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I've only had property taxes decrease on one of my houses, and only for 2 years in a row. It was due to the devaluing of all the houses in that area. While I liked paying less in taxes, I wasn't thrilled about what the city felt houses in that area were doing.
We have had a lot of property tax decreases in the Triangle, where Nick is, too.
We only re-assess in full every 8 years, and the 2016 assessments came in lower than the 2008 assessments.
Add in a growing commercial tax base, and many people saw up to 10% decrease in property tax on their homes.
We have had a lot of property tax decreases in the Triangle, where Nick is, too.
We only re-assess in full every 8 years, and the 2016 assessments came in lower than the 2008 assessments.
Add in a growing commercial tax base, and many people saw up to 10% decrease in property tax on their homes.
Weird.
What's going on in your neck of the woods? Housing prices falling?
What's going on in your neck of the woods? Housing prices falling?
Nah....pretty much the opposite.
We are one of the fastest growing, highest education attainment, modern/'diversified economies in the nation.
In my modest condo development with a 5 minute commute to UNC, a 15 minute commute to Duke, and a 20 minute commute to Research Triangle Park...units are now selling for 15-20% over what I paid just last July.
Demand and prices are increasing even more dramatically in single-family neighborhoods with similar proximity to the regions job centers.
With all of that growth....property tax rates are able to remain stable or even decrease while housing values increase.
The "dark side" of this scenario is that it had probably never been more difficult for most buyers to get a house with all of the competition.
We have had a lot of property tax decreases in the Triangle, where Nick is, too.
We only re-assess in full every 8 years, and the 2016 assessments came in lower than the 2008 assessments. Add in a growing commercial tax base, and many people saw up to 10% decrease in property tax on their homes.
Quote:
Originally Posted by Volvo Driver
Weird.
What's going on in your neck of the woods? Housing prices falling?
See the bold above.
It is hard to overvalue the impact of a solid tax base, with commercial contributing.
See the bold above.
It is hard to overvalue the impact of a solid tax base, with commercial contributing.
Ahhhh... That's good. I just wondered if there was a negative behind the positive - like tax assessments going down while rates went up, or if commercial zoning was encroaching on residential.
Quality of life has a certain value. I don't look at a home as an investment for financial reasons but a home to be happy and feel safe in. I'm single and I'm building my own home as I can afford it. It'll be under 600 square feet all done so small. But enough for a single, outdoors person. A house doesn't need to be big especially for a single person. If I want more room I can add on. I won't have a bunch of neighbors on top of me I may or may not trust or tolerate. I'm paying $300 a month for the land. 10 acres. Not the cheapest property I looked at but not the most expensive either. I have 15 years to pay it off but want it paid off sooner. An apartment in the area would be 700-800 or more a month. And rent goes up all the time. Taxes should stay under $1000 when the place is done though I'm sure that will go up in time no doubt. I have a nice trout brook on the lot. Plenty of firewood (small dying trees here and there). Plenty of privacy. I can see the white mountains from my porch. I can have my large gardens I enjoy having. I've got fruit trees planted in some orchards. I've got a small maple sugaring operation going. My closest neighbor is a half mile away. I have absolutely no desire to rent. If someone didn't want to start from scratch you can troll the ads on craigslist, local papers, and go by word of mouth looking for a fixer upper. There's a 150 year old house down the road from my place for sale for under $20K. It isn't bad but it'll need plumbing put in. It's a 19th century time capsule other than the new wiring put in recently. Easy DIY work really if you take your time. It's crossed my mind to make an offer on it and flip it but 2 projects at the same time is a bit much.
Nonsense. A higher income only affects the price at which a buyer can purchase, not the ability to purchase or the process of purchasing.
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