Amid high property taxes and soaring housing prices, it is becoming more difficult to buy a home in Dallas, according to a report by CBS News Texas:
“Zachary Marshall said finding a home in Dallas he could afford wasn’t easy.
“‘It was super frustrating,’ he said. ‘It took five months to get it done.’
“In total, Marshall and his partner bid on five houses.
“‘Three of them sold for over $50,000 – $75,000 over asking,’ he said.
“He said mostly, they were competing against developers.
“‘That’s who we were fighting with on this one, who wanted to come rip it down,’ he said. ‘Those companies have the funds to beat us out… or a single mom with four kids..literally anyone.’
“According to the Dallas Housing Coalition, Dallas has become unaffordable for many residents. The median income is just over $58,000 and the average home price is just over $400,000.
“The organization represents more than 200 organizations working to fix the problem. They shared the latest data and strategies during a panel discussion. Property tax was one of the topics.
“‘If you are a current homeowner, I would say first of all make sure you have a homestead exemption,’ Lisa Neergaard said. ‘That’s going to be your first and best route to securing exemptions and lower taxes.’
“‘If they can get their tax profile correct and their title worked out properly, that opens up all sorts of resources at City Hall, and for other grants and funding opportunities,’ Toler Company’s Toby Toler said.”
To read the entire article by CBS News Texas, please click HERE.