Property Tax - Got statement for 2020

[dhall1414]

They just passed a property tax overhaul last year and a lot of stuff was addressed in it. And I think the cap on increasing is 8% year over year now. As for protesting, most of the appraisal districts have automated response systems, and if you protest they'll knock a bit off just to get you to agree to settle. If their estimate is more of an extortion then definitely decline and make them tell you to your face. But if you're just wanting something knocked off to keep it from exponentially growing every year, it's a good option to stem the bleeding.

As for why it's this bad in the first place? I blame the schools.

[SmTx]

Folks are protesting over haircuts and beer joints and not this? Crazy.

[SwampRanger]

Yeah the legislature fixed all this problem
Last year......and many were very proud of what they did

[Burnadell]

Not that it makes it easier to digest, but many states have you pay 5-7% income tax and then you have the pleasure of property taxes.
I know folks hate income taxes, but only generating revenue through property taxes is regressive for low income earners. If I make 500k a year I can choose to live in a nice house assessed at 250-450k. I pay no state income tax so I think the 5000 k a year is low. If I make 100k and live in the same house, the percent I give to the state government is higher than the wealthier person proportionally.
With commercial revenue and sales taxes being zapped expect taxes to increase also.

Truth! I have long believed that we should have an INCOME tax, not a property tax!

Property tax should freeze at the purchase value. That way you know what you're gonna pay until you sell it.

You must have moved here from California. That is what Proposition 1 (I believe) did for them.

I'm assuming.....you are neither...…….
I am both...…..
I'm a 68 year old, disabled (two tours) Viet Nam vet...…..

What is your disability related to your 2 tours in Vietnam?

[monsterspike]

how did the germany let things go so far?

i remember when that was a popular question to ponder.

[nchunter]

Also I would also point out, that if unemployed, you don’t pay an income tax. With the way revenue comes from property taxes, that tax bill is still due even if you have been furloughed, hours cut or worse laid off.

[txhunt7]

I live on the edge of Harris CO (poor me) . Its truly a scam. Moved into this house in 2013 and have had to protest every single year (except one) . Usually do it my self, did the best when I had an appraisal to show. However there are companies as mentioned above that do it depending the value. many charge 40% but there is one that charges either 120 under 500,000 value, 220 over and thats reasonable. Last year when I protested I wasnt as lucky as previous years and they screwed me. So hired a company this year. If you want the name of the co that charges 120 or 220, pm me. if any interest I'll just post it. They're in Tarrant Co. Funny they told me Harris Co sent their notices out early couple weeks, probably to jump on it before the covid id fear got too bad. But with the questionable market hard to understand, how they can hit so hard and feel so good about it. I've made equity profit on the last 3 houses we owned and sold. Not sure if we'll do it this time with the taxes......

[BigL]

Truth! I have long believed that we should have an INCOME tax, not a property tax!

I agree with you on that. I'd rather pay income tax over property tax. Before I thought I could choose to live in a smaller, cheaper house then it would be less on me. Now the house I live in taxes are high so it doesn't matter I'm paying about the same either way. At least with income tax I know what to expect each year and if for some reason I'm unemployed or retired (in 16 years), it will drop with my drop in income.

I have considered moving to a low property tax state when I retire. States like AL, CO, and LA all have my attention right now. But in 16 years who knows what they will be.

[Burnadell]

You must have moved here from California. That is what Proposition 1 (I believe) did for them.

Correction. I think that was Proposition 13.

[Black Ice]

I agree with you on that. I'd rather pay income tax over property tax. Before I thought I could choose to live in a smaller, cheaper house then it would be less on me. Now the house I live in taxes are high so it doesn't matter I'm paying about the same either way. At least with income tax I know what to expect each year and if for some reason I'm unemployed or retired (in 16 years), it will drop with my drop in income.

I have considered moving to a low property tax state when I retire. States like AL, CO, and LA all have my attention right now. But in 16 years who knows what they will be.

My property tax on my house will be around 7k a year. State Income tax is probably triple that.


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[RattlesnakeDan]

Quote:
Originally Posted by austinRecurve View Post
Property tax should freeze at the purchase value. That way you know what you're gonna pay until you sell it.
You must have moved here from California. That is what Proposition 1 (I believe) did for them.

I believe it is prop 13 and the reason California screwed themselves and are now making it impossible for young people to buy.
Basically they froze property taxes on certain age and certain properties. Many of these properties are worth millions and the taxes are hundreds of dollars per year and locked in at that rate. So to make up for the loss they tax new homes at outrageous prices, making it hard for new buyers, meanwhile those homes with frozen taxes tear down the old homes and leave one existing wall standing and build multi million dollar homes around that wall, while paying almost nothing. It has backfired on them.

[drwilliams]

Welcome to California men! The line of work I do i see 2-3 family's moving here weekly. If they aren't from California they are coming from Arizona. I hate it as much as everyone else does. My fathers Taxes got froze a couple years ago because of age and his home value still goes up with the school taxes. Its a no win situation we as home owners are fighting.

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[Bayouboy]

My property tax on my house will be around 7k a year. State Income tax is probably triple that.


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They just think they want state taxes until they have to pay them and reality sets in.

[HeyMikey]

Just got my appraisal in the mail. I hate to even look.......

[Hoggslayer]

Mine went up 9.4%. Guess you can protest online now.