1. If the overall real estate values in Rowlett's tax base goes up 5%, and the city doesn't change the tax rate, I get a 5% reduction in taxes. Wrong. Your out of pocket taxes went up 5%.
2. If the appraisals of the tax base goes up 5% and the tax rate goes up 5%, I get a 5% raise in taxes. Wrong. You get a 10% raise in taxes.
3. If the appraisals of the tax base goes up 10% and the tax rate goes down 5%, my taxes didn't increase. Wrong. Your taxes went up 5%.
4. If you are told your tax rate is only going up 5%, you haven't been told the whole story. About 1/3 of the residential tax base is increasing about 10% every year......or should be. Therefore, the aforesaid 5% plus the year you get the 10% raise in the appraised value of your home, you just got a 15% increase in your taxes.
5. Your real estate was appraised at 10% higher, but the tax rate was cut 5% so my taxes went down. Wrong. Your out of pocket taxes went up 5%.
You've got to look at tax rate and tax base together to get a clear picture of your out of pocket tax expense.