Howdy Ags!

I'll be using this to thread to post any news about our upcoming 2023 property taxes. After Hays CAD was caught using ABOR's MLS site, I'm curious to see if there will be a reduction in my property tax for Hays County. Stay tuned!

The deadline to apply for a homestead exemption is on April 30th. The deadline to protest is on May 15th or 30 days after the notice of value was delivered to the property owner, whichever is later.

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The fight over property tax cuts in the Texas Legislature

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Texas House's property tax bill calls for $17 billion in cuts, tighter appraisal cap

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Report: Austin listed among cities with highest property taxes in US

Lt. Gov. and Speaker agree on property tax relief but not the route to get there

Overall home values in Williamson County decline

6 things to know about the Texas House's $17B plan to cut property taxes

Property appraisal values up 24% in Hays County

Largest Tax Cut in State History

Williamson County values are out as of 4/1.
Travis County values are out as of 4/14.
Hays County values are out as of 4/20.

My house is still valued WAY below what it's actually worth in 78758

I know how you feel. My mom and dad are moving back to Mexico when they retire, they know with all their savings and SS they cant afford it here in Austin or outside. I have lots of family doing the same thing. Buying land and building homes in Mexico.

This is the most expensive city in Texas. Not quite sure if buying land and building in Mexico is the only play here.

El_Guero512 said:

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I know how you feel. My mom and dad are moving back to Mexico when they retire, they know with all their savings and SS they cant afford it here in Austin or outside. I have lots of family doing the same thing. Buying land and building homes in Mexico.

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My parents wanted to move back to texas (Georgetown) cause my family lives in Austin. They were able to buy a house but I am paying the property taxes….

It sucks for poor people who are passed on property taxes through rent and retirees living on a fixed income.

500,000ags said:

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This is the most expensive city in Texas. Not quite sure if buying land and building in Mexico is the only play here.

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Parts of Houston metro and Dallas metro have higher taxes… oddly El Paso too

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Florida has no state income taxes and low property taxes.

We need to follow their model.

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What is their model?

I'd like to retire in Puerto Rico one day. I've read that it's a tax haven. There are also other articles that state that it can be risky. I still have a long time to retire so I'll continue reading up on it.

Is Puerto Rico a tax haven?

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Puerto Rico is a US territory, which means that all income generated in Puerto Rico is exempt from additional US federal tax. Other tax advantages: Under Act 22 (Individual Investors Act), qualifying Puerto Rico residents are 100% exempted from capital gains tax.

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I hear Westlake has low property taxes compared to Austin.

https://www.austinchamber.com/economic-development/taxes-incentives/property-tax

Only problem is finding a house under million in Westlake that isn't a gut job.

Apache said:

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Florida has no state income taxes and low property taxes.

We need to follow their model.

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What is their model?

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I think they make a massive amount off hotel/short term rental taxes.

I don't know if Texas has enough tourism to use this model.

Well one good thing - is lower property values - will our tax bills lower. Will be interesting to see how much various CADs will allow for property values to drop versus the insane increases.

Looks like Five Stone is changing their pricing schedule slightly again. I haven't seen any benefit from using them over the past 2-3 years and just pay their flat fee.

Is anyone using another protest service that they recommend?

I'm in the same boat as Aggietaco. Been using Five Stone but haven't really seen any benefit in the years I've been using them.

I get the market changing back in 2020 but I was thinking of switching as well.

It's April 1st! Property taxes should be rolling out. I just checked Williamson County Appraisal District and it seems like they have the new tax assessment values out. A property that I'm working on just had a 10% increase in their tax assessed value even though the WCAD market value dropped 4.7% YOY.

This is the tax protest service I use. They still use the model of only charging if they save you anything. Used them the last few years and really like them.

https://www.taxprotestmap.com/invite/cqhulk4b98

Thanks for the referral! Nothing to lose!

Here's my referral link in case someone else wants to sign up as welll!

https://www.taxprotestmap.com/invite/m3gdkb7et9

Williamson county is out.

Red Pear Felipe said:

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It's April 1st! Property taxes should be rolling out. I just checked Williamson County Appraisal District and it seems like they have the new tax assessment values out. A property that I'm working on just had a 10% increase in their tax assessed value even though the WCAD market value dropped 4.7% YOY.

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That's because of the cap. Last year, the assessed taxes were way less than the 'market value'.

Another interesting note is that a fellow TexAgs member called me asking about his property taxes. I am by no means a property tax expert, but I did my best to help him out. He also helped me out after he called WCAD to get some clarification.

To start off, forgive my ignorance on the matter. So I was under the impression that the new owner of a home kept the same tax assessment as long as the homestead exemption was filed with the county. I was wrong! Looks like if the previous owner had their taxes capped at $400K and sells to the new owner, then the county looks at the new numbers and bases his taxes off of that. So if the county says the new assessment is $500K, then that's what the new owner pays off of. I assumed it would only be 10% capped moving forward as long as the HE was filed.

This is generally correct for most tax-related items - basis. Basically, when a transaction occurs - the basis or taxable value is updated - it happens in M&A, and other related transactions (i.e. selling your home) as well. Something to consider when buying or selling is where the basis will land up being - because that could affect your cash tax outflows going forward.

Which year are you referring to?

If Joe Schmoe buys a house in May 2022, the property will keep the exemptions for the entire 2022 year (unless the previous owner requests them removed at date of purchase, important if the seller has senior or DV exemptions).

When the property is appraised for the value as of Jan 1, 2023, the buyer does not get the 10% cap for that full first year. If the 2022 value was $150,000 and the 2023 value is $700,000, the buyer must pay 2023 taxes on the $700,000 value. Sometimes you can argue the 2023 value down to the purchase price, but some counties didn't allow that last year.

Overall home values in Williamson County decline

BTHOB-98 said:

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Williamson county is out.

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Just got my notices on commercial properties we have in Georgetown, Liberty Hill and Round Rock. Absolutely RIDICULOUS! Liberty Hill was the worst by far.

Any good property tax consultants on here?

www.texasprotax.com

I believe they take 40% of what you save. You also have to pay a start up fee. I'm sure there are others that don't charge a start up fee.

Red Pear Felipe said:

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www.texasprotax.com

I believe they take 40% of what you save. You also have to pay a start up fee. I'm sure there are others that don't charge a start up fee.

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See my post above. I moved away from protax after they changed their pricing model. I really like these guys:

https://www.taxprotestmap.com/invite/cqhulk4b98

Appraised in Wilco for more than 100k over what we paid six months ago. Looks like we can submit a settlement statement and likely get it reduced without a formal protest.

Also good to know about ProTax, I'll have to look at another service.

fig96 said:

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Appraised in Wilco for more than 100k over what we paid six months ago. Looks like we can submit a settlement statement and likely get it reduced without a formal protest.

Also good to know about ProTax, I'll have to look at another service.

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Do you have an appraisal at or near your purchase price? I don't think they can dispute an appraisal by a professional appraiser.

KT 90 said:

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fig96 said:

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Appraised in Wilco for more than 100k over what we paid six months ago. Looks like we can submit a settlement statement and likely get it reduced without a formal protest.

Also good to know about ProTax, I'll have to look at another service.

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Do you have an appraisal at or near your purchase price? I don't think they can dispute an appraisal by a professional appraiser.

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What they can do is apply a monthly multiplier from the month of purchase to Dec. Travis County absolutely hosed my parents on this last year. Each month from May to Dec was subject to a ~10% increase in value. Ridiculous.

I think this year people will have more luck with submitting the purchase price though.

jopatura said:

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KT 90 said:

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fig96 said:

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Appraised in Wilco for more than 100k over what we paid six months ago. Looks like we can submit a settlement statement and likely get it reduced without a formal protest.

Also good to know about ProTax, I'll have to look at another service.

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Do you have an appraisal at or near your purchase price? I don't think they can dispute an appraisal by a professional appraiser.

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What they can do is apply a monthly multiplier from the month of purchase to Dec. Travis County absolutely hosed my parents on this last year. Each month from May to Dec was subject to a ~10% increase in value. Ridiculous.

I think this year people will have more luck with submitting the purchase price though.

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10% a MONTH? wth, that is total bs.

KT 90 said:

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fig96 said:

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Appraised in Wilco for more than 100k over what we paid six months ago. Looks like we can submit a settlement statement and likely get it reduced without a formal protest.

Also good to know about ProTax, I'll have to look at another service.

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Do you have an appraisal at or near your purchase price? I don't think they can dispute an appraisal by a professional appraiser.

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We don't unfortunately, was a new build so no real point in getting an appraisal at purchase.

Question: I'm seeing an almost 15% increase on a house we just bought in late fall, BUT it's still lower than what we paid. Trying to figure out if we should (1) still submit a protest since some tend to routinely do it on principle or (2) be thankful they didn't use the purchase price and just stay quiet….

Travis county out. 4% increase on our value.