TexDave's not here Premium Member join:2012-10-20 |
Tex
Premium Member
2015-Apr-20 4:33 pm
[Rant] Talk About Shock!So, today I received a Notice of Appraised Value from our county's central appraisal district showing the taxable value of our home. I was shocked! The appraised taxable value went up a whopping 32.5879325%! The wife is going to have a $#!+ fit! |
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Bamafan2277 Premium Member join:2008-09-20 Jeffersonville, IN
1 recommendation |
That seems to be happening all around. The housing market has been in a lull lately and now that the market is picking up the local taxing authorities are taking advantage and trying to get every dollar they can.
It might be worth paying for a independent appraisal and dispute your tax increase. |
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MrkFrnt join:2000-11-26 Winston Salem, NC
1 recommendation |
to Tex
It's a trick that Charlotte, NC has been using for years. They don't raise taxes, but do "revalue" homes every two years. Whatever it's called, you pay more. If the real estate market where you live is like everywhere else, get an appraisal and try to dispute it. Good luck. |
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banditws6Shrinking Time and Distance Premium Member join:2001-08-18 Frisco, TX |
to Tex
We've been hit hard by increases like this the past two years running. The problem is, our independent appraisals show an even larger increase in value than even the county is reporting, so I can hardly dispute it... |
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drslash (banned)Goya Asma join:2002-02-18 Marion, IA |
drslash (banned) to Tex
Member
2015-Apr-20 6:15 pm
to Tex
That doesn't mean that your property taxes will go up by 32%. It all depends on the other properties in your tax area and the millage rates etc. If other property values were raised more than yours and the commercial properties were raised then you will most likely not have your net tax bill go up by 32%. However, different areas compute property taxes different. Is your new appraised value somewhat in line with the market value of your home or comparable homes in your neighborhood that have sold recently? If your appraised value is way out of line then your tax assessor should have an appeal process. |
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BlitzenZeusBurnt Out Cynic Premium Member join:2000-01-13 |
to Tex
In a state with sales, and property tax? Maybe even make you pay taxes on the value of the vehicles you own too instead of a flat registration fee? Welcome to the greed machine, you've been here the entire time. Incomes are not rising, but taxes are.
Balance their budgets to actually justify these taxes? Never! That's too hard...
Cut school funding, and not make parents actually pay to directly support the local schools their children are attending? No way! We'll continue to make everyone continue to pay into the welfare state for the good of the children, even the many who could actually pay instead of increasing property taxes, and not make parents actually pay for school unless they elect to put them in a private school.
I know a little old lady who had to get a reverse mortgage after she couldn't afford the property taxes after values increased, actual, and taxable. Lets just say that we're in a tech area, and they're in very short driving distance to an Intel campus, the company who makes most of the processors in your desktop computers, among other things. Others simply can't afford the mandatory repairs to qualify for the reverse mortgage, and just lose their home. |
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TexDave's not here Premium Member join:2012-10-20 |
to drslash
Oh, I'm pretty damn sure my property taxes are going up 32%. I've been down this road. One of the taxing entities (local school district) called in the state comptroller. The comptroller determined that our city's properties were undervalued by $179,000,000. This is a town with a population of only 13,000 people and no industry to speak of.
My wife and I live in a development with approximately 90 other homes built around the same time (late 1990s) and they are all relatively the same build and square footage. I haven't spoken to any of my neighbors, but I'm fairly certain they are in shock, too. And, yes, we have an appeal process, but due to what the state comptroller claims, I suspect any appeal will be denied. |
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BlitzenZeusBurnt Out Cynic Premium Member join:2000-01-13 |
When I was young my parents moved to a small city with good schools, and had a middle school, along with a high school both within two miles. The neighboring city's school district pushed to take it over, and in the process screwed everything up. The school funding was sent off to the rest of the district that took us over leaving us underfunded, and they overcrowded our schools at double capacity. On top of that taxable property values skyrocketed afterwards, and have been steadily increasing every year.
The way it effected me was even more annoying, that middle school two miles away? The morons bused me 45 minutes away to another middle school after they overcrowded the one two miles away from other areas, and I could get there faster riding my bike than taking the bus as there was so many stops. So just because some moron put a line on map I had to lose sleep, and an hour and a half of my life every school day in middle school. It would have taken me five minutes to walk there. |
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I couldn't ride the bus to school. The house, on the end a dead end street, was inside the two mile limit, but the other end of the street was at the limit. They didn't see the problem with that. |
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wth Premium Member join:2002-02-20 Iowa City,IA |
wth to Tex
Premium Member
2015-Apr-20 10:32 pm
to Tex
Has there been a sale/sales of one or more homes close to you in the past 2 years? If there has, and there close to the same size of yours, and the sale price was way higher than their appraised value, then the appraised value of the surrounding homes will go up. Sale prices & dates are usually shown on the county/city assessors websites. |
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ThespisI'm not an actor, but I play one on TV. Premium Member join:2004-08-03 Keller, TX |
to Tex
Our neighborhood is going crazy! Houses are selling for about 100-120/sq. ft., which is way up from when I bought 8 years ago. The house next door was put on the market last Friday and sold within 8 hours, for more than the asking price. There are actually bidding wars. I know other areas of the country have already experienced these kinds of increases in value, but this is new for Fort Worth. Is your neighborhood selling well? |
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to Tex
The taxable value is a percentage of the assessed value so it will be less than the full 32% increase. |
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banditws6Shrinking Time and Distance Premium Member join:2001-08-18 Frisco, TX |
to Thespis
Yeah, same thing in our neighborhood. A friend put his home on the market and had two competing offers the same day. I've heard of sellers with multiple buyers asking for things like a written letter from each buyer explaining why he/she should be given the opportunity to purchase the home.
It's a far cry from when I sold my last home in Florida, where it took me 6 months and I made a grand total profit of $200. |
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KearnstdSpace Elf Premium Member join:2002-01-22 Mullica Hill, NJ |
to Tex
This has driven long time residents from town. And by long time I mean people who moved into a town say 40-50 years ago and got a home for like 30k... They never live outside their means and over time the town becomes and enclave for the more well off and homes are now worth 500k... They get taxed out of their own home. |
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ilikeme Premium Member join:2002-08-27 Stafford, TX |
to banditws6
said by banditws6:Yeah, same thing in our neighborhood. A friend put his home on the market and had two competing offers the same day. I've heard of sellers with multiple buyers asking for things like a written letter from each buyer explaining why he/she should be given the opportunity to purchase the home. Things are exactly the same in most of the Houston area. It is ridiculous. I bought my house last September and since then the value has gone up even more since then! I just got my apprasial from the county and it went up by $41,876! |
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nightdesignsGone missing, back soon Premium Member join:2002-05-31 AZ |
to Tex
Do your areas have a limit in how much they can raise it each year? When I was in CA, it was max 2% per year. The value could go higher, but the taxes could only do 2%. Unfortunately for people who were in their homes for a long time, even with the property values dropping, their property tax was going up as it was still playing catch up to the assessed value. The max chargeable value keeps going up 2% even if the assessed value is flat. |
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ThespisI'm not an actor, but I play one on TV. Premium Member join:2004-08-03 Keller, TX |
to Kearnstd
said by Kearnstd:They get taxed out of their own home. I guess that's one way to look at it. If it were me, I think the $470,000 profit on the investment would smooth over any hurt feelings. |
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TexDave's not here Premium Member join:2012-10-20 |
to ilikeme
Mine went up by $42,420. I'm southeast of you in another county. |
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Anonymous_Anonymous Premium Member join:2004-06-21 127.0.0.1 |
to BlitzenZeus
said by BlitzenZeus:The way it effected me was even more annoying, that middle school two miles away? The morons bused me 45 minutes away to another middle school after they overcrowded the one two miles away from other areas, and I could get there faster riding my bike than taking the bus as there was so many stops. So just because some moron put a line on map I had to lose sleep, and an hour and a half of my life every school day in middle school. It would have taken me five minutes to walk there. must be walking 24mph? |
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Anonymous_ 2 edits |
to nightdesigns
California Proposition 13 made the tax a fixed cost
my grandpa only paid about 750$ on his million dollar home(current value).... |
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ilikeme Premium Member join:2002-08-27 Stafford, TX |
to Tex
You had a similar increase as mine. What city are you in? |
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BlitzenZeusBurnt Out Cynic Premium Member join:2000-01-13 |
to Anonymous_
It was less than two miles troll |
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