Texas Property Tax Assessment.

General Real Estate Investing
1

I am looking to purchase an office building in Fort Worth Area in Tarrant County . The assessed value is $1M, the Sale price is $1.5M. Will the assessment change to the purchase price automatically like it does in CA and AZ or will the assessment increase at a typical annual rate.

Any information would be very helpfull.

2

Texas is a non-disclosure state. The title companies are not required to disclose to the taxing authorities. However, the assessed value will increase, eventually. We see lag times range from 1-3 years.

Also, historically, tax values are about 60-75% of actual market value in Texas, generally speaking.