The DFW area has the #1 U.S. home market, says Freddie Mac... (Dallas: 2014, how much)

[Johnhw2]

This increase is too high and represents a windfall for school districts pretty well built out and well funded as well as for cities in the same situation. Counties are seeing growth as most have other land for development and growth in services demands. But cities not seeing growth in services demand should find ways to hold cost flat and lower tax rates. Just my two cents

[Johnhw2]

[quote=Johnhw2;46702998]This increase is too high and represents a windfall for school districts pretty well built out and well funded as well as for cities in the same situation. Counties are seeing growth as most have other land for development and growth in services demands. But cities not seeing growth in services demand should find ways to hold cost flat and lower tax rates. Just my two cents.

Values in property have three options. I prefer slow steady price growth to the rapid runup we are seeing but if you never lived in a home underwater in value you would appreciate a rising price to the opposite. Flat is not a bad option either but it is close to a decline in value. Ive been there and done that prefer not to again.

[serger]

Originally Posted by Johnhw2

This increase is too high and represents a windfall for school districts pretty well built out and well funded as well as for cities in the same situation. Counties are seeing growth as most have other land for development and growth in services demands. But cities not seeing growth in services demand should find ways to hold cost flat and lower tax rates. Just my two cents

Yep.

Or at least, with the extra money find a way to fix the potholes on Parker, lol. Never ending work, and the same potholes are still there

[TurtleCreek80]

Originally Posted by Johnhw2

This increase is too high and represents a windfall for school districts pretty well built out and well funded as well as for cities in the same situation. Counties are seeing growth as most have other land for development and growth in services demands. But cities not seeing growth in services demand should find ways to hold cost flat and lower tax rates. Just my two cents

The bigger issue, IMO, is that in many cities the appraised "values" for commercial properties are way below market whereas the appraised values for residential are closer to reality. This is putting unfair burden on homeowners vs businesses.

I have no problem paying more money to teachers, cops, firefighters, improved roads, etc but would like the commercial owners to pull their weight. If they did, the overall tax rates could come down for homeowners.

[frisco19542]

Originally Posted by Katana49

So?

It makes no sense to complain about property taxes. Most cities around here have a property tax burden of about 2.5%. So if you're paying an extra $2,500 a year in property taxes, that means your home is now worth $100k more. You could live in your home for 4 years, pay an extra $10k in property taxes... and you're still $90k ahead even if your home value didn't continue to rise.

The people I see complaining about property taxes are usually the ones who bought more home than was wise, and they can't afford the higher payments. Even with them, if they don't like it, sell your home, downsize, or move farther out and cash in on your home's increased equity.

Only a fool or a someone who is getting money from property taxes would says this aka a city worker or Teacher. Unless you sell your home you do not see a dime of that money. So your costs are up with nothing to show for it.

My tax rate went from 8k to over 11k in a few years (over a 30% increase in 3 years) and the only reason it is not 20k is because I protested and have a homestead exemption. Frisco even had to gall to try and increase taxes on us this year. Thank god that didn't pass as it would have cost me over $1200 more.

At a certain point you have to wonder. I am very deep in Equity and have low payments but paying 20k a year to have a 100 million dollar stadium for Jerry jones is not something I am happy about. The problem is the whole area is like this. High property taxes kill small business as they have to pay it as well. The only ones getting breaks are the large companies.

I am not sure I am thrilled with this area is this continues. I moved here for low taxes and cost of living. Once I factor in Taxes I could easily spend a few hundred grand more for a similar house in a more expensive city and but have the same payment go towards principal.

[frisco19542]

Originally Posted by TurtleCreek80

The bigger issue, IMO, is that in many cities the appraised "values" for commercial properties are way below market whereas the appraised values for residential are closer to reality. This is putting unfair burden on homeowners vs businesses.

I have no problem paying more money to teachers, cops, firefighters, improved roads, etc but would like the commercial owners to pull their weight. If they did, the overall tax rates could come down for homeowners.

The smaller businesses do not get a tax break and are actually taxed on all their assets. The true tax break happens for corporations and people like Jerry Jones. He owns a lot land and it taxed at a lower rate for agriculture. When it comes out ag taxes it is supposed to be taxed back 5 years. But they give tax breaks to those developers who donate to school districts or trade land etc.

[Katana49]

Originally Posted by frisco19542

Only a fool or a someone who is getting money from property taxes would says this aka a city worker or Teacher. Unless you sell your home you do not see a dime of that money. So your costs are up with nothing to show for it.

Oh look, you stumbled upon the solution.

No one likes paying taxes, when you don't perceive you are getting anything in return. That is like paying federal income taxes, so bureaucrats can waste more of your money.

Property taxes, you're paying more, yes, but since it's based completely upon the value of something you OWN, you will always come out ahead. Don't like it? Sell your home and move.

And no, I'm not a fool, or a city worker or a teacher. Just someone with a Masters in Economics and over two decades of financial planning experience. Gaining equity is a GOOD thing. But I guess you are short-sighted with your finances.

[Lowexpectations]

Originally Posted by Katana49

Oh look, you stumbled upon the solution.

No one likes paying taxes, when you don't perceive you are getting anything in return. That is like paying federal income taxes, so bureaucrats can waste more of your money.

Property taxes, you're paying more, yes, but since it's based completely upon the value of something you OWN, you will always come out ahead. Don't like it? Sell your home and move.

And no, I'm not a fool, or a city worker or a teacher. Just someone with a Masters in Economics and over two decades of financial planning experience. Gaining equity is a GOOD thing. But I guess you are short-sighted with your finances.

With a masters in economics you should be able to conclude paying more in property taxes does not mean you will always come out ahead. You can easily come up with a scenario in which you paid x in taxes during a run up in value and then a decline in value eliminates or offsets any gain and thus out you behind.

[Katana49]

Originally Posted by Lowexpectations

With a masters in economics you should be able to conclude paying more in property taxes does not mean you will always come out ahead. You can easily come up with a scenario in which you paid x in taxes during a run up in value and then a decline in value eliminates or offsets any gain and thus out you behind.

You don't need a Masters in Econ to understand that paying $2,500 more in taxes for one year would mean your home value has increased by $100k. The possibility of a homeowner not being able to recoup that 2.5% increase in property taxes, even during a market downturn, would be infinitesimally small. The ONLY way that would happen is if you just sat on your property and did nothing for years while values dropped.

Maybe you do need a Masters to understand that. Shrug.

[Lowexpectations]

Originally Posted by Katana49

You don't need a Masters in Econ to understand that paying $2,500 more in taxes for one year would mean your home value has increased by $100k. The possibility of a homeowner not being able to recoup that 2.5% increase in property taxes, even during a market downturn, would be infinitesimally small. The ONLY way that would happen is if you just sat on your property and did nothing for years while values dropped.

Maybe you do need a Masters to understand that. Shrug.

You made a definitive statement which is not and could not always be correct. You are the one with the masters making a blatantly clear error. I don't need to have any degree to see the glaring mistake you made