Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Wow, that's an insane assessed value increase and a dirty trick our county plays often down here. If we don't fight it every year we'd be priced outta here. Hopefully it doesn't do that to you again next year!
I owned a house in Houston from 1990 to 2011 - we had a cap on how much our assessment could increase annually - I'm thinking it was 10%?
Property taxes in TX were much higher than in Idaho. I paid like $8K on a $400K assessment.
Property taxes in TX were much higher than in Idaho. I paid like $8K on a $400K assessment.
We're at approx. ~3% right now. Our property taxes are a little under $7,500 per year for a 0.18 acre property + 3k sq.ft. house. Yes it was a great investment (ironically today is our 8 year move in anniv.) 8 years ago with more than double our initial investment with where we are right now. The cost of living is insane now in the DFW area, especially on the north side, it is becoming cost prohibitive to live here even with no state income tax.
my assessed value went up 20%; due to leveraging it increased my property taxes $3K
What exactly do you mean by 'leveraging' in this matter, BH? Did you have a high property value to start with due to leveraging.... i.e., a big mortgage to have a big property? Or is this some other sort of projection of the tax effects?
Keep in mind that for states like TX that have no income tax, the property taxes and/or sales taxes are going to be much higher to compensate for the lack of income tax revenue. So these comparisons of property tax rates have no real meaning unless all that is taken into account.
Then you have to look at your overall life and possessions to see how each sate works out for you. If you make a lot of income and live in a hovel, Texas is the place for you! If you have a high value house, and modest income, then Idaho is advantageous.
What exactly do you mean by 'leveraging' in this matter, BH? Did you have a high property value to start with due to leveraging.... i.e., a big mortgage to have a big property? Or is this some other sort of projection of the tax effects?
assessed value minus the homeowners exemption - that's our tax basis
Idaho has Homeowner's Exemption, *and* for those qualifying (age, income, etc.) there is an additional reduction that used to be called "Circuit Breaker" but is now "Property Tax Reduction".
Idaho has Homeowner's Exemption, *and* for those qualifying (age, income, etc.) there is an additional reduction that used to be called "Circuit Breaker" but is now "Property Tax Reduction".
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
