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Old 07-11-2015, 08:28 AM
 
11,672 posts, read 21,240,989 times
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Quote:
Originally Posted by Redriver65 View Post
The psychological jolt of a 35% y2y hike in property taxes is a major shock. I hope everyone has their homestead exemption in place by now. When you consider how much more home is afforded in a lower property tax state, it stings a little. I'm 45 miles out and being affected.
Do the lower property tax states have a state income tax? You have to compare your total tax burden, not just look at one component to determine whether you'd have more to spend in another state.

 
Old 07-11-2015, 08:33 AM
 
Location: Dallas, TX
472 posts, read 308,456 times
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Quote:
Originally Posted by Redriver65 View Post
The psychological jolt of a 35% y2y hike in property taxes is a major shock. I hope everyone has their homestead exemption in place by now. When you consider how much more home is afforded in a lower property tax state, it stings a little. I'm 45 miles out and being affected.
In addition to what TC80 noted, are you comparing comparable metro areas in low property tax states? You can't compare DFW (one of the 10 largest metros in the U.S.) to somewhere like OKC as an example.
 
Old 07-12-2015, 05:40 AM
 
4,231 posts, read 2,541,333 times
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Quote:
Originally Posted by RJ312 View Post
I look at something like this as a rather thorny issue. I believe that unfettered growth has consequences.

We have a good problem in DFW. People actually want to live here, unlike Detroit or Flint, MI. We have a pro-business climate here with many Fortune 500 HQs in the area. The no state income tax is huge.

Natural resources are finite though. We have had water issues in recent years. The recent rains are just a reprieve in a long term problem.

I am intrigued with the idea of an urban growth boundary. Cities like Portland, OR and Boulder, CO have had them in attempts to control sprawl. I think this region needed some modification of this idea many years ago. Cities like Frisco and McKinney have grown too fast. Look at these stats.

Frisco:
1990 Population: 6,138
2015 Population: 149,140 (Demographics)

McKinney:
1990: 21,283
2015: 155.142 (http://www.mckinneytexas.org/DocumentCenter/View/497)

That's just insane growth. Some form of an urban growth boundary would have prevented this and prevented all of the pretty prairie land in that area from being torn up. With reasonable growth, Frisco should have had a population like maybe 30,000 today and McKinney maybe 50,000. It would have been much better if the growth in this region would have been concentrated over less land mass. I would have rather seen more infill growth and building upwards in the urban core (which is happening, there's always some high rise under construction around Uptown/Downtown). As urban development pushes further and further north towards Oklahoma, older neighborhoods tend to suffer due to neglect as well. Not to mention that there's also the risk of tornado damage the further north with building as this is at the southern edge of tornado alley.
Bad news is there are still plenty of lands up north.

I wonder where all these people came from??

From TX or other states??
 
Old 07-13-2015, 12:55 PM
 
Location: Nashville, TN
1,894 posts, read 1,078,538 times
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Quote:
Originally Posted by Redriver65 View Post
The psychological jolt of a 35% y2y hike in property taxes is a major shock. I hope everyone has their homestead exemption in place by now. When you consider how much more home is afforded in a lower property tax state, it stings a little. I'm 45 miles out and being affected.
It's interesting to read this.

Coming from Chicago, we can get a home 33% bigger than our current, 20-30 years newer, same school quality, and still end up saving $150k+. Or if we did a lateral move (same square footage, age, school districts, etc), it would literally cut our home cost in half.

What 'stings' to one person is an amazing opportunity for another.
 
Old 07-13-2015, 12:59 PM
 
Location: Dallas, TX
2,828 posts, read 3,387,228 times
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Quote:
Originally Posted by numberfive View Post
It's interesting to read this.

Coming from Chicago, we can get a home 33% bigger than our current, 20-30 years newer, same school quality, and still end up saving $150k+. Or if we did a lateral move (same square footage, age, school districts, etc), it would literally cut our home cost in half.

What 'stings' to one person is an amazing opportunity for another.
It also depends on what area of Chicago you're in and what area of DFW you're looking in. I've found a multitude of homes in Chicago suburbs with 2000+ sqft in highly rated public schools in the 2-300's.
 
Old 07-13-2015, 01:06 PM
 
25 posts, read 24,584 times
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How much more population can Dallas support? What about upcoming areas like Frisco, McKinney etc where there is new construction? Can they grow and get returns considering there is huge margin to grow and buy a new home vs an old one.

Schools are a major concern... Still we are only discussing a handful of HP, SL, Plano, Coppell and Flower Mound in Dallas area with supporting areas that feed back to same ISDs.

What are some areas to buy or lookout for? Please share. Am sure many are interested but those days of $200-ish homes are long gone and probably touching $400k+ with huge houses.

Considering history of these area HP, SL, Plano, Coppell and Flower Mound, how long does a city take to mature?
 
Old 07-13-2015, 01:09 PM
 
Location: Dallas, TX
2,828 posts, read 3,387,228 times
Reputation: 1815
Quote:
Originally Posted by neuser View Post
How much more population can Dallas support? What about upcoming areas like Frisco, McKinney etc where there is new construction? Can they grow and get returns considering there is huge margin to grow and buy a new home vs an old one.

Schools are a major concern... Still we are only discussing a handful of HP, SL, Plano, Coppell and Flower Mound in Dallas area with supporting areas that feed back to same ISDs.

What are some areas to buy or lookout for? Please share. Am sure many are interested but those days of $200-ish homes are long gone and probably touching $400k+ with huge houses.

Considering history of these area HP, SL, Plano, Coppell and Flower Mound, how long does a city take to mature?
It seems a few decades. Maybe 2-3 to really ramp up price, then it will continue to grow at a steady race. Southlake came onto the scene (from what I remember) in the 90s. Plano really started growing in the 70s, etc.
 
Old 07-13-2015, 01:13 PM
 
25 posts, read 24,584 times
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Quote:
Originally Posted by bencronin04 View Post
It seems a few decades. Maybe 2-3 to really ramp up price, then it will continue to grow at a steady race. Southlake came onto the scene (from what I remember) in the 90s. Plano really started growing in the 70s, etc.
Considering the property tax and insurance costs, have the residents made so much returns on their property?
 
Old 07-13-2015, 01:20 PM
 
Location: Dallas, TX
2,828 posts, read 3,387,228 times
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Quote:
Originally Posted by neuser View Post
Considering the property tax and insurance costs, have the residents made so much returns on their property?
It's not so much how much they have made....it's how much they were able to get back vs. renting.

You seem to be stuck on that topic. My parents built a house in the mid early/mid 90s in the Park Cities on a lot my Dad already owned. The ended up selling in 2004 for slightly under 700K. You can't find a house in the area right now for under a million, while CAD has is appraised just over 800K. Selling costs on a house are usually higher than what the appraisal district has on record until after the sale is complete.

So those people that purchased the house from my parents have had that asset increase in net worth over 300K in 10 years, while only paying about 160K into property taxes.
 
Old 07-13-2015, 04:02 PM
 
Location: Nashville, TN
1,894 posts, read 1,078,538 times
Reputation: 1519
Quote:
Originally Posted by bencronin04 View Post
It also depends on what area of Chicago you're in and what area of DFW you're looking in. I've found a multitude of homes in Chicago suburbs with 2000+ sqft in highly rated public schools in the 2-300's.
Where? Are you a magician?

Seriously though, are you talking about updated homes close to the city, or major fixer uppers 60 miles outside of Chicago? When I look at areas, I'm comparing the Planos and Richardsons of TX to the Napervilles, Evanstons, and Barringtons of IL. GreatSchools rankings of 9's and 10's for ele/jr/high schools. What Chicago suburbs have those same 9's and 10's for homes in the $2-300k range?

If you don't want to derail the conversation, please send me a PM. If you can show me some of those areas, I'm definitely sending beer money your way, no joke.
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