Hired a company in 2017 to lower our appraisal and saved a few thousand. This year's market value is up 41%. Yikes! Coincidence?
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.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.
Furlock Bones said: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.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.
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.
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
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 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.