Fort Bend residents protest higher taxes (Howe, Canadian: sales, credit, new house)

[TravelFeedsTheSoul]

Did most of you in Fort Bend hear about the protesters at the appraisal district office?

Angry residents protest higher property taxes in Fort Bend County | abc13.com

I personally agree with these protesters, that raising property values to the max each year will eventually price us out of the homes. Many of us buy a home with a budget in mind for our overall housing expenses and we allow for some increases over time. However, at the excessive rate that Fort Bend County (and other Texas counties) has been raising property values, people will eventually be forced to sell their home (possibly at prices lower than appraised value) in order to keep enough discretionary income to maintain a certain lifestyle. Then, you will have decreasing property values once many people start selling to get out of the money pit

I think we need more of these protests to stop the madness. Anyone want to volunteer to organize something like this at the appraisal district?

[ottc777]

got a pool and the appraised value came back MORE than the total price of the pool! which was over 20% increase over last year...

[TravelFeedsTheSoul]

how do they know you have a pool? is it b/c you have to apply for permits or something? I know nothing about pools.

[HookTheBrotherUp]

Originally Posted by TravelFeedsTheSoul

how do they know you have a pool? is it b/c you have to apply for permits or something? I know nothing about pools.

Yes, this, and Google satellite maps.

[ottc777]

Originally Posted by TravelFeedsTheSoul

how do they know you have a pool? is it b/c you have to apply for permits or something? I know nothing about pools.

yep, permits.

and no, it's not on google maps yet

[baggiegenes]

I don't get this. If you could put your house on the market and sell it for as much or more than the appraised value then the system is working properly. If you are assessed more than market value you can protest based on market value or unequal appraisal.

What people paid for their house or improvements has no bearing. If you add something for 10k and the house is now worth 50k more then that was just a good investment. I understand the concern about rising taxes pricing people out of their homes, but that is part of the trade off for not having a state income tax. If it is valued properly and you still can't pay the taxes then sell the house and pocket all the profit.

If the complaint was about systemic over valuation and unfair protest hearings that would be valid. But, my unscientific review of houses around me in cinco and seven meadows has all houses valued less than what they could sell for. That is even after being increased so much this year the 10% cap kicked in on my home.

[KerrTown]

Originally Posted by TravelFeedsTheSoul

I personally agree with these protesters, that raising property values to the max each year will eventually price us out of the homes.

Time for an income tax then? A Canadian-level sales tax? Consumer-friendly VAT?

Texans don't like transparency when it comes to personal finances and often have problems with the arithmetic and instructions (where to put deductions and tax credits) with the federal income taxes already.

But it would be nice to basically have an installment system for all by paying half as property taxes on New Years and the other half through the state returns on Tax Day, instead of having to pay everything at New Years.

Many of us buy a home with a budget in mind for our overall housing expenses and we allow for some increases over time. However, at the excessive rate that Fort Bend County (and other Texas counties) has been raising property values, people will eventually be forced to sell their home (possibly at prices lower than appraised value) in order to keep enough discretionary income to maintain a certain lifestyle. Then, you will have decreasing property values once many people start selling to get out of the money pit

The property tax rates discouraged California-style speculation when the recession started; but it might be our undoing if most of the taxpayers were Texans. Turns out that some people cashed out of California and the East Coast and moved to Texas around that time and have some of the extra money still left over. With yuppies, their high-income jobs still pay the same in Texas which raises the cost-of-living mostly in the inner city.

[ftbend06]

I don't really understand what the big deal is. If the surrounding data supports that they have your place as being valued at more than it's actually worth, show them the data and I'm sure they'll change it. If they have it at what it's worth or less, there's nothing to complain about.

One year they had mine higher and I provided valid information (closing papers) and they reduced it. This year (new house) they raised it significantly, but they did so to a little less than what I paid for it, so I can't really complain.

It's just the market is all. You can't argue with that. Prices have gone up and appraisals aren't going to stand still.

[TravelFeedsTheSoul]

Those of you referring to no state income tax as a justification for higher property taxes, keep in mind that paying 5% on an income of $100K is $5K per year, whereas paying 3.5% on a $400K house is $14,000 in taxes per year. Since houses are usually purchased at some multiple of income (2.5x or 3x), a higher property tax can sometimes be more burdensome than state income tax. Additionally, Texas also some of the highest combined state and local sales tax.

[Houston321]

Those of you referring to no state income tax as a justification for higher property taxes, keep in mind that paying 5% on an income of $100K is $5K per year, whereas paying 3.5% on a $400K house is $14,000 in taxes per year. Since houses are usually purchased at some multiple of income (2.5x or 3x), a higher property tax can sometimes be more burdensome than state income tax. Additionally, Texas also some of the highest combined state and local sales tax.

However, you get to choose where you live, and you choose what you purchase. It is your own personal choice to purchase a more expensive home, car...etc. The income tax penalizes you for making more money.