Property Tax Question 2022 (Abbott: 2013, to buy, subsidized)

[Ghost Town]

Originally Posted by Waffleton

First-time home buyer last year. HCAD appraised value at 30% higher than 2021.

Homestead 10% increase cap doesn't start until 2023, so f**k me right.

Next year after the purchase: always spike in appraisal.
That's quite expected.
That means somehow previous owner managed to keep appraised value below market, maybe even well below.
Typically appraisal values are slightly below market values.
Once you reach market value, it will stop going up a lot and only adjust slowly with further market changes.

[Waffleton]

Originally Posted by Ghost Town

Next year after the purchase: always spike in appraisal.
That's quite expected.
That means somehow previous owner managed to keep appraised value below market, maybe even well below.
Typically appraisal values are slightly below market values.
Once you reach market value, it will stop going up a lot and only adjust slowly with further market changes.

Since I closed in March 2021, I was able to protest last year to reduce the appraised value to what we closed as, but that's more of a reflection of the good deal we got and fortunate timing since the market has since been on overdrive.

[Dopo]

I'm doing a lot of research on this

Does anybody know what all of this mean? I've been unable to find an answer to it

Building Areas
Description Area
BASE AREA PRI 1,481
MAS/BRK GARAGE PRI 440
BASE AREA UPR 1,073
OPEN FRAME PORCH PRI 96
OPEN MAS PORCH PRI 35

[WRM20]

PRI - Primary floor(normally ground)
MAS/BRK - Masonry/Brick
UPR - Upper
FRAME - Wooden framing

[JohnStein]

Originally Posted by Waffleton

First-time home buyer last year. HCAD appraised value at 30% higher than 2021.

Homestead 10% increase cap doesn't start until 2023, so f**k me right.

Is the latest HCAD appraisal higher or lower than what you paid for? 30% higher than 2021 doesnt mean much if they have a small basis to begin with. If what you paid for is still over that, consider you got a good deal.

[Dopo]

Originally Posted by WRM20

PRI - Primary floor(normally ground)
MAS/BRK - Masonry/Brick
UPR - Upper
FRAME - Wooden framing

Thanks,
so I'm guessing I can measure my house and I could protest if I find that their dimensions are incorrect


I was also told by a neighbor that he had his taxes lowered by submitting pictures to show that his house has lots of crap that needs to be fixed.

[Sugarlandbubba]

Originally Posted by Raider Scott

I have hired two of the bigger companies to help me lower my appraisal creep and neither one did a large world of good.


Oh, I got a reduction, but it was maybe a couple of hundred dollars and I had to pay them out of that. Hardly worth it.


Out property tax system in this state is insane. One huge reason we might be retiring somewhere else than Texas.

Yep! it looks like we are going to have a property tax increase for the next 3 years. Texas needs to freeze the homestead residential taxable value until the property is sold.

[Dopo]

FYI

https://www.square-footage.com/How-d...use-size-.html
https://www.texasrealestate.com/memb...asure-a-house/
Determining the Square Footage of a House – Part 1 of 3

[Raider Scott]

Originally Posted by Sugarlandbubba

Yep! it looks like we are going to have a property tax increase for the next 3 years. Texas needs to freeze the homestead residential taxable value until the property is sold.

That will NEVER happen.


This is my big problem with politicians like Abbott and Patrick. Dan Patrick ran on reigning in the property appraisal system in Texas, but he gets in office and gets obsessed with abortion and boys that might go into the ladies restrooms. They KNOW where the problem lies with property taxes...but choose to do nothing about it.



This system is not going to reform itself because the state is making too much money off of this crazy system.

[Dopo]

Originally Posted by Raider Scott

This is my big problem with politicians like Abbott and Patrick. Dan Patrick ran on reigning in the property appraisal system in Texas, but he gets in office and gets obsessed with abortion and boys that might go into the ladies restrooms. They KNOW where the problem lies with property taxes...but choose to do nothing about it.

Finally we agree
Everytime I saw they political adds I wondered "Do they offer absolutely anything for the average blue collar familiar?"