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.
Property Tax Increases
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Big_Hitter
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we bought our current house 5 years ago - our assessment has gone up about 50% over that time period
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.
Less than the 100% gain in stocks over same time frame. With low interest rates, house prices have gone up-up-up.
Teacher Terry
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In 7 years ours went from 650 to 744/year. No complaints.
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.
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.
ShokWaveRider
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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.
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scrabbler1
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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.
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.
pb4uski
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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.
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.
N02L84ER
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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.
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.
MrsHaloFIRE
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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.
W2R
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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
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
38Chevy454
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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.
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.
skipro33
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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.
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What specifically is increasing - the mill rate or the assessed value?
SheitlQueen
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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%.
VanWinkle
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From 2013 through 2019, our property tax has gone up 34%, or 5.7%/yr on average. Assessed value is up 42% over the same period, or 7%/yr on average. The average tax rate declined slightly from 2.44% to 2.30%.
Most of that increase came in the last 2 years when the appraised value increased more than 10%. In Texas, with a homestead exemption, increases in assessed value are capped at 10%/yr. So last 2 years, our taxes have gone up 10% per year. Our rental property (no homestead exemption) has gone up 68% since 2012 (when we bought it) on a 76% increased in assessed value.
From 2005 (when we bought our house) through 2014, property taxes were basically flat, mostly due to the impact of the recession on property values. Since buying the house 14 years ago, the average increase in property tax is 2.1% per year, which seems more reasonable for the whole business cycle.
As property values have shot up last few years, the city and county have been lowering their rates. Those taxes have been very reasonable. But the school district typically holds the rate flat and they are 65% of the total tax. So our school taxes go up in sync with property value increases. School funding in Texas is a mess to put it mildly. Supposedly the state legislature just passed some school property tax reform but I remain highly skeptical.
Most of that increase came in the last 2 years when the appraised value increased more than 10%. In Texas, with a homestead exemption, increases in assessed value are capped at 10%/yr. So last 2 years, our taxes have gone up 10% per year. Our rental property (no homestead exemption) has gone up 68% since 2012 (when we bought it) on a 76% increased in assessed value.
From 2005 (when we bought our house) through 2014, property taxes were basically flat, mostly due to the impact of the recession on property values. Since buying the house 14 years ago, the average increase in property tax is 2.1% per year, which seems more reasonable for the whole business cycle.
As property values have shot up last few years, the city and county have been lowering their rates. Those taxes have been very reasonable. But the school district typically holds the rate flat and they are 65% of the total tax. So our school taxes go up in sync with property value increases. School funding in Texas is a mess to put it mildly. Supposedly the state legislature just passed some school property tax reform but I remain highly skeptical.
davebarnes
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[Mod Edit]
We bought our new-build house in 2011 for $482K. Current market value is $840K.
Taxes up 22% in 7 years. Taxes are typically 0.5% of market value.
2018 $3551.05 (paid in January 2019)
2017 $3540.45
2016 $3728.33
2015 $3571.96
2014 $3300.57
2013 $3301.99
2012 $2894.56
2011 $1964.25
We bought our new-build house in 2011 for $482K. Current market value is $840K.
Taxes up 22% in 7 years. Taxes are typically 0.5% of market value.
2018 $3551.05 (paid in January 2019)
2017 $3540.45
2016 $3728.33
2015 $3571.96
2014 $3300.57
2013 $3301.99
2012 $2894.56
2011 $1964.25
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Big_Hitter
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dude that's cheap! I'd take those rates in a heartbeat.
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ShokWaveRider
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You should be thanking them. Ours are double.
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We're more than 3X those numbers on a much lower value. Taxes here are 2.3% of value vs your 0.5%. Then again, no income tax in Texas.
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