aTm2004 said:
c-jags said:
Artorias said:
I have come to loathe the entire concept of property taxes, especially how they are handled here in Texas.
One of the big reasons we are moving to Tennessee.
i kinda like the concept of property taxes over state income.
i can live in a decent area that doesn't have insane taxes in a $100k house. i have the option to move to a nicer house or area with a higher property tax if i so desire. i don't really get a say so with a state income tax.
i'd rather just a flat sales tax instead of any income or property tax, but that sort of thought isn't allowed.
ETA: property taxes obviously aren't perfect. in Bell County we had numerous people have their property values "magically" double this last year. contesting it wasn't too hard though.
The thing about property taxes is the county can raise the value of your house each year if they need more money, so your $100k house may be worth $200k in 10 years after they max out the increase each year. You have zero say in that. Yeah, you can protest it, but how many wins do you think you'll get in a row? With income tax, you have more of a say in your annual income, and if you're in a job with a relatively low income ceiling (teacher, LEO, etc), an income tax is probably preferable. This is why I was against whatever prop was on the ballot recently about adding a constitutional amendment for the state to never have an income tax.
The other thing about income tax, not that I am a huge fan, is that it goes up as your income goes up. It is predictable. For property tax, you can have the same income each year, but your tax bill go up hundreds or thousands of dollars a year, even if you have done nothing to increase the value of your home.
Our house appraisal value in Cedar Park doubled in 8 years, even though we had not done anything to the house to merit any substantial value increase. We painted and changed out floors. That is about it. The increase was due to tons of people moving into the area, driving prices up, and with that our property taxes.
Property taxes are quite the racket here in Texas. It is double dipping. Cedar Park was already getting a **** ton more tax revenue from all the people moving into the area, and then they turn around and drive the property taxes up on the people already living here to get even more money.
The other thing that irks me about property taxes, is you will never actually "own" your property. You simply rent it from the govt. Here in TX, the property rental prices are exorbitant. For the same house I could buy here in TX, in TN I will pay about 1/10 the property taxes.