Property Taxes in DFW

[Kevin]

This is getting crazy. For the past 2 years our home in Tarrant Co has increased at the cap max of 10% per year and its not even to the "market value" which is WELL above what we could actually sell it for.

Now the real problem is my lot I plan to build on. The property taxes have gone up 630%+ in 2 years. 2 YEARS. Its just unbelievable. The kicker is they are now appraising it for easily 30-40% of what I could sell it for (based on comps). I mean the property is in HURST. Its not like its in Westlake.

** RANT OVER **

[Dakota7493]

Got a letter from Tarrant Co. appraisal yesterday saying basically the same thing.

[dustoffer]

Gotta pay for all those "services" you get from living in the city. Our neighborhood was annexed several years ago, and one thing we got for our tax dollars was 3 years of mud, dust, and inconvenience while the dug up the road, put in a sewer line, and repaved. Then we got to hook up to the sewer for about $4500 or so out of pocket. However, my septic was on its last legs so it was cheaper than a new septic by far.

If it is your home/business, take pics of all the problems (roof/parking lot/drainage, etc) and get quotes to fix. Take this to the appraisal office and challenge their numbers. Friend of mine got his numbers reduced by over $50k this year. But remember this--use facts and numbers, not emotion--

[locknload]

They are now expecting you to challenge. They pull comps from the area and mathematically figure out what your tax base is. It is not fair, because salaries are stagnant and not increasing with the cost of living.

[Parramore]

One of our neighbors used Property Tax Lock to fight TAD. They got a 10% reduction but I have no idea how much it cost them. We too are getting hammered by these increases. If we are growing and have so many more people moving here and building new houses each year, why do our taxes keep increasing overall? Shouldn't they start to go down due to the tax base being expanded by several thousand people per year?

[seminole1990]

But no state income tax though...yippee.


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[Bear82]

Don't get me started on taxes. Especially taxes on small business owners. Or the people that want $2-3million for their property but claim ag exemption so they only have to pay $50.

[BaconIsMyFriend]

I'll never own another piece of property in DFW. I'm through with their California-like plans and agendas. Seriously though, it ain't gonna get any better.

[Gunnyart]

Yup mine gets maxed out every year. It's almost doubled in the 14 years we've lived here

[topshot]

One of our neighbors used Property Tax Lock to fight TAD. They got a 10% reduction but I have no idea how much it cost them. We too are getting hammered by these increases. If we are growing and have so many more people moving here and building new houses each year, why do our taxes keep increasing overall? Shouldn't they start to go down due to the tax base being expanded by several thousand people per year?

HA! when have you ever seen the government take its hand out of your pocket once it was already in?

I'm looking to buy a house and it's ridiculous right now what homes cost in fort worth compared to 5 years ago; in fact, I was just looking yesterday at a few homes I looked at back in 2011 for 138-158k - one is now worth 290k and the other 320k - explain that one! (i couldn't' afford them back then due to salary, i sure wish i made then what i make now - but in no way do i make enough to afford them at their current value)

[Parramore]

I've spoken with several CPA types that are certain the housing bubble we are in currently will pop early next year. All speculation but I have to agree that at some point this is going to have to reset. I also have a house in Oregon and it's value per year has become comical. In 2009 and 2010, it was valued at 150K and now it's 300K? Per Zillow, which I find hard to trust at all.

[Kevin]

Don't worry guys, Im sure it has nothing to do with the fact they replaced their software with "new and better" appraisal software. Im sure our money will be well spent.

After two controversial years and an investment of over $1 million, the Tarrant Appraisal District is stuck with a software system that still isn’t working properly, according to a new audit released Friday.

http://www.fwtx.com/blogs/fwvoice/tarrant-appraisal-district-stuck-software-system-audit-says

[41Chevy]

Tarrant county is rated 5th in the country for growth right now. There are very few houses available for sale. My house sold in 4 hours sight unseen.

[topshot]

Tarrant county is rated 5th in the country for growth right now. There are very few houses available for sale. My house sold in 4 hours sight unseen.

yes, this is part of the problem - lots of demand, little supply - causing a microbubble...when the growth starts to wane, the supply will increase and prices will fall. the question is - will it happen this year, next year, 5, 10, 20 years from now? Texas rocks so lots of businesses and individuals are moving here - good ... yet bad in some ways.

[Kevin]

Tarrant county is rated 5th in the country for growth right now. There are very few houses available for sale. My house sold in 4 hours sight unseen.

It really depends on the area in Tarrant Co. and that appears to be the problem. Those "hot" and more desirable areas are being used for valuation with no regard to the physical and locational characteristics that drive the price. If my "market valuations" were on target with what homes are going for in my area (or land in one case) I wouldn't be complaining as much. The problem is they are significantly over.