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Old 04-03-2017, 08:28 PM
 
Location: Central East Austin
615 posts, read 782,549 times
Reputation: 551

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My land value doubled in a single year.

Travis CAD
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Old 04-03-2017, 09:02 PM
 
Location: central Austin
7,228 posts, read 16,130,656 times
Reputation: 3915
Everything up for me! Land is double what it was 5 years ago, house somehow gained $147K in one year. Looks like I'll be protesting again. Sigh.
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Old 04-03-2017, 10:52 PM
 
29 posts, read 82,773 times
Reputation: 52
Weird, mine is exactly the same as last year to the dollar. Hoping it isn't an error. We needed a break after my husband protested last year and got a lady who wouldn't budge more than a few hundred dollars, even after showing her (tens of) thousands of dollars in repairs our home needed.
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Old 04-04-2017, 05:57 AM
 
Location: Austin TX
11,027 posts, read 6,526,281 times
Reputation: 13259
They caught up with my little rural SW neighborhood. Ugh.
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Old 04-04-2017, 06:45 AM
 
8,007 posts, read 10,461,001 times
Reputation: 15039
I got mine in the mail yesterday. It went up (again), but not by the 10% max it has in the past few years.
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Old 04-04-2017, 07:16 AM
 
2,627 posts, read 6,582,381 times
Reputation: 1230
Mine only went up about 5% this year instead of the full 10% the past 3 years. I guess I should be happy about that.
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Old 04-04-2017, 07:58 AM
 
Location: SW Austin & Wimberley
6,333 posts, read 18,080,673 times
Reputation: 5533
All of my properties increased in value. A duplex I own near East Riverside/IH35 went from $318K to $452K, a 42% increase. My tax bill will go from about $7K to $9,944, an increase of $2,944 or $245/mo.

I just renewed one tenant with a $25 increase. This ain't gonna work no more.

She's been there a long time and I don't mind keeping rents below market. Not because of any do-gooder wishy washy thinking about "Affordability", but because I bought the place in the 1990s, so the numbers still worked at a lower amount for my needs. Not anymore.

My other tenants on the other side are on month-to-month at a similar below-market rate or $1,100/mo for an 1,100 SQFT 2 bedroom with a city view. Rent should probably be $1,500/mo, but even at that market rate, the property value has outrun the rent rates to the degree that it makes more sense to cash out on a 1031 exchange and go invest somewhere else with more balance rent/value ratios.

These politicians talk about "Afffordability", and act like landlords like me are the bad guy. They're talking out of both sides of their mouths though. Actually, they're blowing smoke out of their as*ses.

Until/unless the politicians have the courage to fund our schools differently, either with a state income tax or something else, people like me, who in our own way provide "affordability" to Austin with our older rental properties, will cash out and take our investment elsewhere. I'll use some of the proceeds to help my daughters "afford" Austin instead of subsidizing renters through below-market rents.

Sorry for the rant, but the next time I'm at a public event where a politician starts talking about "Affordability" in Austin, I think I'll just yell "F U" real loud.

Steve
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Old 04-04-2017, 08:16 AM
 
2,602 posts, read 2,987,348 times
Reputation: 997
Quote:
Originally Posted by austin-steve View Post
My tax bill will go from about $7K to $9,944, an increase of $2,944 or $245/mo.
Are you assuming the taxing entities won't drop their rates (which they almost inevitably are forced to do)?
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Old 04-04-2017, 08:41 AM
 
Location: central Austin
7,228 posts, read 16,130,656 times
Reputation: 3915
Quote:
Originally Posted by austin-steve View Post
Until/unless the politicians have the courage to fund our schools differently, either with a state income tax or something else, people like me, who in our own way provide "affordability" to Austin with our older rental properties, will cash out and take our investment elsewhere. I'll use some of the proceeds to help my daughters "afford" Austin instead of subsidizing renters through below-market rents.

Steve
Not only will Texas never come up with a different way to fund schools, they are increasing the burden on local taxpayers!
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Old 04-04-2017, 08:49 AM
 
Location: Avery Ranch, Austin, TX
8,977 posts, read 17,586,393 times
Reputation: 4001
BIG reason we got out of the large Texas house! Had a value of $500K give or take, swapped for the townhouse we paid $212k for and it has gone up each year along with the comps in the area. We are likely over $250k now...would be happy to sell for that and devise another plan

I imagine the 'big' house is over $600k by now! Dang. Williamson County where Homestead Ex is just a drop in the bucket!
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