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Old 10-03-2017, 07:21 AM
 
Location: Hougary, Texberta
9,019 posts, read 14,291,129 times
Reputation: 11032

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Quote:
Originally Posted by AmericaWestCMH View Post
Where the hell did you pull that number from?

NRS 361.4723 provides a partial abatement of taxes by applying a 3% cap on the tax bill of the owner's primary residence (single-family house, townhouse, condominium or manufactured home). Only one property may be selected in the State of Nevada as a primary residence. Some rental dwellings that meet the low-income rent limits may also qualify for a 3% cap on the tax bill.
A cap of up to 8% on the tax bill will be applied to residences that are not owner occupied
The Harris County appraisers office. It's a Texas law.


Understanding the Property Tax Process - Harris County Appraisal District


Under current law, while a homestead property’s January 1 market value isn’t capped, that property’s appraised value is capped at a maximum increase of 10% each year. For example, the January 1 market value of a capped residence might be $200,000. However, if that home were appraised at $175,000 on January 1 of the prior year, this year’s appraised value would be $192,500 ($175,000 x 1.10).
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Old 10-03-2017, 09:47 AM
 
18,130 posts, read 25,286,567 times
Reputation: 16835
Quote:
Originally Posted by mikeyyc View Post
The Harris County appraisers office. It's a Texas law.


Understanding the Property Tax Process - Harris County Appraisal District


Under current law, while a homestead property’s January 1 market value isn’t capped, that property’s appraised value is capped at a maximum increase of 10% each year. For example, the January 1 market value of a capped residence might be $200,000. However, if that home were appraised at $175,000 on January 1 of the prior year, this year’s appraised value would be $192,500 ($175,000 x 1.10).
BS to get people to support that stupid tax
Property tax really punishes hard working people

A person that works hard all his life to have a nice house, is stuck paying taxes after retirement because he decided to invest his money in his house.
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Old 10-03-2017, 03:15 PM
 
2,548 posts, read 4,053,700 times
Reputation: 3996
Quote:
Originally Posted by Dopo View Post
BS to get people to support that stupid tax
Property tax really punishes hard working people

A person that works hard all his life to have a nice house, is stuck paying taxes after retirement because he decided to invest his money in his house.
Well, nobody ever votes our legislators out, so nothing is going to change.
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Old 10-05-2017, 12:52 PM
 
Location: Houston
5,614 posts, read 4,941,546 times
Reputation: 4553
Quote:
Originally Posted by usc619 View Post
Houston residents are a corrupt politician's dream, you can start with MUD taxes.
Houston residents don't pay MUD taxes. You usually only pay MUD taxes if you live in an unincorporated area, or some incorporated cities where the city doesn't want to pay to extend existing water / sewer lines to a new development.
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Old 10-07-2017, 08:05 AM
 
1,915 posts, read 3,240,851 times
Reputation: 1589
Property taxes in the Houston metro are high and are growing. I did my research, and the proposed income tax plan will cost my family anywhere from an additional $3000 to $7000 more a year in taxes, depending on the specific details, due to the elimination of the personal exemptions and state and local tax deductions, which includes our property tax. The proposed plan also eliminates the sales tax deduction, and it eliminates the deduction for charitable giving and mortgage interest if you don't itemize under the new plan. That will seriously hurt us and many families in the Houston area.

I wrote my local representative that lives in the same city as me about my concerns, and I got back some generic form letter that clearly shows he never read my letter and could care less about many Texas families getting hit hard by this.

I am EXTREMELY DISAPPOINTED that my local elected U.S. officials support legislation that will hurt many hardworking Texas families. I feel betrayed by my own party and elected representation.

Last edited by Htown2013; 10-07-2017 at 08:19 AM..
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Old 10-07-2017, 08:18 AM
 
Location: Sugar Land, TX
1,614 posts, read 2,663,212 times
Reputation: 2029
Quote:
Originally Posted by Htown2013 View Post
Property taxes in the Houston metro are high and are growing. I did my research, and the proposed income tax plan will cost my family anywhere from an additional $3000 to $7000 more a year in taxes, depending on the specific details, due to the elimination of the personal exemptions and state and local tax deductions, which includes our property tax. That also includes charitable giving and mortage interest, if you don't itemize under the new plan, and the sales tax deduction. That will seriously hurt us and many families in the Houston area.

I wrote my local representative that lives in the same city as me about my concerns, and I got back some generic form letter that clearly shows he never read my letter and could care less about many Texas families getting hit hard by this.

I am EXTREMELY DISAPPOINTED that my local elected U.S. officials support legislation that will hurt many hardworking Texas families. I feel betrayed by my own party and elected representation.
I did some looking into it also, and the plan would hurt us as well. Possibly even more depending on where they would delineate those top two tax brackets. It is very possible our tax bracket could go way up on top of the exemption issue.
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Old 10-07-2017, 08:45 AM
 
1,915 posts, read 3,240,851 times
Reputation: 1589
Quote:
Originally Posted by Dopo View Post
BS to get people to support that stupid tax
Property tax really punishes hard working people

A person that works hard all his life to have a nice house, is stuck paying taxes after retirement because he decided to invest his money in his house.
Agreed. We are already paying a lot more in Property Taxes than Principal, Mortgage Interest, and Insurance combined. Insurance is likely to go up, so paying off the mortage will not save us that much when this is paid off. Older retired folks get hit very hard by this.
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Old 10-07-2017, 01:56 PM
 
26,191 posts, read 21,587,222 times
Reputation: 22772
My effective property tax rate is under 2% living inside the loop. What really kicks it up out in the burbs is mud/pud and school taxes especially when they don't give the full exemption HISD does
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Old 10-07-2017, 01:57 PM
 
26,191 posts, read 21,587,222 times
Reputation: 22772
Quote:
Originally Posted by Htown2013 View Post
Agreed. We are already paying a lot more in Property Taxes than Principal, Mortgage Interest, and Insurance combined. Insurance is likely to go up, so paying off the mortage will not save us that much when this is paid off. Older retired folks get hit very hard by this.
Senior do get to cap their rates. It's much better to be homesteaded as a senior than non senior
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Old 10-08-2017, 10:42 AM
 
Location: Katy,TX.
4,244 posts, read 8,761,226 times
Reputation: 4014
Quote:
Originally Posted by LocalPlanner View Post
Houston residents don't pay MUD taxes. You usually only pay MUD taxes if you live in an unincorporated area, or some incorporated cities where the city doesn't want to pay to extend existing water / sewer lines to a new development.
I'm sure most knew that I was referring to the metro area. Do you pay property taxes?
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