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Old 11-16-2018, 03:57 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,745 posts, read 58,102,528 times
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Property taxes on my (5) TX properties combined is less than my (1) primary residence WA property Tax... Valuations are ~ same.

A WA rural residence (income prop) <1 minute from my primary residence is 1/10th the property tax. (Same cost basis, but ~ 30% less valuation).

(all are rural homes on view acreage, WA and TX)


*hint... don't upset your WA tax valuation appraiser.
They definitely get upset when you drag them to Olympia year after year to contest your valuation.

Taxing authority uses Multiplication (factors), Land owners only have addition and subtraction ... - you CAN NOT win against those odds!

My house burns to the ground... my WA property taxes on the bare LAND will still be over $6k / yr.
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Old 11-16-2018, 04:05 PM
 
28,115 posts, read 63,698,390 times
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Quote:
Originally Posted by StealthRabbit View Post
Property taxes on my (5) TX properties combined is less than my (1) primary residence WA property Tax... Valuations are ~ same.

A WA rural residence (income prop) <1 minute from my primary residence is 1/10th the property tax. (Same cost basis, but ~ 30% less valuation).

(all are rural homes on view acreage, WA and TX)


*hint... don't upset your WA tax valuation appraiser.
They definitely get upset when you drag them to Olympia year after year to contest your valuation.

Taxing authority uses Multiplication (factors), Land owners only have addition and subtraction ... - you CAN NOT win against those odds!

My house burns to the ground... my WA property taxes on the bare LAND will still be over $6k / yr.
I've never lost contesting California Assessments... even having it go the full appeal process... it is kind of a once and done thing.

Problem is life is to short to spend my life endlessly in Olympia appealing the latest assessment...

What got us was a speculator bought property with the notion of making a fortune subdividing... based on this one sale we all got hit and hit hard. Assessor did have the sale to back up the county's position...

Several years later the buyer went bankrupt and never was able to do anything with the property but the damage was done...

PS... I had mentioned that I no longer have the two additional building sites and to the assessors credit the value was reduced substantially because of the new set back regs affecting the undeveloped parcel.

But... and here is the kicker... what the county gave it took back... county raised the value of my home by that amount and more citing enhanced privacy due to new restrictions on building...
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Old 11-16-2018, 05:20 PM
 
17,311 posts, read 12,267,497 times
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That only seems to be a problem with substantial land. Trying to run off all the folks with large rural acreage in order to put a new housing development in with dozens of new tax payers in its place?

On your typical suburbia postage stamp lot property taxes here are the lowest I've encountered. Even compared to property I've had in another state that was worth 1/3 as much.
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Old 11-16-2018, 05:38 PM
 
Location: WA
5,453 posts, read 7,752,127 times
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Quote:
Originally Posted by Ultrarunner View Post
Regarding WA property taxes... it was a huge shock to see my assessment increase 80% in one year... and I was paying taxes based on what I paid for the place 18 months prior.

I-747 was tossed out and it was open season on homeowners...

The then $6800 property tax was manageable... now it is pushing 14k... there was a slight reduction a few years back and now it is back with a vengeance...

I identify with other Washington Property Owners and it certainly has made me appreciate Prop 13...

As taxes increase... I have also been down zoned... so where I originally had the home and two additional building sites now I have the home and land without the possibility of building.

I love WA but not sure I can afford it in retirement... my home with the 14k property taxes is currently rented for 2k... just enough to pay taxes, insurance and stay on top of yearly maintenance...
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Old 11-16-2018, 11:31 PM
 
1,014 posts, read 1,577,269 times
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Quote:
Originally Posted by cyberous View Post
We have been trying to convince them of a smaller footprint like we did so they can escape for a few months during the winter as we do (two/three smaller homes vs one large one.)
How does this work out? Isn't it a chore maintaining two/three homes, plus paying property taxes x 3, home insurance x 3, plus cable/internet, baseline electricity/sewer/heating x 3? Wouldn't it be better to simply rent a really nice place for two or three months versus the monthly cost and maintenance of multiple domiciles?
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Old 11-17-2018, 01:37 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,745 posts, read 58,102,528 times
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Originally Posted by USDefault View Post
How does this work out? Isn't it a chore maintaining two/three homes, plus paying property taxes x 3, home insurance x 3, plus cable/internet, baseline electricity/sewer/heating x 3? Wouldn't it be better to simply rent a really nice place for two or three months versus the monthly cost and maintenance of multiple domiciles?
My multiple homes cash flow VERY nice + allow deductible travel expenses between destination locations and lots of depreciation (income offset). (Each has a separate cabin / living space for me + RV hookups for friends.)

Tenants pay all the utilities, do the maint / mowing / snow removal. When I get them 1031'd back into commercial props they will be triple net. (Tenant covers utilities, taxes, insurance, maint, ).

Property taxes / insurance / and mortgage interest on extra homes (investment Prop) is 100% deductible / offset from income (including your wage income, should you have some...). Your tenant is PAYING for your investment.

but... if you want to keep an 'EXTRA' home just-for-you... take a midweek / midwinter trip to an OR / WA coastal town and count the vacant houses... The equity tied up in doing that will pay for a lot of rental stays. If rented out by a property manager, poof, there goes any positive cash flows. If you can get regular periodic renters, (and manage yourself) you can break even.

No doubt... multiple homes is a lot of work and responsibility (and liability exposure). Not a suitable task for everyone.
For some... it just fits right.

One of my kids is adding and ADU to his Clark County home (While the permits are available), It will assist with mortgage / income / taxes and resell. He will probably end up living in the ADU and renting out the BIG house. That is what I do.
Caring for a disabled parent for 30+ yrs educated me in the need to have various options for separate living space. Several friends (grandparents) are caring for their grandkids while the adult kids are serving time. ADU's are very handy for boomerang family and for long term rehab (eldercare and friends / family who need a spot to recover for a few months or yrs)

Last edited by StealthRabbit; 11-17-2018 at 01:46 AM..
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Old 11-17-2018, 08:20 AM
 
Location: CA, OR & WA (Best Coast)
472 posts, read 527,766 times
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Quote:
Originally Posted by USDefault View Post
How does this work out? Isn't it a chore maintaining two/three homes, plus paying property taxes x 3, home insurance x 3, plus cable/internet, baseline electricity/sewer/heating x 3? Wouldn't it be better to simply rent a really nice place for two or three months versus the monthly cost and maintenance of multiple domiciles?
One is a commercial property, two are real properties but yes renting would be smarter and easier/cheaper. Most of our friends here have "winter homes" in Mexico, Palm Springs or Arizona so its not all that unusual.
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Old 11-17-2018, 11:05 AM
 
28,115 posts, read 63,698,390 times
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Quote:
Originally Posted by USDefault View Post
How does this work out? Isn't it a chore maintaining two/three homes, plus paying property taxes x 3, home insurance x 3, plus cable/internet, baseline electricity/sewer/heating x 3? Wouldn't it be better to simply rent a really nice place for two or three months versus the monthly cost and maintenance of multiple domiciles?
My brother's in-laws are in a similar situation.

About 20 years ago they planned to retire to Cambria and bought a cottage on the coast... well... a little larger than a cottage but with a great floor plan.

They planned to sell there nice Bay Area home and have their home by the sea ready and waiting...

Well... life happens in a good way... they now have 5 Grand Daughters they adore and are very active Grandparents and loving every minute of it... Grandpa was set to retire but his company hired him as a consultant with an offer too good to refuse... that lasted 5 years and very lucrative...

So the Cambria Cottage retirement plan hasn't yet happened.

What did happen is one of their neighbors is a full time, small time property manager... she suggested the idea of renting the cottage... the in-laws were apprehensive but didn't want to sell either.

They have been renting it for 12 years... minimum 30 day rental... the property generates a lot of income and they have no worries... they love their property manager and personally use the home about 10 weeks each year

Several of their renters come back each year... one is a retired couple from the East Coast with 6 weeks from mid January to the end of Feb... they have had a famous writer rent for 3 months and a couple from the UK... with a daughter at Pepperdine...

The in-laws never thought or had any intention of being Landlords but the situation has proved very lucrative... plus the home has appreciated several times more than they paid....

Kind of hard to get that total return as a renter...
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Old 11-17-2018, 01:09 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,745 posts, read 58,102,528 times
Reputation: 46232
Quote:
Originally Posted by notnamed View Post
That only seems to be a problem with substantial land. Trying to run off all the folks with large rural acreage in order to put a new housing development in with dozens of new tax payers in its place?
....
No future developments allowed in CGNSA.
1 lot = postage stamp or 200 acres. = ONE house.

My Skamania and Klickitat properties DEDUCT from valuations for being stuck in CGNSA.

Clark County has an 'Adder' to valuations in CGNSA.
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Old 11-17-2018, 02:04 PM
 
Location: WA
5,641 posts, read 24,963,956 times
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Quote:
Originally Posted by StealthRabbit View Post
Property taxes on my (5) TX properties combined is less than my (1) primary residence WA property Tax... Valuations are ~ same.
...
It depends upon the county in Texas. I almost contracted for a property in Kerrville until I was quoted the property tax... three times the rate I pay for the same valuation here in Clark county.
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