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Old 04-22-2007, 08:56 PM
 
531 posts, read 2,073,983 times
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my property tax went thru the roof this year!!! Governor Perry claimed to lower it yet my house value went up according to bexar county 30% in 1 yr thats insane!

what has been your experiences?
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Old 04-22-2007, 09:23 PM
 
Location: Western Bexar County
3,823 posts, read 14,667,075 times
Reputation: 1943
Quote:
Originally Posted by montevista1 View Post
my property tax went thru the roof this year!!! Governor Perry claimed to lower it yet my house value went up according to Bexar county 30% in 1 yr thats insane!

what has been your experiences?
The law that Governor Perry pushed has nothing to do with appraisals. The law lowered the tax rate charged by schools districts in the counties. All county appraisals are independent of the state government. About the only good thing is that you will pay less taxes than if there was no tax rate cut. A better phrase would be a tax deferral.

BTW, Bexar County brought in a new Appraiser from Austin a couple of years ago to be more aggressive with property appraisals = more money!
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Old 04-22-2007, 09:27 PM
 
679 posts, read 2,833,467 times
Reputation: 208
That is so sad to me. I just don't know why there isn't uproar over this. What do they expect will happen when people just can't pay anymore? This is just so unbelievable that they are allowed to get away with it.
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Old 04-22-2007, 10:18 PM
 
Location: San Antonio, Texas
3,503 posts, read 19,882,619 times
Reputation: 2771
Aggresive is mild. Some of my properties have been raised 50 and 51 and 39 percent. I checked and recked the figures. You can be assured there will be appeals filed on Monday morning. If the appeals are not answered with appropriate revaluations, there will be alot of property on the market June 1.
I also noticed that each appraisal has the amount of savings for each property listed with the previous years tax and the new tax.
Is that supposed to make me feel good? The properties are worth so much more, but I will pay less tax...for now.
Am I allowed to use bad words on this forum? *#%#**&*$%$#@
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Old 04-23-2007, 11:16 AM
 
531 posts, read 2,073,983 times
Reputation: 251
Default Law

Why is not there a law in texas stating that home value can not go up more than 10%. This is insane, it totally ruined my investment property and I think I may try to sell it sooner then I thought because the investment does not make sense anymore.

I knew taxes here were crazy, but this is wrong and unethical!

If the tax system would be reformed there would be alot more investment in Texas!
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Old 04-23-2007, 11:20 AM
 
531 posts, read 2,073,983 times
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If next year I get an increase in value like I did this year then I am selling and putting my money elsewhere. The reason why I invested in San Antonio is that appreciation is rougly around inflation and now I know why because the taxes are so high.
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Old 04-23-2007, 11:59 AM
 
Location: Western Bexar County
3,823 posts, read 14,667,075 times
Reputation: 1943
Quote:
Originally Posted by montevista1 View Post
Why is not there a law in Texas stating that home value can not go up more than 10%. This is insane, it totally ruined my investment property and I think I may try to sell it sooner then I thought because the investment does not make sense anymore.

I knew taxes here were crazy, but this is wrong and unethical!

If the tax system would be reformed there would be a lot more investment in Texas!
montevista1,

I don't know about a law, but Bexar County does limit property appraisal increases to 10% IF you have a homestead exemption. The key is you have to LIVE in the house to get it, so rental properties are not included in the exemption. I wouldn't wait until next year to sell as you know property values are going to continue at/or near this pace for 2007.
Here is the link where I delve deeper into the Homestead Exemption:

http://www.city-data.com/forum/san-a...ls-2007-a.html
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Old 04-23-2007, 12:09 PM
 
Location: Austin, TX
15,268 posts, read 35,624,789 times
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I suspect that a majority of Texans ('they') are not invested in property other than their homestead; as such, the 10% increase cap limits the pain somewhat. Since they do not have rental property, they are not as concerned with large increases in property appraisals. If the tax rates go up to high and investors all start to sell, then the appraisals go back down due to lowering of market value of property and they never see those 50% increases because the higher values do not last five years.

Just a guess, I have really not thought about it before, but it would seem that a lot of investors would get 'gouged' (many of them out of state) and unwillingly contribute to the tax coffers, while the local homeowners would largely be only moderately affected.
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Old 04-23-2007, 12:14 PM
 
531 posts, read 2,073,983 times
Reputation: 251
Units are rented until 08 of may so do not think i can file homestead. Selling now is not good because I have only had the property for about a year and I want to wait at least 2 yrs to get descent appreciation. I think in 5yrs San Antonio will be an amazing place, but I do not think I can wait this long due to these insane taxes.
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Old 04-23-2007, 03:41 PM
 
Location: San Antonio, Texas
3,503 posts, read 19,882,619 times
Reputation: 2771
The BCAD how has access to sale prices of homes and real property. anytime there is a sale, the property is apprased at the sale value. It used to be that they did not have that information and increased values by percentage. Now they go by sales prices of comps. in the area, if not the actual sales prices as registered in the court house.
Can't win.
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