A lot of what svelte mentioned is what I was going to echo last night. That development is right next to a very active park. Its a neat park with splash area, slides and stuff, sports field and frisbee golf.
The neighborhood sits on the edge of the the notable areas mentioned above as well as a lot of commercial space. The tax rate is unfortunate, as I assume you have HOA and MR. Look at the surrounding area prior to your purchase and consider that the neighborhood you are looking at right now is the nicest in the area. Everything surrounding it is not as nice and while they may eventually build homes that are higher end, its not a given.
I guess my question to you would be if you are willing to pay that tax rate, why not look at other areas in San marcos that have come down quite a bit like Discovery hills, SEH, old creek ranch etc. These areas arent on the edge of the rougher areas and have all the amenities you are looking for. There are places off craven with no HOA in the low 400s (a bit older). There is a1800 sq ft on kenwood in SEH for low 400s. Another area is east a bit off barham. I dont know the area but next to Lake moree park there are some cheaper homes in your price range.
I hope that nursery doesnt go away. They have a fantastic selection, good pricing and are very helpful.