Troof^
quote:My land value is double what it was 2 years ago.
My land value is up to $300K - literally double what it was when I bought it 8 years ago.
quote:You get a permit for that?
My improvements went up almost 50%. All I did to improve our house last year was kill a rat in the garage, kill termites in the deck and replace a toilet.
quote:Do you still need a permit if you did a ****ty job?quote:You get a permit for that?
My improvements went up almost 50%. All I did to improve our house last year was kill a rat in the garage, kill termites in the deck and replace a toilet.
(j/k ... I know you don't need one where you live)
quote:
You are fortunate to have had such a small increase last year.
quote:So what would make my bricks and sticks go up in value nearly 50% in one year?
"improvements" is referring to the bricks and sticks that were "improved" on the land it sits on. Just bc you made no improvements to the structure doesn't mean the value of those bricks and sticks have not gone up due to recent sales in your area. A lot of people get that terminology mixed up but the tax code definition is what I just described above.
quote:The housing market increasing?
So what would make my bricks and sticks go up in value nearly 50% in one year?
quote:I've looked up several houses with identical floor plans in my immediate area and they are all appraising for less than mine. Really strange is these houses are identical, but mine is showing 110sf more than theirs, despite being identical.quote:The housing market increasing?
So what would make my bricks and sticks go up in value nearly 50% in one year?
Lets say you bought your house for $200k in 2005. And let's say you've done nothing outside of general maintenance over those 10 years, but could sell that same house today for $350k. How could your house possibly go up in value? Is the increase in value 100% attributable to the increase in the dirt? What if there's been zero similar vacant land sales in your neighborhood since 2008 to prove what the dirt is actually worth?
Don't get too bogged down with the split out between residential land/imp values, it's largely a manipulated function to arrive at a total that's supposed to accurately reflect actual market value. If your total assessed market value is above what you believe it actually is, file a protest.
quote:According to HCAD they are not identical. You need to get a copy of the floor plan drawings they have on file for your home. Often, they are completely incorrect. Ours were our neighbors home, flipped over, which was nowhere even remotely close to our actual floor plan. Supplied them with the correct floor plan and got all figures adjusted accordingly.quote:quote:
I've looked up several houses with identical floor plans in my immediate area and they are all appraising for less than mine. Really strange is these houses are identical, but mine is showing 110sf more than theirs, despite being identical.
quote:
Well then you just found your argument for 2015.
quote:I'm not suggesting you aren't, but be sure you're comparing their market values to your market value. Appraised values can vary wildly, even on 'the same floor plans' for a variety of reasons and aren't applicable to an equity argument.quote:I've looked up several houses with identical floor plans in my immediate area and they are all appraising for less than mine. Really strange is these houses are identical, but mine is showing 110sf more than theirs, despite being identical.quote:The housing market increasing?
So what would make my bricks and sticks go up in value nearly 50% in one year?
Lets say you bought your house for $200k in 2005. And let's say you've done nothing outside of general maintenance over those 10 years, but could sell that same house today for $350k. How could your house possibly go up in value? Is the increase in value 100% attributable to the increase in the dirt? What if there's been zero similar vacant land sales in your neighborhood since 2008 to prove what the dirt is actually worth?
Don't get too bogged down with the split out between residential land/imp values, it's largely a manipulated function to arrive at a total that's supposed to accurately reflect actual market value. If your total assessed market value is above what you believe it actually is, file a protest.
Don't think that 110sf is worth 33% increase in value. And I've found several houses with the same floor plan, but all are appraised at a lower SF than my house.
quote:To clarify - I have never heard of HCAD changing the improved SF without sealed architectural drawings or the land SF without a sealed survey. I don't know if there is something else you could provide.
You have to have sealed architectural plans to challenge the SF. My house was built in the city of Kingwood. I can't find them now that the COH stole Kingwood.
RyanTheTemp found that HCAD has that our house was remodeled in 09 (year we bought) but no permits were pulled so I am going to challenge that.