HCAD appraisal values out for most people (Houston: house, purchase)

[vwgto]

When the valuation shoots up way past the 10% annual increase limit, it is going to be much harder to argue that 10% ...

[jz17]

I thought there is a 10% capped value on appraisal value, after you paid two years property tax.
Correct?

[hulio82]

Originally Posted by trekbiker

Yeah I checked, they haven't posted for 2014 yet.

I called and they said we should be getting it by end of March/beginning of April and have the month of May to dispute it.

[TXbywayof]

Looks like it went up 10% across the board. Good luck with your protests, you are going to need it. I just looked at a house in Creekside in The Woodlands that we wanted to buy last fall but it got away. In 2012 it was appraised for $500, 2013 $550, and now $605k. Wow! This house was reduced to $570 and probably sold for less. Does anyone think you will start seeing some of these high priced homes unloaded due to property taxes?

[PedroMartinez]

Originally Posted by jz17

I thought there is a 10% capped value on appraisal value, after you paid two years property tax.
Correct?

10% per year if it is your homesteaded private residence.

If it's a business or a rental property, well, you can see huge increases.

[diggity101]

Does anyone think you will start seeing some of these high priced homes unloaded due to property taxes?

Doubtful. It's painful to pay that tax bill but they can only raise you by 10%/year so it's not going to be enough for most people to go through the trouble of selling. The closing costs on each end would more than eat up any savings gained by moving to a (presumably) cheaper neighborhood.

The people most affected by these tax hikes are the poor living inside the loop. Most can't afford their tax bill doubling every few years.

[Bike4Life]

Originally Posted by diggity101

Doubtful. It's painful to pay that tax bill but they can only raise you by 10%/year so it's not going to be enough for most people to go through the trouble of selling.

The people most affected by these tax hikes are the poor living inside the loop. Most can't afford their tax bill doubling every few years.

Good! We want poor people to unload their rental properties or shack and move to the suburbs.

[eastontracks]

how long will homes continue to rise in the houston area? maybe its wiser to post as a separate topic but with these appraisals mentioned, ive seen condos i was looking at last year now 30k more. pretty insane, and happy i bought something then.

[dd1153]

22% market value, 10% appraisal value

[Bike4Life]

Likewise, up 22% market value, capped at 10% appraisal value increase. It's 74% on land value in Willowbend area.