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Old 04-30-2009, 10:19 PM
 
61 posts, read 273,580 times
Reputation: 36

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I was prepared to pay property tax and I am extremely efficient in saving last year, I was prepared for the taxes. However is anyone else out there shocked by how much property tax went up from last year? I do not think I can even sell my home for how much the property value is assessed at. I am concerned as the economy is not at its best I am paying nearly 50% of the value of my monthly mortgage to property tax. I am so down about this does anyone having any helpful tips? I may use a consultant to assist me in lowering my tax.
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Old 04-30-2009, 10:24 PM
 
Location: ✶✶✶✶
15,216 posts, read 30,608,484 times
Reputation: 10852
Have you appealed to HCAD? (Kind of assuming Harris County here I know)

Sales tax revenues are down so they're looking for other ways to get in your pocket.
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Old 05-01-2009, 06:37 AM
 
2,639 posts, read 8,301,525 times
Reputation: 1366
Myproperty taxes were lowered...I would file an appeal online TODAY!
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Old 05-01-2009, 07:34 AM
 
Location: San Antonio-Westover Hills
6,884 posts, read 20,436,596 times
Reputation: 5177
Don't be down--believe me, it happens to most people every year. The cap is 10% and more often than not, HCAD is going to try to meet that cap.

Ours went up exactly 10%. Kind of funny that in this "recession" that they would even consider it. Hmm.

Anyway, the reason they make it so super simple to protest is because they know most everyone will do it. They're just hoping for the 8 or 9% that won't bother for various reasons.
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Old 05-01-2009, 07:35 AM
 
Location: Non Extradition Country
2,165 posts, read 3,782,794 times
Reputation: 2261
Mine stayed the same.. Appeal...
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Old 05-01-2009, 07:39 AM
 
Location: The house on the hill
1,148 posts, read 3,562,270 times
Reputation: 1008
Mine went DOWN $67K! Yes; I was in shock. This is the first year I didn't have to fight it.
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Old 05-01-2009, 10:13 AM
 
551 posts, read 2,729,210 times
Reputation: 261
Just curious, are you in a new build (1-2 years old)? If so, for the first and sometimes second year, the county appraisal is only on the land, and it is roughly 20-25% of what the full house appraisal will be.

This often comes as a shock to people who were not aware of this, especially if they are using an escrow account to cover the tax payments. The bank is usually another year or so behind (with their escrow analysis) and will pay the full tax bill out of your escrow account, leaving you with a significant deficit. The bank will then want the difference made up the following year (usually they will allow you to make monthly payments), along with the new increased escrow payment. This can easily make it seem like more than 50% of your total mortgage payment is just going to taxes.
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Old 05-01-2009, 10:45 AM
 
Location: Charleston Sc and Western NC
9,273 posts, read 26,533,137 times
Reputation: 4741
Mine went up the full 10%. Like every year. If I pull a permit it's at least 30%.

I am really getting tired of it.I don't think I've ever had a "capped" account. Ever year I go in and fight, every year I get a token 5,000 reduction off the 60-75,000 increase.........and the cycle continues. <sigh>
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Old 05-01-2009, 11:03 AM
 
Location: ✶✶✶✶
15,216 posts, read 30,608,484 times
Reputation: 10852
Quote:
Originally Posted by EasilyAmused View Post
Mine went up the full 10%. Like every year. If I pull a permit it's at least 30%.

I am really getting tired of it.I don't think I've ever had a "capped" account. Ever year I go in and fight, every year I get a token 5,000 reduction off the 60-75,000 increase.........and the cycle continues. <sigh>
If you put your house up for sale could you get your appraisal value for it?

Sounds like HCAD thinks the housing boom never ended.
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Old 05-01-2009, 11:06 AM
 
Location: Charleston Sc and Western NC
9,273 posts, read 26,533,137 times
Reputation: 4741
Quote:
Originally Posted by jfre81 View Post

Sounds like HCAD thinks the housing boom never ended.

I think someone forgot to program "Recession" into the computer program that makes these values.
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