This is correct. This year your taxes are on the 6k of land. Next year they will be on $140k of house. So make sure that you are escrowing/saving enough money. To be on the safe side, you will probably need about $6,000 if you are in or around Harris County. If you have any, you can use the extra to pay your homeowners association dues.llwatson wrote:Because your county appraisal district will not update the database until the next appraisal cycle. They appraised the unimproved lot, and taxed you on that. When they get back around to you again, they will appraise the improvements. Until then, be happy.dpatterson wrote:Still not understanding why the taxes are only showing 6k for the land only.
If you closed and moved in Feb and started paying on escrow in March and they only had $1,400 at year-end, they are WAY LOW in what your payment should be. It sounds like you should be paying about $400 more a month, so be prepared for 2007 taxes.