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Old 10-11-2014, 03:36 PM
 
2,602 posts, read 2,961,116 times
Reputation: 997

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Quote:
Originally Posted by gpurcell View Post
2010: COA tax rate 0.45710000
2014 COA tax rate 0.48090000

But, yeah, I'm SURE assessed valuations in Austin have shrunk a lot between those two data points!
2009: values go up, rate goes down (40.34 cents to 40.12 cents)
2010: values go down, rate goes up ( 40.12 to 0.45710000)
2011: values go down, rate goes up (0.45710000 to 0.48110000 )
2012: values go down, rate goes up (0.48110000 to 0.50290000 )
2013: values go up, rate goes down (0.50290000 to 0.50270000 )
2014, values go up, rate goes down (0.50270000 to 0.48090000 )


Every single year for the past 6 years, values and rates have moved opposite.

Are you done being wrong now?
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Old 10-11-2014, 07:16 PM
 
10,130 posts, read 19,792,628 times
Reputation: 5815
Technically Novacek is exactly right, but if you look carefully, we always get a tax increase. How?

Say property values go up 10%. Rate goes down, say, 2%. That's like a tax increase of 8%.

Say property values go down 3%. Rate goes up 8%. Another tax increase of 5%.

Technically the rollback law protects us from huge effective tax increases in a single year. But it still allows increases of a certain amount. Look at it by percentages, and you'll see why you are paying more each year.
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Old 10-11-2014, 08:38 PM
 
Location: Austin, TX
15,237 posts, read 35,431,654 times
Reputation: 8572
Quote:
and you'll see why you are paying more each year.
Many times over the past 15 years, our actual tax bill went down. Yes, it went up sometimes, but also went down sometimes.
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Old 10-11-2014, 08:50 PM
 
Location: Round Rock, Texas
13,437 posts, read 15,347,491 times
Reputation: 18959
The ONLY times my tax bills went DOWN were during the years that I had representation. Somehow, some way, the taxes went up each year even in the recession years. Now the school rate is basically back where it was before. Even with representation, this year my taxes are up but only by 10k. Without representation, it'd be much more.
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Old 10-11-2014, 08:54 PM
 
Location: Paranoid State
13,044 posts, read 13,787,723 times
Reputation: 15837
One of the fundamental characteristics of a bubble is that it is almost impossible to tell during the bubble itself. Only after the fact, when you see the carnage, can you say "yep - that really was a bubble."
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Old 10-11-2014, 09:44 PM
 
10,130 posts, read 19,792,628 times
Reputation: 5815
Quote:
Originally Posted by Trainwreck20 View Post
Many times over the past 15 years, our actual tax bill went down. Yes, it went up sometimes, but also went down sometimes.
If we're talking about the last 15 years, then I'm with you. I experienced the same thing, during a stretch where my property valuation basically stayed the same. But in the past 4-5 years, it's always gone up. If my valuation stayed flat, the rate went up. If it had a huge increase, like the last two years, the rate went down but not nearly as much as the valuation went up. So the tax bills were always higher.
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Old 10-11-2014, 10:40 PM
 
Location: Austin, TX
15,237 posts, read 35,431,654 times
Reputation: 8572
Yeah, I know it can vary a lot, but a lot of people are looking at a specific year or a specific case. For me, it is more important in the long run. My property taxes have gone up less (significantly less) than my income increased over the last 15 years. Yes, it will 'catch up' at some point (possibly in two years, hard to tell), but in the meantime, I have 'saved' a bunch compared to a theoretical income tax. Anyway, I expect my tax bill should at least increase by inflation on an annual basis.
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Old 10-12-2014, 07:56 AM
 
Location: The People's Republic of Austin
5,184 posts, read 7,240,558 times
Reputation: 2575
Quote:
Originally Posted by atxcio View Post
Technically the rollback law protects us from huge effective tax increases in a single year. But it still allows increases of a certain amount.
Eight percent/yr, which means the rate can double in nine years. When in the last twenty years has the total tax base of any entity in the Austin area gone down? So why hasn't the rate stayed flat or lowered?

Thinking the rollback provision protects taxpayers, writ large, is foolishness.
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Old 10-12-2014, 11:15 AM
 
Location: SW Austin & Wimberley
6,330 posts, read 17,982,821 times
Reputation: 5531
Quote:
Originally Posted by SportyandMisty View Post
One of the fundamental characteristics of a bubble is that it is almost impossible to tell during the bubble itself. Only after the fact, when you see the carnage, can you say "yep - that really was a bubble."
It's actually not impossible, but quite obvious. Easy lending + speculative demand. It's not complicated.

I do think normal appreciation and strong demand can feel and look like a bubble. But, for example, if you look at the "winners" in all the multiple offer situations we've seen over the past few years in Austin, and you ask "why are they buying and where did they get the money?", you'll see that they are buying for a legitimate reason, like to live there, and that they were qualified for the loan. That was not at all the case in the last real estate bubble.

Again, I can't emphasize how stupid these "news" releases are. It's not journalism, it's click bait meant for a specific purpose, targeted at today's consumer of such "information".

Steve
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Old 10-12-2014, 04:26 PM
 
1,430 posts, read 2,362,773 times
Reputation: 832
Quote:
Originally Posted by Novacek View Post
2009: values go up, rate goes down (40.34 cents to 40.12 cents)
2010: values go down, rate goes up ( 40.12 to 0.45710000)
2011: values go down, rate goes up (0.45710000 to 0.48110000 )
2012: values go down, rate goes up (0.48110000 to 0.50290000 )
2013: values go up, rate goes down (0.50290000 to 0.50270000 )
2014, values go up, rate goes down (0.50270000 to 0.48090000 )


Every single year for the past 6 years, values and rates have moved opposite.

Are you done being wrong now?
Again, there has been a massive increase in valuation from 2010 to 2014 and tax rates are up as well.

So, again, you are simply wrong.
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