Property Tax Ups & Downs

Property taxes in Deer Park are going up in 2020, but not as much as you might think. Adjusted for inflation your taxes are actually going down.

Deer Park’s Ad Valorem (Latin for “according to value) property taxes will be raising 1% in 2020; 1% is the maximum this tax is allowed to be raised per state law. As clarification, this is 1% of last year’s total property tax collected, not 1% of property value. According to the Bureau of Labor Statistics, inflation for 2019 was 2.1%.

Here are some additional facts:

  • The total property tax for Deer Park collected in 2019 was $454,335.93 
  • For 2020 the property tax amount will increase by $4,543.36 
  • City wide inflation on the total collected in 2019 is $‭9,541.05
  • The total city budget for 2020 is $17,342,971.00
    • Most of these funds come from grants and other sources of revenue that are earmarked for specific projects and departments within the city
  • In order for Deer Park to raise the annual budget to keep up with inflation, the city could, in essence, ask voters for permission to raise the tax beyond that 1%. There is also a provision to go above that 1% increase for recently developed or improved parcels of land
  • It is estimated that a dedicated police force in Deer Park will cost around  $1-1.5 million annually

For more information check out these links: accessed January 4th 2019

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