2017 BCAD appraisals are out! (loan, home, purchase)

[TexasRedneck]

That SHOULD have been addressed at the closing. Call your Realtor and tell them the closing company screwed up and THEY need to fix it ASAP.

[juststart]

Originally Posted by TexasRedneck

That SHOULD have been addressed at the closing. Call your Realtor and tell them the closing company screwed up and THEY need to fix it ASAP.

We discussed it but there was no appraised value for the house at the closing day. So the previous owner only paid tax for the land. Closing company told me once 2017 appraisal comes out it is fixed.
My question is how.
And if the previous owner won't pay, it will be on me?

[CAJH]

Regarding post 13 about raising homestead property taxes more than 10%.

http://www.appraisaldistrictguide.co...d-maximum.html

[ged_782]

Originally Posted by CAJH

Regarding post 13 about raising homestead property taxes more than 10%.

Assessed Value Maximum | Texas Appraisal District Guide

Just to be clear, the assessed value of my home (with the Homestead Exemption), has been raised by more than 10% for the last three years in a row. However, due to the Homestead Exemption I am claiming, the increase in taxable value had to be limited to a 10% from one year to the next.


So if my assessed value were to be unchanged next year, I will still have an increase in taxable value as well as taxes, because they will then be catching me up on the previous years assessments that were over the 10% cap.


To give you an example of how this works, I protested the proposed 19% (IIRC) increase in assessed value on my homestead in 2015, which of course was limited to a 10% increase in taxable value. The best I could get was a reduction in the proposed assessment to a 12% increase. Still exceeded the 10% annual increase, so that netted me a $0.00 savings off the proposed tax increase that year for my efforts. In 2016, the assessment was increased over BCAD's initial proposed 2015 assessment, so another 10% cap was hit that year, and then another 10% cap this year. And the amount over the cap keeps piling up from one year to the next.

[Chaka]

Originally Posted by ged_782

Just to be clear, the assessed value of my home (with the Homestead Exemption), has been raised by more than 10% for the last three years in a row. However, due to the Homestead Exemption I am claiming, the increase in taxable value had to be limited to a 10% from one year to the next.


So if my assessed value were to be unchanged next year, I will still have an increase in taxable value as well as taxes, because they will then be catching me up on the previous years assessments that were over the 10% cap.


To give you an example of how this works, I protested the proposed 19% (IIRC) increase in assessed value on my homestead in 2015, which of course was limited to a 10% increase in taxable value. The best I could get was a reduction in the proposed assessment to a 12% increase. Still exceeded the 10% annual increase, so that netted me a $0.00 savings off the proposed tax increase that year for my efforts. In 2016, the assessment was increased over BCAD's initial proposed 2015 assessment, so another 10% cap was hit that year, and then another 10% cap this year. And the amount over the cap keeps piling up from one year to the next.

Yup. Initially, we didn't worry too much about the 10% increase as it seemed fair. Until we realized our assessed value had doubled and we'd have a 10% increase forever. Our assessed value has doubled again, but due to renovations they took out the homestead cap and now our taxes doubled as well.

[TexasRedneck]

Y'all remember all those times you voted for bonds, said what a good idea some neat program was, etc.? Well, guess what - YOU pay for it.....and it's only going to get worse until EVERYONE gets off their duff and demands accountability for the ENTIRE city budget, school budgets - ALL of it. Stop approving ANY bonds until they get the message......

[Azure110]

The tax increases on homeowners seems to be a result of several things:

1) All the big box retailers and corporations protesting with lawyers, thus shaving off millions (or billions?). BCAD has to make up the loss somewhere.

2) Schools are getting greedy and stand there with their hands out demanding more money.

3) Gotta pay those hefty benefit plans for the firefighters and police. Benefits that most of us never see.

[Proffer]

In line with Azure110's point... Just a guess here, but it looks like the (in some areas, new) strategy of increasing the land value as an indisputable way to raise taxes may be taken as a sign of how desperate the taxing authority has become for revenue. This does not bode well for the future of home ownership in the municipality. These dynamics also reflect desperate measures being taken at the state level as well.

[oldoak2000]

Originally Posted by juststart

We discussed it but there was no appraised value for the house at the closing day. So the previous owner only paid tax for the land. Closing company told me once 2017 appraisal comes out it is fixed.
My question is how.
And if the previous owner won't pay, it will be on me?

Don't worry - you don't have to pay it, they'll just put a tax-lien on the property and auction it off . . .

Seriously though, when was house built? was it completed AFTER Jan 1 2017 ?

[juststart]

Originally Posted by oldoak2000

Don't worry - you don't have to pay it, they'll just put a tax-lien on the property and auction it off . . .

Seriously though, when was house built? was it completed AFTER Jan 1 2017 ?

Based on the record, the house was build 2016 but no it was not complete until the closing date, 2017.
All water, electricity, and gas meters were only installed late February to early March. That means the house was not livable before. On closing date, a guy was still working to fix master bedroom windows.

So I protest? Or ask the previous owner protest or pay it?