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Old 03-05-2012, 04:33 PM
 
Location: Austin, TX
16,787 posts, read 48,857,761 times
Reputation: 9477

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Quote:
Originally Posted by High_Plains_Retired View Post
The same here. I haven't been able to itemize in at least three years. What is so disappointing in Texas is that one is at the mercy of these county appraisers who seem to operate in their own little worlds. Our Bailey County, Texas property appraisals kept going up even when real estate values around the rest of the country were declining. I know County values are not increasing because, during the same period, it took me five years with a national realtor to sell a prime piece of commercial property in that same county for less than it was purchased for over 20 years ago.

My wife and I still have homes in New Mexico and in Texas so we're wrestling with whether or not to give up on our native state for retirement and just stay in New Mexico. I believe we could sell our two Texas south plains properties rather quickly what with everyone coming to Texas. It's a tough decision.
New Mexico does have a Personal Income Tax, Personal Income Tax I'm not sure what kind of property taxes it has. I'd be interested to know.
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Old 03-05-2012, 04:34 PM
 
Location: Central Texas
13,715 posts, read 31,022,960 times
Reputation: 9270
Quote:
Originally Posted by High_Plains_Retired View Post
The same here. I haven't been able to itemize in at least three years. What is so disappointing in Texas is that one is at the mercy of these county appraisers who seem to operate in their own little worlds. Our Bailey County, Texas property appraisals kept going up even when real estate values around the rest of the country were declining. I know County values are not increasing because, during the same period, it took me five years with a national realtor to sell a prime piece of commercial property in that same county for less than it was purchased for over 20 years ago.

My wife and I still have homes in New Mexico and in Texas so we're wrestling with whether or not to give up on our native state for retirement and just stay in New Mexico. I believe we could sell our two Texas south plains properties rather quickly what with everyone coming to Texas. It's a tough decision.
I hope you at least attempted to protest your appraisals. They need to prove their assessed values are legitimate.
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Old 03-05-2012, 08:41 PM
 
15,440 posts, read 21,241,421 times
Reputation: 28675
Quote:
Originally Posted by CptnRn View Post
New Mexico does have a Personal Income Tax, Personal Income Tax I'm not sure what kind of property taxes it has. I'd be interested to know.
I just sent you a PM but did not address NM property taxes. Conservatively speaking, my Albuquerque home has a market value of about $210,000 to $240,000. It is my understanding that Bernalillio County, NM has some of the stiffest property taxes in the State although I can not verify that. My NM annual property tax is $2,000 a year. If the house had the same value in Muleshoe, Bailey County, Texas, the annual taxes would be $7,300 to $8,300.
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Old 03-05-2012, 08:46 PM
 
15,440 posts, read 21,241,421 times
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Quote:
Originally Posted by hoffdano View Post
I hope you at least attempted to protest your appraisals. They need to prove their assessed values are legitimate.

It was much easier to just sell out and move.
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Old 03-05-2012, 11:26 PM
 
679 posts, read 2,825,916 times
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Quote:
Originally Posted by hoffdano View Post
Oh please. Another rant from a taxpayer who doesn't have children.
You got that right! I am more for the teacher. Teachers need better salaries. There is no reason why over 70% of my taxes should go to the schools, when teacher's salaries are so low and emergency services get about $40. Why do the schools need so much money?
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Old 03-06-2012, 09:06 AM
 
Location: Where I live.
9,191 posts, read 21,792,762 times
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Quote:
Originally Posted by High_Plains_Retired View Post
.....

My wife and I still have homes in New Mexico and in Texas so we're wrestling with whether or not to give up on our native state for retirement and just stay in New Mexico. I believe we could sell our two Texas south plains properties rather quickly what with everyone coming to Texas. It's a tough decision.
I hear that, and I'm going through the same thing.

As much as I love my home state--and miss it--it's hard to think of going back to high property taxes, high utilities and high homeowner's insurance--along with the really hot weather.

I was considering going back to my home county, redoing my old childhood home and staying there, but ultimately decided against that. The house will be sold soon, and it's hard to let it go on some levels.

I'm still struggling with the Alpine issue--as much as I love that country, I'm not sure I could handle the isolation and hot summers again.

It would also be hard to leave the climate I have come to really enjoy. I love the cold winters and not-so-brutal summers.
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Old 03-06-2012, 09:49 AM
 
Location: Central Texas
13,715 posts, read 31,022,960 times
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Quote:
Originally Posted by texasdreamin View Post
You got that right! I am more for the teacher. Teachers need better salaries. There is no reason why over 70% of my taxes should go to the schools, when teacher's salaries are so low and emergency services get about $40. Why do the schools need so much money?
That schools get 70% of your taxes by itself means nothing. The absolute amount is what matters.

Compared to national data, Texas is on the low end of spending per student. Academic performance, if consideration is given for the very high percentage of certain demographic groups in Texas, is quite good and almost equal to Massachusetts, which spends about 50% more per student.
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Old 03-08-2012, 01:48 AM
 
679 posts, read 2,825,916 times
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So then where does all that money go????? If every resident is contributing 70% or more of their money to the schools...where is it going?
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Old 03-08-2012, 10:00 AM
 
Location: Central Texas
13,715 posts, read 31,022,960 times
Reputation: 9270
Quote:
Originally Posted by texasdreamin View Post
So then where does all that money go????? If every resident is contributing 70% or more of their money to the schools...where is it going?
Just about every school district in Texas publishes their budget on their website.

Most of the operating expenses (called "M&O") go to staff. Most of it is teachers.

Depending on the age and growth rate of the district, the debt repayment portion (called "I&S") of the property taxes repay bonds issued to finance construction and capital expenses. The maximum rate for I&S is .5% but is typically .25-.35%.

I encourage you to look at actual numbers before you simply conclude that "more money should go to teachers." Since schools in Texas can cost about $9K per student per year to operate, your own property taxes probably pay for far less than a single student per year.
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Old 03-08-2012, 05:13 PM
 
Location: Austin, TX
16,787 posts, read 48,857,761 times
Reputation: 9477
Quote:
Originally Posted by High_Plains_Retired View Post
I just sent you a PM but did not address NM property taxes. Conservatively speaking, my Albuquerque home has a market value of about $210,000 to $240,000. It is my understanding that Bernalillio County, NM has some of the stiffest property taxes in the State although I can not verify that. My NM annual property tax is $2,000 a year. If the house had the same value in Muleshoe, Bailey County, Texas, the annual taxes would be $7,300 to $8,300.
I can't say about Muleshoe, Bailey County, Texas, but here in Austin TX, for our 2,400 SF house appraised around $245,000 in the AISD school district with homestead and disability exemptions we paid $3,632 total property taxes this year. Our rental house, 1,300 SF a few miles away appraised at $173,000 with no exemptions we paid $4,087 Total property taxes. I don't know why Muleshoe would be so high unless they are having to make up for all the agricultural exemptions around it which pay few school taxes. This is probably the case looking at Muleshoe in Google Maps, I'll bet all of that agricultural land that hems it in pays little in school, city or county taxes.

http://maps.google.com/maps?q=Muleshoe,+TX&hl=en&ll=34.231106,-102.722855&spn=0.397391,0.688705&sll=37.0625,-95.677068&sspn=37.956457,77.34375&oq=muleshoe&hnea r=Muleshoe,+Bailey,+Texas&t=h&z=11

Last edited by CptnRn; 03-08-2012 at 05:27 PM..
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