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'Unprecedented': Property tax bills have reached double value for Texas homeowners
Posted on 6/17/22 at 2:36 pm
Posted on 6/17/22 at 2:36 pm
quote:
HOUSTON, Texas (KTRK) -- Unprecedented rises in property valuations in Texas have stunned multiple homeowners receiving their tax bills.
quote:
Some Texas homeowners got the shock of property tax balances that are astronomically higher than what they paid last year. And according to one agency that protests the tax bills, some of those people say they can't afford to pay.
quote:
Shannon Nash owns four acres in Smith Point in Chambers County. In 2021, his property was valued at about $65,000. One year later, it increased to almost $382,000 in value.
"I was mostly just in shock," Nash said. "I called a number of people that I know around here and they were already in shock. They had gotten their bills before me."
In 2021, Nash owed about $1,700 in property taxes. In 2022, he will have to pay Chambers County more than $10,000.
quote:
A chief appraiser with Harris County, Roland Altinger, called the property valuation increases "unprecedented."
"In my almost 40 years, I have never seen such massive increases in market values," Altinger said.
According to Altinger, 95% of the county is seeing an increase in their property valuation by an average of 20%
Harris County is the largest appraisal district in the United States, meaning they cannot value each property individually.
Instead, a mass appraisal is used, in which groups like properties use data and statistical analysis to determine the valuations.
quote:
The challenge they face when fighting to lower the value is the difference between the appraised value and the market value. The appraised value considers homestead exemptions, which cap the increase at 10% yearly.
That determines how much a homeowner pays in taxes. Market values are determined by the amount the home could sell. In many cases, those numbers are different because of the housing boom.
LINK
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Posted on 6/17/22 at 2:37 pm to SPEEDY
No matter what happens and what breaks we catch here and there, the government always makes its money back one way or another.
Posted on 6/17/22 at 2:40 pm to SPEEDY
Yeah, but that no income tax though
Posted on 6/17/22 at 2:40 pm to SPEEDY
It’s even more fricked up now since “just sell and cash out” is more complicated due to the slow down and rise in interest rates
the actual % of the property tax rate should decrease to offset the extra revenue gained by this large increase in land values…doubt that will happen though
the actual % of the property tax rate should decrease to offset the extra revenue gained by this large increase in land values…doubt that will happen though
Posted on 6/17/22 at 2:45 pm to SPEEDY
It’s always dumbfounded me that someone that buys a home can get priced out of their own home down the line by the way the market changes. I understand raising property taxes marginally with inflation and cost of things like roads and schools, but even with homestead exemptions, the idea that you’re punished because your 3 bed 2 bath has artificially increased 600% is insane to me. No one should ever have to move because their neighborhood became more desirable.
Imo the only way it should work is that day you bought your home for $200k, you only ever pay taxes on your homes value at 200k adjusted for inflation. So if it say becomes worth 900k 15 years later, you only pay taxes on the 200k value adjusted slightly in todays dollars. So like 250k or something of that nature.
Imo the only way it should work is that day you bought your home for $200k, you only ever pay taxes on your homes value at 200k adjusted for inflation. So if it say becomes worth 900k 15 years later, you only pay taxes on the 200k value adjusted slightly in todays dollars. So like 250k or something of that nature.
This post was edited on 6/17/22 at 2:47 pm
Posted on 6/17/22 at 2:57 pm to SPEEDY
no state income tax. Cry me a River.
Posted on 6/17/22 at 2:58 pm to SPEEDY
frick texas
Posted on 6/17/22 at 3:01 pm to SPEEDY
What I hate most is it’s a tax on unrealized gains. I talked with an inspector that says he pays $200 or so every year for a firm to dispute the tax appraisal and has been worth it every year.
ETA: this is the way
ETA: this is the way
quote:
raising property taxes marginally with inflation
This post was edited on 6/17/22 at 3:06 pm
Posted on 6/17/22 at 3:03 pm to SPEEDY
Blackstone finna eat
Posted on 6/17/22 at 3:05 pm to SPEEDY
quote:587% appreciation in one year?quote:
Shannon Nash owns four acres in Smith Point in Chambers County. In 2021, his property was valued at about $65,000. One year later, it increased to almost $382,000 in value.
"I was mostly just in shock," Nash said. "I called a number of people that I know around here and they were already in shock. They had gotten their bills before me."
In 2021, Nash owed about $1,700 in property taxes. In 2022, he will have to pay Chambers County more than $10,000.
Sell, or shut up and pay it.
Probably was undervalued historically and the owner never bitched about that....
Posted on 6/17/22 at 3:07 pm to SPEEDY
So they didn’t adjust the rates but purely increased the taxable values everywhere? Texas counties are going to be swimming in collected taxes.
This post was edited on 6/17/22 at 3:08 pm
Posted on 6/17/22 at 3:11 pm to SPEEDY
frickers locking in the 10% compounding increase YOY. Protest annually and after this coming real estate crash, the comps won’t be there.
Posted on 6/17/22 at 3:16 pm to SPEEDY
Oh well...They choose to live there just like Louisianaians choose to live in flood and hurricane frequent area.
Don't come crying when you have to pay taxes or your shite gets obliterated....you made that decision.
Don't come crying when you have to pay taxes or your shite gets obliterated....you made that decision.
Posted on 6/17/22 at 3:30 pm to SPEEDY
I’m against any and all taxes but understand their evil necessity.
That being said,
I’m willing to bet that 95% of the county could sell their property for 150-200% of what they could two years ago as well.
Beto tweeted out “raise your hand if your property taxes went up under Greg Abbott,” as a gotcha. No shite Sherlock. Our property values all went up because people don’t like being ruled by dictators and people wanted to move here.
I’m not a property tax master but I think they can only charge him in 10% increase intervals. That may be for homesteaded land though.
That being said,
quote:
According to Altinger, 95% of the county is seeing an increase in their property valuation by an average of 20%
I’m willing to bet that 95% of the county could sell their property for 150-200% of what they could two years ago as well.
Beto tweeted out “raise your hand if your property taxes went up under Greg Abbott,” as a gotcha. No shite Sherlock. Our property values all went up because people don’t like being ruled by dictators and people wanted to move here.
quote:
In 2021, Nash owed about $1,700 in property taxes. In 2022, he will have to pay Chambers County more than $10,000.
I’m not a property tax master but I think they can only charge him in 10% increase intervals. That may be for homesteaded land though.
Posted on 6/17/22 at 3:31 pm to SPEEDY
Property and income tax is straight theft
Posted on 6/17/22 at 3:40 pm to SPEEDY
If our Founding Fathers could see we now how a system where the state can come tell you what your property is worth and you thus owe whatever the state says in taxes, they’d think we’ve lost our minds.
Posted on 6/17/22 at 3:42 pm to SPEEDY
Sorry, Texas
Those are rookie numbers
My property taxes are 4 times higher than they were in 2018 in Orleans Parish.
FOUR TIMES
They re-assessed the property 4 times higher then and have been doing the gradual increased ever since. I think it’s now at the ‘assessed value’, but they’ll find ways to increase it more as the city is broke.
Those are rookie numbers
My property taxes are 4 times higher than they were in 2018 in Orleans Parish.
FOUR TIMES
They re-assessed the property 4 times higher then and have been doing the gradual increased ever since. I think it’s now at the ‘assessed value’, but they’ll find ways to increase it more as the city is broke.
This post was edited on 6/17/22 at 3:43 pm
Posted on 6/17/22 at 3:42 pm to SPEEDY
Increases in property taxes are bullshite.
They should be locked in at the price the person who is living there paid for it.
The concept of arbitrarily increasing it because it is now valued at a higher amount is crap.
Hell, the entire concept is bullshite, honestly.
They should be locked in at the price the person who is living there paid for it.
The concept of arbitrarily increasing it because it is now valued at a higher amount is crap.
Hell, the entire concept is bullshite, honestly.
This post was edited on 6/17/22 at 3:43 pm
Posted on 6/17/22 at 3:43 pm to SPEEDY
See, you really don't own it. It's a sad reality. Taxpayers are taxed on the same things they pay for for years after purchase. It's robbery.
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