Wilco Property Tax Notices of Appraised Value Now Available

[Trainwreck20]

Not really arguing, just discussing

Your taxes are what they are, but I am wondering if your escrow is out of sync with the taxes and maybe resulting in higher escrow than necessary.

The Texas Monthly article is way off in 'doubling taxes in 7 years'. If the actual entity budgets increase at the rate of 3%, then the average tax bill will increase approximately 23% over 7 years (as opposed to 100%). For homeowners, the rate will be slightly less. Bonds or other voted on increases would be above that, but even with an additional 2%, that would max out at 40% over 7 years.

[blameyourself]

Well we can agree on that. My taxes are what they are and they increased (and I suspect they will this year also and for the next few years minimum), despite debating what the article says or what is being argued about here. The tax rates are also available on line and the changes are miniscule. Not much more to say on it.

[Austin97]

Originally Posted by Trainwreck20

Not really arguing, just discussing

Your taxes are what they are, but I am wondering if your escrow is out of sync with the taxes and maybe resulting in higher escrow than necessary.

The Texas Monthly article is way off in 'doubling taxes in 7 years'. If the actual entity budgets increase at the rate of 3%, then the average tax bill will increase approximately 23% over 7 years (as opposed to 100%). For homeowners, the rate will be slightly less. Bonds or other voted on increases would be above that, but even with an additional 2%, that would max out at 40% over 7 years.

its a little more than 3% because the ISD is somewhat fixed around 1% (this is complicated why). so the ISD portion can increase by the full 10%, but the other parts should be around 3%, except that austin voters voted for project connect which is a permanent tax increase.

so in theory you should have about 50% at 3% and 50% at 10% which averages to around a 6.5% tax increase.

[Trainwreck20]

Originally Posted by Austin97

its a little more than 3% because the ISD is somewhat fixed around 1% (this is complicated why). so the ISD portion can increase by the full 10%, but the other parts should be around 3%, except that austin voters voted for project connect which is a permanent tax increase.

so in theory you should have about 50% at 3% and 50% at 10% which averages to around a 6.5% tax increase.

Or COULD, not necessarily will, even when net appraised goes up 10%.

the ISD is 'fixed' in the sense that it is being 'milked' under Robin Hood to fund the rest of the state

[Dub D]

I paid $5500 for the house I owned in 2021. I just looked it up, its just shy of $9000 for 2022.

So that 10%...

[Trainwreck20]

Originally Posted by Dub D

I paid $5500 for the house I owned in 2021. I just looked it up, its just shy of $9000 for 2022.

So that 10%...

Well, the new ownership - which releases the HSE cap - was presumably fully aware of the taxes when they bought it. And now they have the 10% appraisal cap.