Wilco 2019 Appraised Values Now Available

[TexasHorseLady]

Originally Posted by Trainwreck20

Just out of curiosity, could it sell for anywhere near the current appraised value? Or did you/have you protested and gotten it down?

I am an old hand at protesting property taxes, do it most years. Have even done it for our ag. But those years, I couldn't find the comps to protest it - they had it right based on the sold comps in that area (not Williamson, Travis County) and I had nothing to work with.

[TexasHorseLady]

Originally Posted by WhatTheFox

Wow! So that's $200,000 more than what it was in 2017?

Not this year, that was in 2016 and again in 2018 (just went back and checked and they skipped a year). It is currently appraised at (by the tax office) $243,000 more than in 2015.

[Trainwreck20]

Originally Posted by TexasHorseLady

I am an old hand at protesting property taxes, do it most years. Have even done it for our ag. But those years, I couldn't find the comps to protest it - they had it right based on the sold comps in that area (not Williamson, Travis County) and I had nothing to work with.

That is the kind of appreciation that would get me a'sellin!

[WhatTheFox]

Originally Posted by TexasHorseLady

Not this year, that was in 2016 and again in 2018 (just went back and checked and they skipped a year). It is currently appraised at (by the tax office) $243,000 more than in 2015.

Still ... almost $250K in 3 years. Fantastic for you (if you plan to sell)!

[TexasHorseLady]

Originally Posted by Trainwreck20

That is the kind of appreciation that would get me a'sellin!

We have absolutely no desire to sell, and would never be able to buy in that area again if we did. (We purchased the house in 1988.) It is currently rented to a couple that I helped raise who have both known the house since adolescence; they are raising their young family there.

[atxcio]

Originally Posted by TexasHorseLady

We have absolutely no desire to sell, and would never be able to buy in that area again if we did. (We purchased the house in 1988.) It is currently rented to a couple that I helped raise who have both known the house since adolescence; they are raising their young family there.

I think I can relate a little. We have a rental property in NW Hills that I bought in 1996 and it's seen similar (about 210K since 2015 according to TCAD) appreciation. A couple of years ago they changed the valuations so that the land value jumped to 75-80% of the total appraised value. Makes it difficult to get much off when protesting based on condition of the home... and the problem has been that the few comps I can find when protesting are total remodels that have sold for a very high amount. Somehow, the price the flipper paid never makes it into the comps, but the sale of the remodeled house does.

Not that I'm complaining, I realize we are really fortunate. But like you, there is no way we could ever buy in that neighborhood again at the current prices. And to sell would mean paying 15-20% cap gains on the entire sales price, since it's almost completely depreciated from the original purchase price. Not to mention the RE commissions on the sale. The amount we'd have to pay back on a sale would be huge.

So, we'll likely keep it and move back in for a couple of years later upon retirement so that we can eventually sell without having to pay so much in capital gains. In the meantime, the rent barely covers the property tax.

[ScoPro]

Don’t care if they raised mine by $18,000, we ain’t moving.

[riaelise]

Originally Posted by ScoPro

Don’t care if they raised mine by $18,000, we ain’t moving.

Ha we ain't moving either...at least til retirement...

but it still would be nice if the number went DOWN not up every year regardless of the market! Though I will say the market has now started picking up again..

[mickey65]

I'm in Round Rock (Wilco) and mine went up $10k. I guess they think my house is a mansion...