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Friday, November 15, 2024

Effective property tax rate in Dallas County outpaced the national average in Q3 2023

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Property owners in Dallas County paid 3% of the value of their homes in property taxes in the third quarter of 2023, which is more than 2.7 times the national average, according to the real estate analysis posted by SE Dallas News.

The median sales price of a Dallas County home in the third quarter of 2023 was $201,320, based on data from the 5,598 properties sold during that time. In 2023, the median tax bill for the county was $5,932, which is 3% of the median value of the homes that were taxed.

This is 2.7 times higher than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Dallas County real estate data showed homeowners in Highland Park and University Park paid the highest rates.

The above article calculates the effective property tax rate for 2023 using estimated inflation values and 2020 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

The following table compares Highland Park with some other cities belonging to Dallas County by their median effective property tax rate, calculated using sales and property tax data from the third quarter of 2023.

CityQ3 2023 SalesQ3 2023 Median PriceMedian tax 2023Effective tax rate
Highland Park22$1,360,390$46,5363.4%
University Park48$1,164,975$39,6093.4%
Addison27$319,860$10,5123.3%
Lewisville4$263,615$8,7303.3%
Mesquite402$157,675$5,1363.3%
Sachse39$242,370$8,0583.3%
Cockrell Hill5$122,240$3,8783.2%
Cedar Hill146$194,820$6,1063.1%
DeSoto177$208,210$6,5283.1%
Duncanville104$176,225$5,4663.1%
Garland667$188,000$5,9203.1%
Grand Prairie290$167,135$5,1673.1%
Richardson266$263,670$8,1083.1%
Rowlett161$243,000$7,5853.1%
Farmers Branch81$232,290$7,0743%
Glenn Heights13$185,970$5,5263%
Lancaster68$179,985$5,2922.9%
Balch Springs51$138,890$3,9222.8%
Carrollton108$246,675$7,0122.8%
Seagoville19$146,040$4,0672.8%
Sunnyvale11$413,700$11,3862.8%
Coppell127$454,800$12,1022.7%
Dallas2,475$203,420$5,4572.7%
Irving272$232,330$6,2522.7%
Hutchins3$185,290$2,7631.5%
Wilmer11$176,750$2,3621.3%

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