Annual TCAD Gripe

HECUBUS
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Hired a company in 2017 to lower our appraisal and saved a few thousand. This year's market value is up 41%. Yikes! Coincidence?
Furlock Bones
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AG
You have to fight every year.
HECUBUS
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AG
The company we hired does fight it every year, that's how we got the data from TCAD so early this year. I believe 41% is the biggest jump we've seen in the 26 years we've been in this house. It's certainly in the top two or three. I don't think they will be able to lower it enough to see any savings any time soon.

I just wonder if it's this crazy for the area in 2018 or if it's now a game between TCAD and the company we hired to fight TCAD.

voorheesdn
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AG
Not a primary residence? Why not homestead expedition?
HECUBUS
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AG
Homestead exemption, so we'll only see a ten percent a year maximum increase. Just curious if this is the norm for 2018 or if fighting the market value in 2017 triggered this bump.
Furlock Bones
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AG
HECUBUS said:

Homestead exemption, so we'll only see a ten percent a year maximum increase. Just curious if this is the norm for 2018 or if fighting the market value in 2017 triggered this bump.
nope. that's not the way it works. but, the property tax companies and the CADs do have a sort of game going. many, many times the tax companies will get a better deal than an individual does using the exact same info.

i've seen it in Harris county a bunch. you can't tell me there isn't some side thing going on between the companies and the appraisal districts.
stardustag
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property tax was flat going from 2016 to 2017... so I fully expect 2018 to be a big jump year... I guess I'll have to brace for it.... :/
HTownAg98
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Furlock Bones said:

HECUBUS said:

Homestead exemption, so we'll only see a ten percent a year maximum increase. Just curious if this is the norm for 2018 or if fighting the market value in 2017 triggered this bump.
nope. that's not the way it works. but, the property tax companies and the CADs do have a sort of game going. many, many times the tax companies will get a better deal than an individual does using the exact same info.

i've seen it in Harris county a bunch. you can't tell me there isn't some side thing going on between the companies and the appraisal districts.

It has more to do with the fact that these tax companies have so many people signed up that it is just easier to settle with everyone and save everyone a bunch of time and money having hearings.
SteveBott
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Williamson county knows the value of homes but they just raise it 10% each year for the last 3 years. I expect to see another 10 this year. Then they will be pretty close to actual value of my home
evan_aggie
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You know what I can't figure out...

House prices in central Austin have gone up 60% in the last 8 years and somehow the city still has to constantly pitch bonds to fund projects or revamp roads with tolls.

How is it San Antonio has maintained things so well without toll roads?

Austin should be flush with new revenue given the incredible changes in prices over the last 5 years.
tailgatetimer10
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I've had the same experience
Charpie
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It's because th leu have to spend 7 million bucks on a pedestrian bridge that no one will use
It ends with us. It ends with us doing what’s right for the country.

-Olivia Pope
SteveBott
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The answer is cash flow. A major road project costs XXX million and even with the increase in value that does not translate into the same percentage increase in tax revenue. Bonds fill the gap. The road is paid for in 1-2 years with bonds and those are paid for by the year to year tax collection.

Think bridge financing
HECUBUS
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Seems area wide, just got a notice for rental property up 20%. Seeing about one third the calculated tax break in paycheck and property tax increases are more than that amount.

Nobody is going to stop spending, so no way there can be a real tax break. Big surprise.
evan_aggie
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SteveBott said:

The answer is cash flow. A major road project costs XXX million and even with the increase in value that does not translate into the same percentage increase in tax revenue. Bonds fill the gap. The road is paid for in 1-2 years with bonds and those are paid for by the year to year tax collection.

Think bridge financing

You are right. That explains big construction projects: but I still ask why SA has zero toll roads and it seems like everything major being done for Austin is a toll. SH45, 183A, SH130, Mopac-Toll. What the F are they doing? I tried to pull up a comparison long ago of city expenditures in different areas, but the data was old in 2014 if I recall correctly, and probably based on information even earlier than that.

SteveBott
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Technically SA has one toll road with 130 feeding it from the north. You could also say it's a boondoggle.

Travis has the new mopac toll and the recent 290 toll but basically no toll roads before those.

Here in Williamson we have mostly expanded with them because TXDOT said toll now or nothing. We desperately needed highways at the time and went toll.
tailgatetimer10
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I dream of these toll roads up north becoming free one day. Literally not a good way to go north, or east and west, unless you take a toll up here.
SteveBott
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Which is why we needed them. Austin was forcing growth to the north and south and Willco had to have something
tailgatetimer10
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I agree with why they were built. Just wishful thinking that they will be free one day, because it isn't doing to happen
SteveBott
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They will spend the money somehow. Pretty sure 130 and 183 are private and 45??? Don't think so.
tailgatetimer10
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130 is owned by State of Texas but managed through a private entity. Central Texas regional mobility runs the rest through the Central Texas turnpike system.

Just read this on Wikipedia because I was interested.
HECUBUS
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2018 TCAD #s are out, neighbors all got a ~40% increase also. We are still about 25% under our neighbors. Problem is a few houses and lots have sold and a few are on the market.

A dollar isn't worth a dime any more.
rather be fishing
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10% cap for third straight year. Company we've used got us nothing last year. Our assessed value has more than double in 6 years. We came very close to relocating and were going to do everything we could to hold onto our house cause there's no way we could afford to buy in it neighborhood again anytime soon. Which is crazy considering how close we are to Burnet MS. You would think with the amount of tax money coming out of it neighborhood they could at least put the rifraf on the other side of 183 in a different school.
Martin Cash
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Keepin' it weird comes at a high cost.
HECUBUS
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No kidding. The official car of the local high school is a porsche cayenne turbo. Our poor high schooler slums it in a Honda crv. Oh the humility.
Aston 91
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It's becoming fairly obvious we won't be retiring here. Our income will drop off substantially when we retire, but the tax bill isn't. I know every place has to get tax revenue from somewhere, but Texas (and metropolitan areas with significant school taxes in particular) isn't the tax wonderland that some would have us believe. I'd prefer lower property taxes and a state income tax than this system - particularly when our school taxes don't even stay local.
SteveBott
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When I got into mortgage I did loans in about 20 states some with income taxes. When I reviewed combined income and property taxes of those states it came out about the same as Texas. We just jam all the tax into property and sales levies.
ATXAdvisor
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Just curious, is the assessed value in line with your market value? I don't like writing a big check either, but my value has generally been a little more than what TCAD has assessed. (I also fight it every year.)

The bigger gripe I have is how the State of TX disproportionally puts the tax burden on homeowners. School finance (screw Dan Patrick) is at the top of the list of things that need fixing.
HECUBUS
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Same, we can't legitimately complain on appraisal value. The amount of school tax is insane with 60% of that going to places that dont pay any school taxes.



SteveBott
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What places pay no school taxes?
ATXAdvisor
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I think he meant places that can't cover the cost of schools with their local tax base. For EISD, over 70% of property taxes are being redistributed by the state.
SteveBott
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I understand Robin Hood fairly well. Those taxes are going to dirt poor districts that do pay taxes just not enough to provide a decent education.
Aston 91
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SteveBott said:

When I got into mortgage I did loans in about 20 states some with income taxes. When I reviewed combined income and property taxes of those states it came out about the same as Texas. We just jam all the tax into property and sales levies.
I agree that while you're working and drawing a decent income, Texas is probably as good as most states when it comes to tax burden for homeowners. In retirement, I anticipate a decent percentage of our living expenses will be paid for with money that isn't subject to income tax (i.e. savings that we've already paid taxes on, Roth IRAs, etc.). If we're in a state with a significantly lower property tax rate, it seems that it would more than offset the state income tax on the reduced taxable income. Maybe I'm missing something, or maybe I'm just eager to move somewhere where it's not 90+ for five months out of the year and just looking for a justification.
SteveBott
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I'm 57 and most of my friends are starting to look at retirement. Almost all are planning to scale down at that time. Especially housing. Quite a few want to combine that with basic housing in cooler weather like CO orNM.
Furlock Bones
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i won't be retiring in Texas. too many nicer places to live.
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