase by on a yearly basis? I've heard it's 10% and if that's the case then potentially in 5 years property taxes could be 50% higher than current levels. That's as much as the mortgage payment for a lot of homeowners.
My property tax went up more than 50% and there’s nothing to show for. Explain that please.
Good video man but that music in the background is terrible.
Do you have an updated recent video on this?
Exemptions 21:00
Thank you very much. You just saved me some money.
I was planning to buy a home in Texas but looking to all those properties taxes compared with California the Bay Area 🤔
There is no income tax. Cost of living is cheap. The city is currently working to diversify the tax base. For example the amenities being developed is to bring tourist dollars.
I live in the Bay Area. My property taxes are more than $1000 per month. My state income taxes are significantly more than that per month. My house is not as nice as one you could get for $400k in El Paso despite costing about 3x that.
@@patrisio3
True. But the point of my statement was that there is more to consider than just the property tax percentage. If the homes cost 3x as much, you still end paying the high property taxes despite having lower taxes on a percentage basis. Plus you have a 12.3 percent marginal state income tax.
My tax is higher than my payment for the house principal
Very valuable information; thank you John!
Explain how they play around with Property Taxes.
Living in El Paso is getting more expensive all the time. 3% sales tax per year is steep. Migbt have moved our target area North of Anthony! If I want to be overtaxed I could move to California. Now thankfully, we can be overtaxed in El Paso too. This might just effect future home sales in E.P.
This is what they should teach in school.
So a $350,000 house will have a $10,000 a year tax debt?
I'm nearing retirement and am considering El Paso for the sun, and cheaper cost of living. However, I'm also looking at Tucson, Arizona and even though Tucson has a higher cost of living index, my property taxes would be considerably less in Tucson.
True, it's a tradeoff. Have you visited both El Paso and Tucson to see which one you like better?
@@LivingInElPasoTexas I've only been to Tucson, and I did like it.
Do you pay Texas state property tax as well?
Very informative
How is the home insurance?
Hello Jen,
Home insurance is pretty affordable due to the fact that we have no blizzards, hurricanes, tornadoes or floods here!
Thank you for the comment.
I loved the area. but Property Taxes there will kill you, it depends where you live in El Paso. I lived in The Ridges and I paid 3.4% of our assessed value which was $340,000 and I paid $11,560 that year for that house. If your house was $400 K than even more. It depends where you live in El Paso. So do the home work first. I could not afford to retire there. I had to sell and move back to Michigan where the taxes are 30% of the Taxes in El Paso. Been looking at moving to the Padres. Just looking.
Can a senior get a property tax discount?
Absolutely if you're over 65.
On the over 65 do you have to live in the home, can it be a rental? Thanks juan
You have to own the home to qualify for the exemption.
I own,but rent the home. Do I still qualify if I live out of state. Thanks, your very prompt.
@@pablohernandez1159 I am not 100% sure Mr. Hernandez. I suggest you call the county appraiser at (915) 780-2000.
What time of year do you have to pay the property tax? Is it every year on the date that you purchased it or a specific time of year for everyone?
@@noteem5726 "Property tax bills are mailed out every October and the payment is due by January 31st. Taxes become delinquent on February 1st."
Minimum wage in El Paso Texas at $7:25
:For retirees with time you'll be taxed out of your own property??? Up up & up☝
( fixed income)💲🙈💲100K 3000$ a yr
$250 mo.Taxes
You forgot to feed the people who doesn’t want to work god bless them , handicaps are excerpt from this message
Your $5000 homestead exemption: Don’t you have to be 65 y.o.?