When you're considering exchanging your PEI real estate for a new place in Austin, Texas, the sale price of the home is only the beginning of a long list of costs that you will need to take into account when making up your budget. There are also fees from real estate agents, mortgage fees, and utility hookups to consider. But the second most important figure you'll need to take into consideration is your property taxes. This article will give you some advice on budgeting for your annual property taxes.

The location of your property and its value are the two determining factors that go into estimating your property taxes. You cannot assume the taxes on your new Austin home will be similar in value to the taxes on your old Bloor West Village real estate because Toronto and Austin have different rates of taxation. Even within Austin there are several divisions depending on whether you're in the independent school district, the community college area, or the city of Austin.

By looking up the percentage rate of taxation in your area of Austin and multiplying it by the sale price of the home you're considering, you can get a pretty good idea of whether the sale of your Toronto Beaches real estate will allow you to afford the taxes on the property. As of 2010, the rates of taxation per $100 in value for the various areas in Austin were as follows: Austin Community College - .00951, Austin Independent School District - .1227, City of Austin .4571.

These are only the base rates, however. In putting up your Newmarket houses for sale and buying Austin property instead, you may qualify for special exemptions. Check Travis County's website www.traviscountytax.org for specific details on how to qualify for exceptions, but generally speaking, most areas offer homestead exemptions up to a certain value, as well as exemptions for seniors over 65 and people who are disabled.

It's important to remember, however, that your estimate will remain just that - an estimate - until you've actually moved from your Whitby, Ontario real estate into Austin and the property assessor from Travis County has come around to do a valuation on your property is worth. Valuations usually try to get as close to market value as possible, though, so your estimate should be close enough that you won't be bowled over by your tax bill when it arrives during your first year of living in the house.