2016 BCAD Appraisals Posted (homeowner, residential, property)

[Montirob]

Originally Posted by Thetowguy

Why havnt you filed for homestead!

I have. It is the appraised (vs. assessed) value that has been jumping. My effective tax increase is limited to just over 10%, but I still protest to try and get the appraised value under that magic 10%. Last year was the first time I have not been successful (though I did get it down from a 22% increase to 12%).


The way the tax system is designed in Texas is broken - those that have helped revitalize older neighborhoods are punished with huge tax increases every year, with longtime home ownership discouraged. I don't mind paying 5% more a year, but 10% is absurd. Yes, I can afford it, but there are many in these gentrifying neighborhoods that can't.

[NeedCoffee]

As long as property taxes are the primary source of income for the local governments and schools, I think gentrification will be problematic for longtime owners. But I'm not sure there's a better solution. I would think that our high property taxes reduce the odds of a housing bubble and I suspect we'll collectively pay the same amount as a city whether it comes in the form of property tax, income tax, or sales tax.

When I was shopping for my last house I looked at various neighborhoods inside 410; some historic and others not. I only scratched the surface (we didn't buy in a historic district) but I read some information on a tax incentive available for homeowners in historic districts. Does anyone have firsthand experience with this?

[Chaka]

Originally Posted by NeedCoffee

As long as property taxes are the primary source of income for the local governments and schools, I think gentrification will be problematic for longtime owners. But I'm not sure there's a better solution. I would think that our high property taxes reduce the odds of a housing bubble and I suspect we'll collectively pay the same amount as a city whether it comes in the form of property tax, income tax, or sales tax.

When I was shopping for my last house I looked at various neighborhoods inside 410; some historic and others not. I only scratched the surface (we didn't buy in a historic district) but I read some information on a tax incentive available for homeowners in historic districts. Does anyone have firsthand experience with this?

The alternative to gentrification is not something most cities want (blighted inner cities with high crime, dilapidated houses...). But for people who buy what they can afford, based on their income, the jump (my house is now 3x more than we paid for it) in taxes is astronomical. My increase in income tax based on salary would not even come close.

The increase in property value does zero for the people actually living there.

Our efforts to get a tax free for 10 years (which we were told we'd have if we restored the house) pretty much failed. We filed, they ignored...we weren't savvy enough then to know how to fight it.

[Chaka]

Originally Posted by Montirob

I have. It is the appraised (vs. assessed) value that has been jumping. My effective tax increase is limited to just over 10%, but I still protest to try and get the appraised value under that magic 10%. Last year was the first time I have not been successful (though I did get it down from a 22% increase to 12%).
.

I've usually been able to get it down to the 10% increase. So doesn't change what I actually pay, but at least the next year, my baseline is $60-100K lower than it would be if I didn't fight it.

[DaLagniappe]

Is it possible to protest the appraisal to get a reduction? We just moved in and the previous owner never protested while renting out the home. The appraised value is easily $40k above market and around $80k over similar homes nearby.

[Montirob]

Originally Posted by DaLagniappe

Is it possible to protest the appraisal to get a reduction? We just moved in and the previous owner never protested while renting out the home. The appraised value is easily $40k above market and around $80k over similar homes nearby.

If you just bought the home, BCAD will accept the purchase price as proof to lower the appraised value. A neighbor did that just last year.


By the way, the Express News had an article in today's paper. Average residential increase for the area is 7.5%. I will say, however, that the legislative director for the Texas Association of Realtors was very condescending in the article - he did not help their reputation at all. The spokesperson for the appraisal district (the "enemy") actually came across as likeable.

[cbeltran428]

So does the appraisal value really not affect resale value? My property value went up $10K from last year, but the current value doesn't seem unrealistic and I'm pleased if it's worth that since it dropped initially when the housing market was down. My appraisal value was lower than what I paid for the house at that time. I'm just wondering if I should protest the increase if all it will affect is my taxes or leave it alone.

[TexasRedneck]

All the appraised value is for is a guess to base your property taxes on. The lower it is, the lower your taxes are. Ideally, it'd be valued a $5, and worth $500k! So, no - the appraised value has NO bearing on what you can sell the property for. Fight 'em each and every time they want to increase it.

[austindoxie1972]

Until commercial property is properly valued and taxed....there will be no change. Great EN article quotes --

"The Bank of America building at 300 Convent sold in December 2014 for $105 million. Bexar County had it valued at $57 million.” Bexar County had $19 billion in 2015 commercial valuation tied up in litigation.

[Paka]

Originally Posted by austindoxie1972

Until commercial property is properly valued and taxed....there will be no change. Great EN article quotes --

"The Bank of America building at 300 Convent sold in December 2014 for $105 million. Bexar County had it valued at $57 million.” Bexar County had $19 billion in 2015 commercial valuation tied up in litigation.

THIS POST is SOOOOO valid! Unless and until the voters/owners of homes in SA start questions these practices thru their elected officials, EXPECT to pay the offset for these "devalued" properties!!!!!