TCAD 2010 Preliminary Values are live... (Cedar Park: new home, tax, appraise)

[woodinvilleguy]

Originally Posted by jobert

I don't know how some people are going to afford the taxes on these properties. Someone I know with multiple kids - who I am pretty sure only makes about 70K (tops), has a house appraised at 650K in central Austin, and it has gone up about 50K avg per year since they bought in 2002 (including about 40K this year). My rough guess is that he will have to pay somewhere between 13K and 16K in peroperty taxes alone. The 2010 appraisals will loosen up the housing market in central Austin, and I think this may be the intention. The result will be people force to sell for a huge profit, either move to the suburbs, or move into something half the size (or buy a 300K condo) central somewhere else. I think it's a ploy to densify the urban core along with the disregard for expansion of the freeways leading into town.

I don't intend on being an ass but people need to understand their cost of taxes and other costs for their house. I don't think it is a ploy to get people to move to suburbs. The only way to fight this is to do what California did in the 70's with Prop 13 and IMHO, that totally screwed up California and they are still paying the price for it. I was a kid when it happened and distinctly remember the school experience from the year with out it and the year with it.

My father-in-law refuses to move from his 3500+ sq ft home because his taxes would go up if he moved to a smaller place (it is just him). He would like to move but he is paying the same taxes as he did in the 70's on the house.

[jobert]

Originally Posted by woodinvilleguy

I don't intend on being an ass but people need to understand their cost of taxes and other costs for their house. I don't think it is a ploy to get people to move to suburbs.

I think it's the oppsoite - I think it's a ploy to get people to pack in more tightly. The typical homeowner in central Austin isn't using 13K worth of police officer, water mains, schoolteacher, etc. while someone in RR is using 3K worth of the same services. If someone is living in a 600K house central, while they could be living in a 300K condo in a high-rise, which decision do you think their property taxes are pushing them towards? They are also forced to sell, which further softens the house market, and fills up the condo market, spurring further demand, hence less infrastructure per capita, and the endgame: higher density. If more than than 50% of those who are forced to sell decide to stay central and downsize, then higher density will be achieved. If those living central have hung on through sky-high taxes, they obviously have chosen to live here because it serves their needs, and may continue to do so in a less expensive manner (read: smaller footprint)

[jobert]

and for people that live central, it's a lifestyle decision a lot of times. Some are die-hard urbanists that would rather die than move to the suburbs. I was borderline, but softened by having kids. When I moved here, it was like pulling teeth to get me to live more than 5 miles from downtown for the first time since I was born, but I did it. Some can't and probably never will.

[LookingtoLeave]

I was a first time home buyer this past November and I'm so confused about this whole property tax bill. When I closed on my house my property taxes came out to about $430/month. This is for new construction but not much has changed around the neighborhood but add'l houses being built. To be honest, my house is one of the smallest and with the least visible upgrades from the exterior as well as interior.

I was told by the title company and the mort broker at closing that that was a little high which wasn't necessarily a bad thing b/c then it would be cheaper in '10. Now I get my appraisal in the mail and it's appraised at an additional $2000 above last year's figure which is about another $160/ month. I don't see how they can appraise my house for $50k over what I paid for it in an undeveloped neighborhood. Not only that, I thought the cap was 10%, so how does that apply? I really don't know what to do. I've been told that with the way the market is most likely values will decrease and there are quite a few homes for sale in the community (Steiner Ranch). I can't fathom how an almost $200 increase per month came about, but I'm worried since I've heard you can protest but the chances of them decreasing it are slim to none.

Any advice? Thanks

[atxcio]

Originally Posted by LookingtoLeave

Not only that, I thought the cap was 10%, so how does that apply? I really don't know what to do. I've been told that with the way the market is most likely values will decrease and there are quite a few homes for sale in the community (Steiner Ranch). I can't fathom how an almost $200 increase per month came about, but I'm worried since I've heard you can protest but the chances of them decreasing it are slim to none.

Any advice? Thanks

If you closed in Nov '09, just take your HUD closing statement to the Traviscad office when you do your informal protest. They will adjust the appraised value down to what you paid, it's usually a 100% sure thing.

Have you received notice of your appraisal in the mail yet? The protest form is on that. If you don't get it in 2 weeks or so, make a trip out to TCAD and talk to them so you can be sure you submit your protest. You can pick up and fill out the homestead exemption form too (also available online). The requirement for homestead exemption is that you had to live in the house on Jan 1 of this year. Since you closed in Nov, this would be the first opportunity for you to apply for the homestead exemption.

Finally, remember there is no fee associated with the homestead exemption form, if you get anything in the mail asking for money to file it, it's a scam.

[LookingtoLeave]

Atxcio, yes I got my notice today in the mail and was so horrified b/c I can't afford another $160/month!!! However, to be honest, I'm confused about how to read this thing to begin with. There is a column w/ 2010 taxable values that range from $227k for Travis County all the way up to $284k for Travis Co ESD No 6 (have NO idea what that is). What confuses me furthermore is there are 2 completely separate values for the WCID. One for my particular water district then another larger value for the same water district in Steiner Ranch. I do not get it!!!

I looked on the TCAD website for info but they couldn't find my name or address, so I guess it just hasn't been updated there. Do you really think they'll adjust it down? I've heard they can be quite difficult.

Also, do you know if there's a fee to dispute it? I see where there's a fee for arbitration, but not sure if that's something different.

Thanks!

[calien]

Went in for my informal this afternoon and in about 30 minutes had my 3% decrease adjusted to a 10% decrease. With CMA info on a good # of true comps (I had 5) the decision is quite easy. At about 5% under my 2006 purchase price, I am satisfied I am w/n range.

[CptnRn]

Originally Posted by CptnRn

IN SW Austin one of my properties is showing no change and the other one does not have 2010 values inserted yet.

I received my official notice from TCAD in the mail today. Apparently I did not read the online information correctly.

Their estimate has decreased from
2009: $179,085 to
2010: $171,595.

A 4.18% decrease.

In a 1300 SF 3B, 2B home in West Creek, Oak Hill area, 78749.

[rangergrit]

Originally Posted by LookingtoLeave

Now I get my appraisal in the mail and it's appraised at an additional $2000 above last year's figure which is about another $160/ month.

I'm not understanding the math here. All taxes total about 2.6% in Austin. For +$2000 appraisal, that would add about $52 per year or $4+ per month. Where does $160 come from?

[CptnRn]

Originally Posted by rangergrit

I'm not understanding the math here. All taxes total about 2.6% in Austin. For +$2000 appraisal, that would add about $52 per year or $4+ per month. Where does $160 come from?

That is the Hippy Hollow View Corridor Tax.