Softening in RE market?? (Dallas, Frisco: crime, restaurants, cost)

[UnfairPark]

There is a tweet going around about Frisco ISD tax increasing 71% in 10 years. If taxes started rising like this, new buildings built/old buildings deteriorating and school bond interest as well as mortgage rates went up, it’s going to be difficult for many to hold on to their homes. God forbid we faced another recession, foreclosure storm is going to be a disaster.

[Treasurevalley92]

Originally Posted by kyam11

If you have a specific situation and STL is giving you an opportunity to move there then yes it is likely you can lower your property taxes. As you can see people are not moving in droves to STL and they are moving in droves to DFW. Wanna bet where the majority are coming from? Those top 10 cities listed above most likely.

Actually, while we do have alot of people moving here from California, the majority still come from lower income states or lower income parts of the state of Texas. The carpet bagger narrative is just wrong on the macro scale.

I agree that a certain amount of Amenities require a certain scale, be that top 10 or top 15. There are also the super elite, top 3 or 5 cities that offer things that top 10 or 15 cities do not. NYC is in a class of its own and offers some things that are completely unique to New York. If you dont need the unique NY Amenities than ya, other top 10 cities can seem like a deal, but there is a reason they are priced lower (San Fran aside)

My point that Dallas isn't cheap is a fact. It has above average COL. The Majority of transplants are coming from places with lower COL. What makes the higher COL worth it is that wages are relatively high to the COL so even if you pay more you also are paid more.

Property tax rates are very high here. It can be offset by not having a income tax (provide you make good money and don't over consume on housing)

Yes, the dollar amount in property Taxes might be lower than the dollar amount on a similar structure in California because the property in california costs alot more to begin with, but what you are also paying for is the location. The home in California is worth more. Location means alot, so a 2400sqf house in Dallas =/= the same size in CA. Its up to individuals to decide if its worth it TO THEM.

Thats why a house in St Louis is so much cheaper, its in St Louis and because of a bunch of factors property is worth less there, just as it is worth less here just as its cheaper here in Dallas than other top 10 cities.

[kyam11]

You are just wrong. Sorry

Telling us why things are more expensive or cheaper is irrelevant. I’m just point out DFW has cheap property taxes relatively speaking. If you dont understand the term relatively speaking then there is nothing I can do

[Treasurevalley92]

Originally Posted by kyam11

You are just wrong. Sorry

Telling us why things are more expensive or cheaper is irrelevant. I’m just point out DFW has cheap property taxes relatively speaking. If you dont understand the term relatively speaking then there is nothing I can do

Dallas has cheap property taxes IF:

1) You go by dollar amount relative to square footage

2) Only include top 10 largest cities.

That seems to be the only way you can process this, so yeah i agree, by the rules you set up, it is cheap.

I just disagree with your premise.

If you think of the House as an asset they are very high. They are only "Cheap" because the housing itself is more affordable/ worth less.

[serger]

Originally Posted by UnfairPark

There is a tweet going around about Frisco ISD tax increasing 71% in 10 years. If taxes started rising like this, new buildings built/old buildings deteriorating and school bond interest as well as mortgage rates went up, it’s going to be difficult for many to hold on to their homes. God forbid we faced another recession, foreclosure storm is going to be a disaster.

Are you talking about the total tax revenue increase or the tax on an average home, or what? Property values have risen all over the metro, and additionally, Frisco ISD has doubled in size over the last 10 years.




These were/are the tax rates in comparison to PISD:



FISD PISD

2008 1.37 1.3034

2018 1.44 1.439


The school taxes on our current house (PISD), have increased by about 40% since we bought it during the last downturn. The taxes on our previous house (also PISD) have increased by more than 80% (since it was a lower priced house to begin with)

[crazyforger]

Do we have a breakdown on how the money gets spent on schools?

Like Grounds, scholarships, salaries etc?

[Wrecked]

Originally Posted by crazyforger

Do we have a breakdown on how the money gets spent on schools?

Like Grounds, scholarships, salaries etc?

Yes. Annual budgets are public records and they are extra detailed.

[Rollingon]

https://www.wsj.com/articles/the-u-s...48073?mod=e2fb

[EDS_]

Originally Posted by Rollingon

https://www.wsj.com/articles/the-u-s...48073?mod=e2fb

Holy smokes the same lame article for the 4th! time in a single thread.

[kyam11]

Originally Posted by Treasurevalley92

Dallas has cheap property taxes IF:

1) You go by dollar amount relative to square footage

2) Only include top 10 largest cities.

That seems to be the only way you can process this, so yeah i agree, by the rules you set up, it is cheap.

I just disagree with your premise.

If you think of the House as an asset they are very high. They are only "Cheap" because the housing itself is more affordable/ worth less.

No I actually think of it as people actually do it. For all the states that are adding population they are doing so at the major city level. For all the people leaving states they are doing so from major cities. More people left LA last year than left STL. It is highly likely those that left LA and went out of state they moved to a major city in another state.

But yeah you keep thinking people are leaving DFW and going to Bakersfield.

As I said it is very obvious you don’t understand what relatively speaking means.