Travis CAD Values Are Online (Austin, Lakeway: sales, lease, HOA)

[watertank]

Oh Joy, 17% increase (Lakeway).

We use a service every year and they get them reduced so we're hoping the trend continues...

[Trainwreck20]

Ours is up 5.4% in SW Austin. The value looks somewhere around where we would sell it, but close enough that I will take a look at some comps.

[Austin97]

100K increase for me

[eqshadimar]

17% increase? Shouldn't your homestead exemption cap it at 10%? They tried to increase mine by almost 20% but the HS cap kicked in to limit it to 10%.

[Trainwreck20]

Originally Posted by eqshadimar

17% increase? Shouldn't your homestead exemption cap it at 10%? They tried to increase mine by almost 20% but the HS cap kicked in to limit it to 10%.

That is the different between appraised and assessed. The appraisal can go up without limit, but the value assessed for taxes is capped at 10%.

[watertank]

Originally Posted by eqshadimar

17% increase? Shouldn't your homestead exemption cap it at 10%? They tried to increase mine by almost 20% but the HS cap kicked in to limit it to 10%.

Yeah, the cap will save us a nice chunk this year.

We were a little under valued, now I think we're a little over valued. We'll see what the tax service can do for us.

[unihills]

I close on a house next week, it's now appraised at $60k over my purchase price.

2018 appraisal was actually right at my purchase price, 2019 numbers weren't out yet when I made my offer.

Seems a bit aggressive to me, no way in heck it could sell for 2019 appraisal.

I thought Travis CAD used comps to establish value?

[Trainwreck20]

Originally Posted by unihills

I close on a house next week, it's now appraised at $60k over my purchase price.

2018 appraisal was actually right at my purchase price, 2019 numbers weren't out yet when I made my offer.

Seems a bit aggressive to me, no way in heck it could sell for 2019 appraisal.

I thought Travis CAD used comps to establish value?

TravisCAD cannot legally access the MLS sales numbers directly, so they go on very spotty data. TBH, they get most of their data when people protest their taxes and bring in comps from the MLS.

In any case, you should be able to use your purchase price as your appraised value.

[TexasHorseLady]

Originally Posted by unihills

I close on a house next week, it's now appraised at $60k over my purchase price.

2018 appraisal was actually right at my purchase price, 2019 numbers weren't out yet when I made my offer.

Seems a bit aggressive to me, no way in heck it could sell for 2019 appraisal.

I thought Travis CAD used comps to establish value?

Contest it. Take your closing documents with you. It's supposed to be as of January 1, so three months before and three months after, but given this market and with your evidence they will likely lower it. Just in case, get your agent for the sale to give you comps for the house that support your sales price and no more.

[Trainwreck20]

Interesting thing I ran across today - on a specific street in our area, there is apparently a STR operating and irritating some of the neighbors (noise, trash, and blocking thee street with lots of cars being the main complaints). I do not live there, but was curious if it claimed a HSE. It does not, but neither do five houses on that street where the home address and the owner address are the same - presumably, they live there, but possibly they have moved and just not change their mailing address. In an case, one of them has not claimed an HSE for likely 15 years - that is a lot of money on the table!

As to the STR, it does not appear to be registered with the city but can be found on at least one STR site. In addition, the HOA has minimum lease requirements (90 days) with penalties established per day that it is advertised for a shorter term. I am curious to how that all plays out.....