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re: 'Unprecedented': Property tax bills have reached double value for Texas homeowners
Posted on 6/17/22 at 4:41 pm to Sao
Posted on 6/17/22 at 4:41 pm to Sao
quote:
In a Texas thread? Really?
I'm using examples of government waste. Maybe I should have made it more Texas centric, but at the end of the day there is so much useless spending and the government only sucks harder at the teet.
0
Posted on 6/17/22 at 4:41 pm to jclem11
quote:frick that.
We need denser cities and less fricking sprawl.
Scruffy doesn’t want to live in a city.
They are shitholes.
Posted on 6/17/22 at 4:43 pm to Scruffy
quote:
frick that.
Scruffy doesn’t want to live in a city.
They are shitholes.
But are they shitty because of sprawl?
You can not want to live in a city and not live in Allen, TX either.
Cities can be cities and rural can be rural without the white bread suburbs
Posted on 6/17/22 at 4:49 pm to Scruffy
ninthward agrees with scruffy
Posted on 6/17/22 at 4:49 pm to BROpaneTANK
quote:
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.
That's exactly the way they do it in California believe it or not. Property taxes are fixed at 1% of the purchase or transfer price and the basis value can only increase by 2% each year. Lots of old people and landlords are hunckered down in properties they bought for cheap in the 70s and are now worth millions but they only pay a small amount in property taxes based on the sale price decades ago. And then when they die their kids inherit the property and sell it with a quickness after they get hit with a monster tax bill that reflects a modern, inflated appraisal.
Posted on 6/17/22 at 4:51 pm to SPEEDY
You will own nothing and be happy
This is all by design
This is all by design
Posted on 6/17/22 at 4:55 pm to 3nOut
quote:
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.
Correct, in Texas homesteads are limited to a 10% increase in assessed value (the value used for calculating property tax). Non-homesteads (unimproved land, second houses owned, rental property) can go up as much as the assessor can get away with on the assessment (I own land which increased 23% this year).
Posted on 6/17/22 at 5:04 pm to Scruffy
Then don’t bitch about the higher property taxes that you need to pay for your cringe suburbs.
The city residents should not subsidize your choice to live in the bland arse, car centric suburbs.
Suburbs are just arse and need to be killed immediately.
Walkable, mixed use neighborhoods are what we need so car culture will fricking die.
The city residents should not subsidize your choice to live in the bland arse, car centric suburbs.
Suburbs are just arse and need to be killed immediately.
Walkable, mixed use neighborhoods are what we need so car culture will fricking die.
Posted on 6/17/22 at 5:08 pm to SPEEDY
Basically what happened to me. My 280k home i bought in 2020 is now half a mil. Property taxes went up accordingly
Posted on 6/17/22 at 5:10 pm to jclem11
quote:
The city residents should not subsidize your choice to live in the bland arse, car centric suburbs. Suburbs are just arse and need to be killed immediately.
Didn’t St George just prove the opposite of this? They basically ruled that losing the suburbs taxes would irrevocably harm urban Baton Rouge?
This post was edited on 6/17/22 at 5:15 pm
Posted on 6/17/22 at 5:14 pm to 3nOut
I’m dealing with this now…homestead exemption is a life saver otherwise I would be paying with a 30%+ increase this year. Capped at 10%.
Unfortunately, it means that I’ll pay the 10% increase every year for the foreseeable future.
Unfortunately, it means that I’ll pay the 10% increase every year for the foreseeable future.
Posted on 6/17/22 at 5:15 pm to Quidam65
quote:
Correct, in Texas homesteads are limited to a 10% increase in assessed value (the value used for calculating property tax). Non-homesteads (unimproved land, second houses owned, rental property) can go up as much as the assessor can get away with on the assessment (I own land which increased 23% this year).
So basically the guy who said his taxes went from $1,700 to $10,000 is likely talking about either a rental property, a camp, or unimproved land.
So the good news, as I understand it, is that folks who own and live in a house are basically only paying 10% more year over year while the folks buying up developments for rentals are paying the full increase based on the assessment.
How do they handle your assessment in Texas when you buy a house? Does the property keep its previous assessment (assuming it’s not in a new development) or do they update it based on the sale price?
Posted on 6/17/22 at 5:19 pm to jclem11
quote:
Suburbs are just arse and need to be killed immediately.
I don’t disagree, but cities need to do something about their atrocious crime and education systems. It’s not like suburbs were attractive to anybody in an objective sense, they were just better options than the cities.
Oh, and make their public transportation not an absolute hellscape too. Granted, fixing crime fixes this too mostly.
This post was edited on 6/17/22 at 5:22 pm
Posted on 6/17/22 at 5:23 pm to lostinbr
quote:
How do they handle your assessment in Texas when you buy a house? Does the property keep its previous assessment (assuming it’s not in a new development) or do they update it based on the sale price?
County assessor takes a wild arse guess based on other properties and what they sold for in your area. It updates every year. You’ll pay based on what the last assessment was for your first year.
They let you know in mail. You cuss. You accept it or go contest. Then you pay the new assessment or it goes into escrow and you cuss at your new mortgage payment.
We bought our house for $100k in 2009. Our property taxes bounced around $65-80k till 2020. We remodeled and it went to 113k in 2020 before we started the remodel. Then 83k in 2021 during the remodel and is $97k right now a year after we’re done. Private appraisal after remodel is $350k.
Wild.
arse.
Guess.
This post was edited on 6/17/22 at 5:24 pm
Posted on 6/17/22 at 5:24 pm to 3nOut
quote:
Didn’t St George just prove the opposite of this? They basically ruled that losing the suburbs taxes would irrevocably harm urban Baton Rouge?
I don’t agree with any of that guy’s takes, but I also don’t know that you can consider St. George a “suburb” - at least not in the way he’s describing them. There’s not a ton of difference between south Baton Rouge and St. George (in terms of layout, population density, etc.) nor is there really any defining line when you leave BR and enter St. George.
I’m speaking from a practical standpoint - obviously there is a defining line based on the city limits, but if you didn’t know the history or look at a map you wouldn’t be able to tell when you crossed between the two.
That said, his take on suburbs is retarded. And also frick SWB.
Posted on 6/17/22 at 5:27 pm to lostinbr
quote:
I don’t agree with any of that guy’s takes, but I also don’t know that you can consider St. George a “suburb” - at least not in the way he’s describing them. There’s not a ton of difference between south Baton Rouge and St. George (in terms of layout, population density, etc.) nor is there really any defining line when you leave BR and enter St. George.
His takes are awful. Don’t misunderstand me. I’m just saying it’s a symbiotic relationship.
Posted on 6/17/22 at 5:30 pm to SPEEDY
And SALT is capped at $10k. BS. Most of these property taxes go to HISD and you can’t even send your kids there.
Posted on 6/17/22 at 5:42 pm to 3nOut
quote:
His takes are awful.
I'm right on this topic. Stay malding though.
YouTube - Suburbia is Subsidized
Posted on 6/17/22 at 7:32 pm to 3nOut
quote:
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.
Beto is such tool. He must be doing poorly in internal polling for that shite he pulled at the school shooting press conference and now this.
Maybe his property is owned by his wife and billionaire father-in-law, but Property taxes are local. Nothing goes to state. Officially the tax rates and dollar amounts aren’t known yet. Most are estimates using 2021 rates, and also might not include increased exemption that was passed recently which if like in past the state actually makes up difference to the districts. It’s just one side of the equation. Even if not the state the actual tax rates and tax dollars would have been known before election, but he either doesn’t know or assumes his support doesn’t. For now he basically just bragged Abbot increased your property’s value.
Posted on 6/17/22 at 8:33 pm to SPEEDY
I don't think any counties have set the tax rate yet and I don't think any tax bills have been sent out yet. Those usually go out in October.
What has been sent out is the appraisals. If your elected officials are responsible, they will lower the tax rate based on a determination of need and your tax increase will likely not match your increase in appraised value.
Even so, wait a year or two or three when property values plummet and see how you feel. I bet we hear more bitching about the upcoming crash than we are hearing about this boom.
What has been sent out is the appraisals. If your elected officials are responsible, they will lower the tax rate based on a determination of need and your tax increase will likely not match your increase in appraised value.
Even so, wait a year or two or three when property values plummet and see how you feel. I bet we hear more bitching about the upcoming crash than we are hearing about this boom.
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