Family thinking of moving to Texas from Los Angeles.>Need some Feedback< (Houston: comparable sales, sales)

[swopoe]

As for the property taxes, yes, they are high. But you have to remember that we also have no state income tax. That is a very big deal.

[So.Cal. To TX]

Originally Posted by swopoe

As for the property taxes, yes, they are high. But you have to remember that we also have no state income tax. That is a very big deal.

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I understand this, but there seems to be no cap on the amount of increase the taxes can rise per year. Am I wrong on this?

[fnh]

Originally Posted by chmike

Hello,
We are also a biracial couple and moved from Glendale to Houston (The Woodlands) with kid some months ago. It was a very good decision and in glad we had the courage to do so.I want to emphasize two things which I find important:
1. Only move when you guys have jobs
2 . Houston has way cheaper housing. Use it!!! Don't go for the 500k mansion. We bought for 260 and hope to pay off in 5 years. House is still double the size of our Glendale house.

Wish you all the best

Chmike

This is a smart approach seldom recommended on C-D. We could afford to spend much more moving here from the PNW (had cash to buy outright and home cost fraction of income) but we can't justify spending more than necessary in Houston. Instead we use our housing savings here to buy in places we prefer for vacations and retirement, while still enjoying a spacious home in a beautiful neighborhood with good schools inside the beltway.

[mkwensky]

Originally Posted by Htown homie

Huh? You're saying that all of Houston's diverse races have assimilated into plain old Americans and have no culture of their own? But those in LA, NYC, San Fran and Chicago have maintained their diverse cultural differences? How did you come up with that?

Let's look at the "Hispanics" as an example. In Houston that term is pretty much synonymous with Mexican. I know there are Guatemalans, Colombians and others in Houston but they're all in the lower single digits. In New York for example you'll find neighborhoods composed of nationalities like Mexicans, Puerto Ricans and Dominicans.

Or look at the Asian population. In Houston that's mostly Vietnamese and Chinese. The Japanese population here is minimal, the Korean population is bigger but does not compare to So Cal. or NYC. There is a sizable Filipino presence here but the amenities that come with like restaurants and groceries tend to be low end. The difference is even more pronounced when you get down to the more "exotic" nations like Tibetans and Mongolians. To see for yourself just get on Yelp and compare the number of ethnic restaurants from the more exotic locations that can found in Houston vs NYC or LA.

[Htown homie]

Yelp? I think 90% of people in Houston have no idea what Yelp is and at least 3/4 of the ethnic restaurants are not listed on yelp. Just because you refer to Houston Latinos as Mexicans doesn't mean anything. There are so many Central Americans and South Americans in Houston that I am certain it is the most diverse city in the world solely amongst the Hispanic population. You are right that there are more Puerto Ricans and Dominicans in NYC and more Asians in San Fran. There are also more Cubans in Miami.

[swopoe]

Originally Posted by So.Cal. To TX

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I understand this, but there seems to be no cap on the amount of increase the taxes can rise per year. Am I wrong on this?

You can claim the homestead exemption for your primary residence. That will help. And taxes should not increase by more than 10% each yr.

[So.Cal. To TX]

Originally Posted by swopoe

You can claim the homestead exemption for your primary residence. That will help. And taxes should not increase by more than 10% each yr.

There is a 2% increase Cap in California per year..

10% is...wow

There are areas in Houston I see at 2.8% annually...when does it stop? 10% overall...


Its just a little concerning.

[swopoe]

I understand. It is concerning about property taxes. Something needs to be done about it. But for our family, the lack of state income tax with affordable housing still makes this a very affordable place to live. For now anyway.

[So.Cal. To TX]

Originally Posted by swopoe

I understand. It is concerning about property taxes. Something needs to be done about it. But for our family, the lack of state income tax with affordable housing still makes this a very affordable place to live. For now anyway.

Well let me ask you this-

Is the better strategy to buy a smaller house with more land/lot size, or vice versa? Obviously wanting to limit tax exposure the most.

I have done some light research on protesting your property taxes, namely because the county assessors don't really know what they are doing. Is this a viable strategy?

Also, my last mortgage, my property taxes were paid through Wells Fargo via my "impound" account if you k now what that means. Do people in Texas do this with their mortgages, or pay them directly allowing them the ability to protest the amounts?

Income properties:

I have seen VERY cheap 4-6 unit apartment buildings in the low 100's, which is very doable for me. As in California, are taxes assessed on income properties much higher?

Thanks for the feedback!

[mkwensky]

Originally Posted by So.Cal. To TX

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I understand this, but there seems to be no cap on the amount of increase the taxes can rise per year. Am I wrong on this?

There may be caps on the property tax rate in some jurisdictions but there is no cap on how much your property's valuation can increase. I know people who had to protest their valuation just about every year.

Originally Posted by Htown homie

Yelp? I think 90% of people in Houston have no idea what Yelp is and at least 3/4 of the ethnic restaurants are not listed on yelp. Just because you refer to Houston Latinos as Mexicans doesn't mean anything. There are so many Central Americans and South Americans in Houston that I am certain it is the most diverse city in the world solely amongst the Hispanic population. You are right that there are more Puerto Ricans and Dominicans in NYC and more Asians in San Fran. There are also more Cubans in Miami.

What are you basing this on?