Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Property Tax Increases
Old 07-23-2019, 12:16 PM   #1
Dryer sheet aficionado
 
Join Date: May 2011
Posts: 30
Property Tax Increases

Just got my 2019 Property Tax Notice. 2019 increase 6%. Since 2013 my property taxes in Raleigh, NC have gone up 34.9%. Prior to that from 2009 - 2012 they went up less than 1%. For those of you who actually keep track of this, how much did your property tax increase over the same periods.
__________________

11522914 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-23-2019, 12:52 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Big_Hitter's Avatar
 
Join Date: May 2013
Location: In the fairway
Posts: 5,264
we bought our current house 5 years ago - our assessment has gone up about 50% over that time period
__________________

__________________
Swing hard, look up
Big_Hitter is offline   Reply With Quote
Old 07-23-2019, 01:10 PM   #3
Recycles dryer sheets
 
Join Date: Jun 2017
Posts: 378
Ours had gone up 60% despite protests. We got lucky with this years protest and was able to drop it 20% from then 2019 proposed valuation so now overall increase is a little under 30% in your time frame.

Less than the 100% gain in stocks over same time frame. With low interest rates, house prices have gone up-up-up.
pj.mask is offline   Reply With Quote
Old 07-23-2019, 01:15 PM   #4
Thinks s/he gets paid by the post
RobbieB's Avatar
 
Join Date: Mar 2016
Location: Central CA
Posts: 4,557
2% a year. CA prop 13 -

CA may be expensive otherwise but it's a good place to own a home for a long time.
__________________
Retired at 59 in 2014. Should have done it sooner but I worried too much.
RobbieB is offline   Reply With Quote
Old 07-23-2019, 01:16 PM   #5
Thinks s/he gets paid by the post
Teacher Terry's Avatar
 
Join Date: Jun 2014
Posts: 4,326
In 7 years ours went from 650 to 744/year. No complaints.
Teacher Terry is offline   Reply With Quote
Old 07-23-2019, 01:22 PM   #6
Thinks s/he gets paid by the post
 
Join Date: Apr 2015
Posts: 1,078
per state initiative--3% limit per year, but voted in local school bonds, etc can be excluded.
__________________
Give me a fish, I will eat for a day. Teach me to fish, I will eat for a lifetime.
pacergal is offline   Reply With Quote
Old 07-23-2019, 01:35 PM   #7
Moderator Emeritus
braumeister's Avatar
 
Join Date: Feb 2010
Location: Flyover country
Posts: 13,588
Back then we paid 1.7% of assessed value.

Now we are in a different state and a nicer home, and pay 1.3% of assessed value.

So I think it's fair to say our property tax went down.
__________________
I thought growing old would take longer.
braumeister is offline   Reply With Quote
Old 07-23-2019, 01:58 PM   #8
Thinks s/he gets paid by the post
 
Join Date: Jun 2003
Location: Historic Florida
Posts: 3,751
Florida Homestead Exemption of $50k and max 3% Increase Per year. Since 2008 ($7157) our home taxes have actually gone down by 22% base on 2018 assessment ($5558) this is taken from my budget spreadsheet. I think our current rates is ~1.5% of assessed value.
__________________
"Arguing with an Engineer is like rolling in the mud with a pig. Just remember that the pig likes it."
ShokWaveRider is online now   Reply With Quote
Old 07-23-2019, 02:01 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Nov 2009
Posts: 5,211
My property taxes have been very volatile over the years, especially since 2001. I live in a large co-op complex, and the Board and managing agent fight diligently to reduce our assessments and property tax bills. Sometimes, they get refunds in a year which cover multiple years over overassessments.


Then, since 1998 our state (New York) has had this STAR program which provides property tax relief. I am not yet old enough to qualify for the "Enhanced" STAR which would provide additional tax relief if I meet the income requirement. Then, starting in 2015 the state began issuing rebate checks if one or more of our local taxing authorities limited their tax increases to the inflation rate. Last year, I unexpectedly received two such checks.


If the co-op gets a tax refund, it goes into the reserve fund which sometimes pays for large expenses (read: no one-time assessments) or sometimes results in no change to our monthly maintenance or at least keeps any increases down (one year, we even saw a slight decrease!). Otherwise, the checks go directly to me or are used as a direct credit on my monthly maintenance.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
scrabbler1 is online now   Reply With Quote
Old 07-23-2019, 02:27 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 23,652
I don't have 2019 yet.

2018 rate was $2.38/$100
2013 rate was $1.88/$100.... so 127% or 5.3%/year on average.

I'm using the rate because there have been some minor chnges in our appraised value over the years so the rate is more indicative of the actual increase.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

Retired Jan 2012 at age 56...60/35/5 AA
pb4uski is offline   Reply With Quote
Old 07-23-2019, 02:28 PM   #11
Recycles dryer sheets
 
Join Date: Jul 2014
Location: Undisclosed
Posts: 214
2009 - 2012 +14.1%
2013 - 2019 -6.3%
2009 - 2019 +11.4%


Technically, the 2019 property taxes are for 2018 but payable in 2019. We won't find out the 2019 numbers until May 2020. Our changes in assessed values are based on changes in average sales prices over the previous 3 year period with a 2 year lag, I think. Right now, the property tax peaked in 2013, hit a subsequent low in 2016, and then started climbing again.
N02L84ER is online now   Reply With Quote
Old 07-23-2019, 02:48 PM   #12
Recycles dryer sheets
 
Join Date: Jun 2018
Posts: 220
I pay prop tax on a modest rental prop in the Fayetteville NC area. Its been steady in the $1400-$1500 arena for about 10 years. I did an appeal and won on a proposed increase in valuation back in approx 2015 timeframe. Put me right back in the same price arena. Don't recall how high they had proposed, but enough of a hike to make it worth my while to build the appeal packet with comps and sales analysis.
MrsHaloFIRE is offline   Reply With Quote
Old 07-23-2019, 02:55 PM   #13
Moderator Emeritus
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 42,797
Quote:
Originally Posted by 11522914 View Post
Just got my 2019 Property Tax Notice. 2019 increase 6%. Since 2013 my property taxes in Raleigh, NC have gone up 34.9%. Prior to that from 2009 - 2012 they went up less than 1%. For those of you who actually keep track of this, how much did your property tax increase over the same periods.
Don't know if this will help because I moved, but I had the figures so here they are:

Property taxes: Moved to "Dream Home" in 2015
yearproperty taxComments
2009: $873 
2010: $873 
2011: $895 
2012: $956 
2013: $966 
2014: $956(old house, still assessed at 2002 purchase price)
2015: $771 (new house, but very old assessment level)
2016: $1,668 (new house, now assessed at 2015 purchase price)
2017: $1,701 
2018: $1,701(new house, still assessed at 2015 purchase price
So far my Parish (=County) has never increased the assessment above the purchase price for any house that I owned. Increases that you see are due to increased millages.
W2R is online now   Reply With Quote
Old 07-23-2019, 07:03 PM   #14
Recycles dryer sheets
 
Join Date: Jan 2006
Posts: 191
2018 $15,736
2017 $15,478
2016 $15,111
2015 $14,569
2014 $14,642
2013 $14,382
2012 $13,880
2011 $16,440
2010 $15,899
2009 $15,250
__________________
Seems to me that the corporation's race to the top is resulting in a race to the bottom for the employee's quality of life. FIRE can't come soon enough.
kjpliny is offline   Reply With Quote
Old 07-23-2019, 08:13 PM   #15
Thinks s/he gets paid by the post
38Chevy454's Avatar
 
Join Date: Sep 2013
Location: Cincinnati, OH
Posts: 2,274
One thing I absolutely can't stand is the local politicians stating "no property tax increase" for the year, when the accurate statement is no tax rate increase. If my assessment goes up, then sure as hell my property taxes went up. Only in politician speak can an increased assessment be considered a non-increase.

Also let's not forget all the miscellaneous fees, bond payments or whatever else they tack onto the prop tax bill.
I don't have the tax info for my house since this is my first year for the full assessment. New construction, just moved in last year.
__________________
The advice we're giving you is invaluable, that's why it's free
Experience is a good teacher, but the tuition can get expensive real fast

Semi-Retired 7/1/16: working part-time (60%) for now [4/24/17 changed to 80%]
Retired Aug 2, 2017; age 53
38Chevy454 is offline   Reply With Quote
Old 07-23-2019, 08:15 PM   #16
Full time employment: Posting here.
 
Join Date: Sep 2011
Location: Placerville
Posts: 945
I'm also in California under Prop 13 and love that the taxes are limited to 2% max each year. My home is market value around $800,000 and I pay around $1,300 a year divided into two payments because I bought my home 35 years ago. That works out to under $100 a month.
skipro33 is offline   Reply With Quote
Old 07-24-2019, 07:47 AM   #17
Full time employment: Posting here.
 
Join Date: Jul 2013
Posts: 766
Quote:
Originally Posted by 11522914 View Post
Just got my 2019 Property Tax Notice. 2019 increase 6%. Since 2013 my property taxes in Raleigh, NC have gone up 34.9%. Prior to that from 2009 - 2012 they went up less than 1%. For those of you who actually keep track of this, how much did your property tax increase over the same periods.
What specifically is increasing - the mill rate or the assessed value?
mrfeh is online now   Reply With Quote
Old 07-24-2019, 09:48 AM   #18
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 1,044
almost nothing. Our county has a revenue cap and is legally prohibited from increasing revenue above a pegged rate for inflation. Expansion of the tax bases has been more than enough to cover that.
jebmke is offline   Reply With Quote
Old 07-24-2019, 10:13 AM   #19
Recycles dryer sheets
 
Join Date: Mar 2017
Posts: 495
Mine has either not gone up or gone up by the same small consistent amount. I've owned my place for 34 years and in that time the taxes have gone up by 28%.
SheitlQueen is offline   Reply With Quote
Old 07-24-2019, 10:16 AM   #20
Thinks s/he gets paid by the post
VanWinkle's Avatar
 
Join Date: Oct 2017
Location: Brighton
Posts: 1,238
Quote:
Originally Posted by jebmke View Post
almost nothing. Our county has a revenue cap and is legally prohibited from increasing revenue above a pegged rate for inflation. Expansion of the tax bases has been more than enough to cover that.
Congrats, is your county called Heaven?
__________________

__________________
Retired May 13th(Friday) 2016 at age 61.
VanWinkle is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Financing rental property and using property management services GreenER FIRE and Money 12 01-12-2015 09:00 PM
Tax Increases Bikerdude FIRE and Money 25 01-08-2009 02:25 PM
The Coming Tax Increases... DougViages FIRE and Money 27 10-29-2007 10:52 PM
Wage Increases vs. CPI Increases TromboneAl FIRE and Money 19 05-06-2005 02:05 PM

» Quick Links

 
All times are GMT -6. The time now is 06:07 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
×