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We moved here from a never to be mentioned state to the west on August 14, 2014.  Bought this house and moved in October 14, 2014.

 

Got a letter from the county assessor's office yesterday telling me that their estimate put the current value at $6,100.00 more than twice as much as we paid for the place...and that doesn't include nearly $30,000.00 in improvements that have gone into the place.

 

It's rapidly approaching what we sold our house west of here for.

 

Who'da thunk it?

 

UH....seems I posted this in the wrong place.  can someone move it to the Saloon for me?  Thanks.

Edited by Forty Rod SASS 3935
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11 minutes ago, Forty Rod SASS 3935 said:

$6,100.00

am I reading this wrong or did you miss some zero's?

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$6,100.00 dollars?  I'd love that Here in Austin that is about what the appraisal on the small bathroom is. 

But, to make you feel better: I protest the tax appraisal every year and do fairly well keeping it at the lowest possible increase of appraisal.  What kills the issue is land values here. In my neighborhood land is now going for about 1.5 million and acre.  We have a touch over a 1/3 acre on our lot. Hard to argue the appraisal on that since that is what land is selling for  around us.  All the older homes like ours built in 1946 - 1950 are either being torn down and replaced with 3 to 6 residences on the lot or being rehabed to the tune of about 400,000 cost to rehab and then sold.

Oh, we paid $18,000 for this 1946 pier and beam 1100 square foot house  in 1974.  Last year the appraisal was $475,000 but I got it down to $400,000.

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3 minutes ago, Injun Ryder, SASS #36201L said:

I thought you were going to try your hand at counterfeiting!:lol:

I think I saw something on TV that a gub'mint or quasi-gub official said, "Printing money doesn't lead to inflation."  :rolleyes:

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13 hours ago, El CupAJoe said:

am I reading this wrong or did you miss some zero's?

Nope, twice what I paid for it plus $6100.00....in just over six years.  The place next door sold for double its value just seven months ago and the new owner has since put several thousand into yard work and paving.

Edited by Forty Rod SASS 3935
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1 hour ago, July Smith said:

Texas is bad that way too.  It's just criminal that they can tax you at the current market value. 

Because of my age and Arizona's laws, I'm "grandfathered" in and my taxes are only about $2.00 a month more than they were four years ago.

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46 minutes ago, Forty Rod SASS 3935 said:

Nope, twice what I paid for it plus $6100.00....in just over six years.  The place next door sold for double its value just seven months ago and he has since put several thousand into yard work and paving.

I'm still confused. Is $6100.00 your tax?

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That is what I have deduced also.

 

If he paid $200,000 6 years ago, this year his house is appraised at $400,000 plus $6,100, for a total of $406,100.

 

That of course is just an example - I neither know nor care how much he paid for his house originally.

Edited by Alpo
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Everything is weird. Neighbors house sold in one day at $126 s.f. I have had my place for sale 4 months now at $87 s.f. and more that twice the size of his plus, I live on a bluff over the lake. Advertised in California, St. Louis and Kansas City. His place is not on the bluff.:blink:

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One of the few good things about California is our "Proposition" process.  Ordinary citizens can gather signatures and petition to have things put on the ballot that the wethers in the state legislature might not want to address. Because of this and to the great annoyance of today's political "leaders" in the state, we have Proposition 13, passed in 1978 in a taxpayer's revolt.

 

Proposition 13 severely limits the amount residential properties can be re-assessed for taxation purposes - something like a maximum of 2% per year, until the property was sold.  This was needed... I knew people who were older, retired, and forced to sell their long paid-for homes because they couldn't afford the radically increased property taxes.  

 

And when it passed, many places (like San Francisco) immediately set out to punish the population by closing playgrounds, cutting school programs (like Drivers Ed), and more.  I lived in San Francisco at the time; the very next morning the playground next door was chained shut.  

 

Of course, it was challenged - but in '92 SCOTUS upheld it, 8-1.  And to this day, a particular "Party-In-Charge" continues to try to find a way to dismantle it.  <_< 

 

                                  Understanding California's Property Taxes

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5 hours ago, Capt. James H. Callahan said:

I think he means it's appraised at 2x the original price + 6100.

JHC

Thanks, Cap.  That's what I meant.

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7 hours ago, Cliff Hanger #3720LR said:

Tom, I see you're trying that new government math. Not working out so well for ya..<g>

Yeah, 'tis.  I could sell my house and get the increase, but then I'd have to buy a new over-inflated house and pay to move into it and remodel it.

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10 hours ago, Henry Horns said:

Houses here in our part of Apache Junction are going for almost double what we paid in 2017. Folks in the neighborhood think there's going to be another crash like there was a few years ago.

Let 'er crash.  I'm not going to sell mine anyway, so it won't hurt me much.

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so read this twice , i now accept that the value doubled and had the added bit as well , while not unheard of , thats a big jump in a short time , paper money ........

 

i heard yesterday inflation has finally started to rear its ugly head and interest rates are going up - that is another win as they obviously beat the mortgage rate increases assuming they have a mortgage , 

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On 2/25/2021 at 10:17 AM, Muleshoe Bill SASS #67022 said:

$6,100.00 dollars?  I'd love that Here in Austin that is about what the appraisal on the small bathroom is. 

But, to make you feel better: I protest the tax appraisal every year and do fairly well keeping it at the lowest possible increase of appraisal.  What kills the issue is land values here. In my neighborhood land is now going for about 1.5 million and acre.  We have a touch over a 1/3 acre on our lot. Hard to argue the appraisal on that since that is what land is selling for  around us.  All the older homes like ours built in 1946 - 1950 are either being torn down and replaced with 3 to 6 residences on the lot or being rehabed to the tune of about 400,000 cost to rehab and then sold.

Oh, we paid $18,000 for this 1946 pier and beam 1100 square foot house  in 1974.  Last year the appraisal was $475,000 but I got it down to $400,000.

 

I truly believe that the homesteads should be taxed at purchase price, unless the home is improved or sold. 

It is a shame to watch people taxed out of their central Texas homes by rising values. 

 

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Totally out of character for me ("Buy high ~ sell low!" ^_^), I bought my li'l cottage at the nadir of the market.

 

Supposedly, it's "value" has increased to about 2 1/2 times what I paid for it just under ten years ago.  I'm sure this'll be changing in the not too distant future.  Let it.  Like Forty, I ain't goin' anywhere.  :rolleyes:

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54 minutes ago, Big Hext Finnigan, SASS #37671 said:

 

I truly believe that the homesteads should be taxed at purchase price, unless the home is improved or sold. 

It is a shame to watch people taxed out of their central Texas homes by rising values. 

 

Our taxes when we bought this place were something like 90 dollars for the year. Now without the over 65 age freeze, homestead exemption and the local additional exemptions the taxes would be $9000 a year.  We are paying about 5 grand but that will go up with the results of the recent vote to fund a light railway, and mass transit that may or may not be built.....

Edited by Muleshoe Bill SASS #67022
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5 hours ago, watab kid said:

so read this twice , i now accept that the value doubled and had the added bit as well , while not unheard of , thats a big jump in a short time , paper money ........

 

i heard yesterday inflation has finally started to rear its ugly head and interest rates are going up - that is another win as they obviously beat the mortgage rate increases assuming they have a mortgage , 

Some of it is paper money, but a lot is being driven by all the folks from west of here who are bailing out, selling their inflated homes, and coming here to buy.  It is driving our prices right through the roof.

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