Austin Homes Most Overvalued in the US (loan, buying)

[tom331]

Originally Posted by austin-steve

Please. California is done, cooked, stick a fork in it. It's bleeding people and companies.

You have to look at total cost of living, including ALL taxes, fees and costs. I grew up in San Diego. I know about great weather. It doesn't make up for the government having all of its fingers in your wallet and the horrible, atrocious regulatory business climate and overly powerful union/government worker sector, cost of gas and everything else. And the cherry on top is that they are out of water and it's pretty much an ungovernable state due to the citizen initiatives.

If I was a Californian looking at Austin, it would look pretty sweet. And that's where the majority of our out of state transplants come from, as well as the majority of relocating/expending businesses. When Rick Perry goes there for recruiting trips, and companies actually listen and look at the facts and numbers, it's like shooting fish in a barrel. The realities just can't be ignored.

A higher wage doesn't matter either. It's what's left over that matters, and the standard of living that the wage can provide in the community in which you want to live.

Steve

We are thinking about moving to San Diego when we retire, but we might keep a small place at Austin. It seems that the downtown properties price at San Diego is comparable to the property price at Downtown Austin. We have been San Diego several times and the last time was two month ago. The Marina area seems nice and the weather was great. After 30 years at Austin, we are ready for the cooler summer weather.

[gpurcell]

Originally Posted by Novacek

The top three in that list, all of them dropped their rate from 2013 to 2014, because of increased assessed values. As did many others throughout the list, I don't have the time to go through each one and figure out which ones voted in new debt.

Five year periods. Many years where valuations went up and tax rates remained the same.

You are flat out wrong.

[austin-steve]

Originally Posted by tom331

We are thinking about moving to San Diego when we retire, but we might keep a small place at Austin. It seems that the downtown properties price at San Diego is comparable to the property price at Downtown Austin. We have been San Diego several times and the last time was two month ago. The Marina area seems nice and the weather was great. After 30 years at Austin, we are ready for the cooler summer weather.

I don't disagree that it's nice. I was there for 5 days a year ago. Very lovely.

But the math doesn't compute as a retirement destination as far as cost of living, once you factor EVERYTHING in, including state income tax.

Plus, and I hope Austin can avoid this as long as possible, SD has "big city" problems with crime and drugs. It did even in the early 1980s when I left. Just watch the difference in nightly news subject matter.

All that said, I was in CA to visit twice last year and will be there at least once again before year end. I do love to visit and sight see. It's a beautiful scenic state. Just way too expensive for my frugal side.

Steve

[Novacek]

Originally Posted by gpurcell

Many years where valuations went up and tax rates remained the same.

Because valuations didn't go up very much, and stayed under triggering the rollback.

Originally Posted by gpurcell

You are flat out wrong.

Do you even know what the rollback mechanism is? Do some research.

[gpurcell]

City of Austin Rates:
2014
0.48090000

2013
0.50270000

2012
0.50290000

2011
0.48110000

2010
0.45710000

My appraised Values:
2014 329148
2013 274720
2012 244014
2011 239851

So, my appraised valuation from 2011 to 2013 went up 14.5 percent while the COA went up by 4.5 percent! And in 2014, while the tax rate is basically the same since 2011, the assessed value of my house is up 37.2 percent!

This idea that tax rates drop because assessments go up is a complete and total lie.

[Novacek]

Originally Posted by gpurcell

City of Austin Rates:
2014
0.48090000

2013
0.50270000

2012
0.50290000

2011
0.48110000

2010
0.45710000

My appraised Values:
2014 329148
2013 274720
2012 244014
2011 239851

So, my appraised valuation from 2011 to 2013 went up 14.5 percent while the COA went up by 4.5 percent! And in 2014, while the tax rate is basically the same since 2011, the assessed value of my house is up 37.2 percent!

This idea that tax rates drop because assessments go up is a complete and total lie.

Were we discussing _your_ assessment (singular)? No, were were discussing property values (plural, generally).

2011 to 2013, city of Austin assessed values (on average) increased 3.6% (over two years). Not even enough to account for inflation. No wonder the rate had to slightly increase. And the actual increase in the rate (2012) actually coincided with an actual _decrease_ in average value.
http://www.traviscad.org/pdf/2013Ann...t_20131109.pdf page 17

[gpurcell]

Laugh. Whatever, guy. You've been caught (again) in a lie. 2011-2014 was a huge increase in assessed value yet COA tax rate increased.

[Novacek]

Originally Posted by gpurcell

Laugh. Whatever, guy. You've been caught (again) in a lie.

assessed values go down (2012) tax rates go up.

assessed values go up (2014) tax rates go down.

Since that's the law (again, see recall elections), that's the result you see.

[gpurcell]

2010: COA tax rate 0.45710000
2014 COA tax rate 0.48090000

But, yeah, I'm SURE assessed valuations in Austin have shrunk a lot between those two data points!

[tom331]

Originally Posted by Novacek

assessed values go down (2012) tax rates go up.

assessed values go up (2014) tax rates go down.

Since that's the law (again, see recall elections), that's the result you see.

Your income and job must be counting on the tax dollars. You are promoting tax and government spending everywhere!