Scorpions, rattlesnakes and #@%$*&! property taxes

**REWahoo** · 06-03-2008, 08:49 AM

No, this is not another "Why you shouldn't move to Texas" rant - OK, maybe it is...

I just received a "Notice of Appraised Value" from the property Appraisal District. The nice folks down at the county tax office think my house is suddenly worth 24%

more than last year! Looks like the vaunted state property tax reform passed three years ago is coming back to haunt us. The basic premise was to increase taxes on businesses in the state which would then be passed on to school districts allowing them to reduce the oppressive property taxes traditionally used for school funding. Here's how it's working out for me:

Year: Yr-over-yr tax increase
2000: 4.9%
2001: 3.2%
2002: 4.1%
2003: 1.6%
2004: 0.8%
2005: 0.6% Property tax reform passed
2006: -3.5%
2007: -6.5%
2008: 10.5% (projected)
2009: 10.5% (projected)
2010: 3.0% (projected)

The reason my 2008 taxes aren't increasing the full 24% in 2008 is due to a 10% per year limit on the amount your appraised value can increase. And yes, I will protest the increase, but living in a rural area with few comparative sales is a handicap - especially when most of the recent sales have been high dollar 3,500+ sf mini mansions in the upscale adjoining neighborhood.

/rant off/

brewer12345 · 06-03-2008, 08:58 AM

Cry me a river. If you want real fun, come on up to "God's country" (AKA NJ). Home of the 10% property tax increase every year.

**REWahoo** · 06-03-2008, 09:02 AM

Quote:

Originally Posted by brewer12345

If you want real fun, come on up to "God's country" (AKA NJ). Home of the 10% property tax increase every year.

How can she afford to live there?

**Want2retire** · 06-03-2008, 09:02 AM

Sorry to hear about your rising appraised value for taxes. It would be bad enough in most states, but in Texas (where the property taxes are staggering to begin with) a few percentage points increase y/y is quite a blow.

Maybe you need to invite the tax assessor/collector over for dinner. Oh, I forgot - - that may be how things get done in Louisiana, but "Texas is a whole 'nother country".

**Martha** · 06-03-2008, 09:04 AM

REW, what you need is a state income tax.

We had an increase in assessment of about 25% as well. We contested the assessment based a purchase agreement for the sale of our place, which did not close. That was handy and we easily got it reduced. Of course, the bad thing is that our place is not worth as much as we would like.

donheff · 06-03-2008, 09:19 AM

Quote:

Originally Posted by Martha

REW, what you need is a state income tax.

Yeah, like DC at 9%

I guess that could be my safety plan if the economy gets bad enough -- move to a low tax state.

brewer12345 · 06-03-2008, 09:24 AM

Quote:

Originally Posted by REWahoo

How can she afford to live there?

Can God create a property tax bill that even she can't afford to pay?

**Bestwifeever** · 06-03-2008, 09:33 AM

50 percent increase in assessed value (and tax) plus 3 percent state income tax near Chicago.

**REWahoo** · 06-03-2008, 09:33 AM

Quote:

Originally Posted by brewer12345

Can God create a property tax bill that even she can't afford to pay?

I can't answer that, but I'm suspicious that may be one of the reasons she doesn't live in Texas.

Moemg · 06-03-2008, 09:34 AM

And then there is Florida home to the truly bizarre property tax situation .

**bssc** · 06-03-2008, 09:45 AM

Quote:

Originally Posted by REWahoo

How can she afford to live there?

Religious institutions don't have to pay taxes. That is why my dad founded his religion.

Gearhead Jim · 06-03-2008, 09:48 AM

Tell me about Florida property taxes, please.
We're toying with the idea of buying a condo down there for winter stays, I understand that non-residents pay different property taxes than residents. Details?

brewer12345 · 06-03-2008, 09:57 AM

Quote:

Originally Posted by Gearhead Jim

Tell me about Florida property taxes, please.
We're toying with the idea of buying a condo down there for winter stays, I understand that non-residents pay different property taxes than residents. Details?

Just to cut through the chase:

Residents get to grit their teeth and write checks.

Non-residents, well, put it this way: bend over, grab your ankles, and try to relax.

73ss454 · 06-03-2008, 09:59 AM

Quote:

Originally Posted by Gearhead Jim

Tell me about Florida property taxes, please.
We're toying with the idea of buying a condo down there for winter stays, I understand that non-residents pay different property taxes than residents. Details?

It's a long story but the bottom line is that Florida is one screwed up state for property taxes.

The longer you live here the less property taxes you pay with a 3% annual cap. So if you buy a house for lets say 300K and your property taxes are 6K your neighbor with the same house that's been there for lets say 5 years could be paying 3K.

Now since it's only a winter thing you can't homestead because you have a primary home in another state. This allows the state to readjust your taxes every year to what ever they deem necessary.

73ss454 · 06-03-2008, 10:02 AM

REW be nice, we all have to pay our fair share. (heh)

**REWahoo** · 06-03-2008, 10:05 AM

Quote:

Originally Posted by 73ss454

REW be nice, we all have to pay our fair share. (heh)

Translation: Misery loves company...

73ss454 · 06-03-2008, 10:09 AM

Quote:

Originally Posted by REWahoo

Translation: Misery loves company...

That's one thing about you, you catch on quick.

**ziggy29** · 06-03-2008, 10:10 AM

My appraisal notice -- also in Texas and not all that far away from REW -- also just came a few days ago. Our assessed value is up 4.7% from last year. I haven't decided whether to challenge it or not.

It's amazing how assessed values can keep rising when housing is supposed to be in the tank. Granted, the housing market in TX isn't nearly as bad as on the coasts, but still...

**Want2retire** · 06-03-2008, 10:18 AM

Quote:

Originally Posted by ziggy29

It's amazing how assessed values can keep rising when housing is supposed to be in the tank. Granted, the housing market in TX isn't nearly as bad as on the coasts, but still...

We are having the same problem here. Our tax assessor sent out a letter saying to expect higher taxes, and claiming that property values here have risen substantially. Yeah, right? I'd really love to get the same price for my house that I could have received in 2005, and I have repaired almost all the hurricane damage.

But, overall our taxes are very low so I have no complaints (other than basing a tax increase on something illogical). I paid only $550.81 property taxes for my median priced house last year, which was maybe half of what I paid before Katrina. They lowered the appraisals in flooded areas en masse to help returning residents. It will be interesting to see how high our taxes become this December.

06-03-2008, 08:49 AM	#1
REWahoo Administrator Join Date: Jun 2002 Location: Texas Hill Country Posts: 11,637	*Scorpions, rattlesnakes and #@%$&! property taxes** No, this is not another "Why you shouldn't move to Texas" rant - OK, maybe it is... I just received a "Notice of Appraised Value" from the property Appraisal District. The nice folks down at the county tax office think my house is suddenly worth 24%more than last year! Looks like the vaunted state property tax reform passed three years ago is coming back to haunt us. The basic premise was to increase taxes on businesses in the state which would then be passed on to school districts allowing them to reduce the oppressive property taxes traditionally used for school funding. Here's how it's working out for me: Year: Yr-over-yr tax increase 2000: 4.9% 2001: 3.2% 2002: 4.1% 2003: 1.6% 2004: 0.8% 2005: 0.6% Property tax reform passed 2006: -3.5% 2007: -6.5% 2008: 10.5% (projected) 2009: 10.5% (projected) 2010: 3.0% (projected) The reason my 2008 taxes aren't increasing the full 24% in 2008 is due to a 10% per year limit on the amount your appraised value can increase. And yes, I will protest the increase, but living in a rural area with few comparative sales is a handicap - especially when most of the recent sales have been high dollar 3,500+ sf mini mansions in the upscale adjoining neighborhood. /rant off/ __________________ [Closed for renovation]

06-03-2008, 08:58 AM	#2
brewer12345 Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Mar 2003 Posts: 9,251	Cry me a river. If you want real fun, come on up to "God's country" (AKA NJ). Home of the 10% property tax increase every year. __________________ “When you realize that you are one of the rare few who observe moral principles in their relationships with others, there is a temptation to sink into amorality, not out of conviction or pleasure but simply to avoid further pain, because there is no greater suffering than being an angel in hell, whereas a devil feels at home wherever he goes.” – Martin Page, How I Became Stupid

06-03-2008, 09:02 AM	#4
Want2retire Moderator Join Date: Jan 2007 Location: New Orleans Posts: 6,097	Sorry to hear about your rising appraised value for taxes. It would be bad enough in most states, but in Texas (where the property taxes are staggering to begin with) a few percentage points increase y/y is quite a blow. Maybe you need to invite the tax assessor/collector over for dinner. Oh, I forgot - - that may be how things get done in Louisiana, but "Texas is a whole 'nother country". __________________ Dreaming of retirement.... " - - my greatest skill has been to want but little - - " (Henry David Thoreau, in Walden)

06-03-2008, 09:04 AM	#5
Martha Administrator Join Date: Feb 2004 Location: minnesota Posts: 9,864	REW, what you need is a state income tax. We had an increase in assessment of about 25% as well. We contested the assessment based a purchase agreement for the sale of our place, which did not close. That was handy and we easily got it reduced. Of course, the bad thing is that our place is not worth as much as we would like. __________________ . Do not rely on the information provided--my posts are not to be taken as legal advice. Needless to say you must consult with your legal representative. I am not responsible for errors. If I offended you with cya I apologize. If I did not, I tried.

06-03-2008, 10:10 AM	#18
ziggy29 Moderator Join Date: Oct 2005 Location: Texas Hill Country Posts: 2,428	My appraisal notice -- also in Texas and not all that far away from REW -- also just came a few days ago. Our assessed value is up 4.7% from last year. I haven't decided whether to challenge it or not. It's amazing how assessed values can keep rising when housing is supposed to be in the tank. Granted, the housing market in TX isn't nearly as bad as on the coasts, but still... __________________ FIRE Clock: 11:26 PM. FIREd at midnight but very subject to change.... waiting for the government to privatize the gains and socialize my losses in my 401K...

06-03-2008, 09:33 AM	#8
Bestwifeever Moderator Join Date: Sep 2007 Posts: 917	50 percent increase in assessed value (and tax) plus 3 percent state income tax near Chicago.

06-03-2008, 09:34 AM	#10
Moemg Thinks s/he gets paid by the post Join Date: Jan 2007 Location: Sarasota,fl. Posts: 3,096	And then there is Florida home to the truly bizarre property tax situation .

06-03-2008, 09:48 AM	#12
Gearhead Jim Recycles dryer sheets Join Date: Aug 2005 Posts: 207	Tell me about Florida property taxes, please. We're toying with the idea of buying a condo down there for winter stays, I understand that non-residents pay different property taxes than residents. Details?

06-03-2008, 10:02 AM	#15
73ss454 Thinks s/he gets paid by the post Join Date: Oct 2004 Posts: 1,758	REW be nice, we all have to pay our fair share. (heh)

06-03-2008, 10:19 AM	#20
Notmuchlonger Thinks s/he gets paid by the post