That was fast

[JABIII]

HOUSTON, Texas (KTRK) -- Unprecedented rises in property valuations in Texas have stunned multiple homeowners receiving their tax bills.

Some Texas homeowners got the shock of property tax balances that are astronomically higher than what they paid last year. And according to one agency that protests the tax bills, some of those people say they can't afford to pay.

Shannon Nash owns four acres in Smith Point in Chambers County. In 2021, his property was valued at about $65,000. One year later, it increased to almost $382,000 in value.

"I was mostly just in shock," Nash said. "I called a number of people that I know around here and they were already in shock. They

had gotten their bills before me."

In 2021, Nash owed about $1,700 in property taxes. In 2022, he will have to pay Chambers County more than $10,000.

A chief appraiser with Harris County, Roland Altinger, called the property valuation increases "unprecedented."

"In my almost 40 years, I have never seen such massive increases in market values," Altinger said.

According to Altinger, 95% of the county is seeing an increase in their property valuation by an average of 20%

Harris County is the largest appraisal district in the United States, meaning they cannot value each property individually.

Instead, a mass appraisal is used, in which groups like properties use data and statistical analysis to determine the valuations.

The challenge they face when fighting to lower the value is the difference between the appraised value and the market value. The appraised value considers homestead exemptions, which cap the increase at 10% yearly.

That determines how much a homeowner pays in taxes. Market values are determined by the amount the home could sell. In many cases, those numbers are different because of the housing boom.

https://abc13.com/property-value-tax...7vd1ufozbs7tmx

[Tater]

[turbo]

Mercy.

I experienced a similar problem with my pickup when I moved to Blythewood after college.

I told the Auditor, after weeks of dealing with his lackies, that if he would pay me the same amount for my pickup that the county had it valued at, I'd sell it to him and pay his taxes for him.

At the end of our meeting, I had a nearly $200 reduction in my property tax bill for said pickup.

People are stupid. Property taxes are stupider.

[everlast]

You'll own nothing, and you'll be happy.

[MolliesMaster]

You'll own nothing, and you'll be happy.

Like button.

[SaltMuck]

Pay to make it. Pay to spend it. Pay to own it. Pay to die.

[WoodieSC]

You'll own nothing, and you'll be happy.

And that's exactly why these fund managers, et al, are the ones buying up properties of all types and sizes, sight unseen, for 25%-100+% over the stated tax value. The same goes for the (mostly) Lefties that are moving from CA, OR, WA, etc, with wads of cash in hand.

If this crap keeps up, and we don't put a clamp on our Planning Commissions, etc, we'll all be forced to sell and live in rentals we won't be able to afford, either.

[Glenn]

Congrats. You done got Yella'stoned.

[dubs]

My understanding is that with South Carolina being an ATI (assessable transfer of interest) state, there is a law that caps the ATI increase for taxable value at 15%. So, lets say the taxable market value of a property is $100,0000 and it sells for $125,000, that is the new ATI market value. However, your county can only up the taxable value to $115,000. That is at least my understanding.

Should keep stuff like what is going on in that article from happening. Should being the key word.

[tprice]

My understanding is that with South Carolina being an ATI (assessable transfer of interest) state, there is a law that caps the ATI increase for taxable value at 15%. So, lets say the taxable market value of a property is $100,0000 and it sells for $125,000, that is the new ATI market value. However, your county can only up the taxable value to $115,000. That is at least my understanding.

Should keep stuff like what is going on in that article from happening. Should being the key word.

That is the way I understand it as well


Big problem in Texas is no income tax so my guess is this is only way to get extra revenue.

I can not imagine expecting $1700 tax bill and it comes in over $10K, gonna send escrow companies scrambling as well

Pretty damn shitty and my guess ANY politician running for November election may as well go ahead and clean out their desk and go find a job

[scatter shot]

And that's exactly why these fund managers, et al, are the ones buying up properties of all types and sizes, sight unseen, for 25%-100+% over the stated tax value. The same goes for the (mostly) Lefties that are moving from CA, OR, WA, etc, with wads of cash in hand.

If this crap keeps up, and we don't put a clamp on our Planning Commissions, etc, we'll all be forced to sell and live in rentals we won't be able to afford, either.

This is a bigger issue than most realize. Real estate investors are buying 35%+ of all the new home construction in most markets and turning them into rentals.
I'm not sure what their doing in the preowned market but they're smashing the new home market.
Throw in the deep pocket, yankee money and it's getting harder and harder for a 2 income, blue collar family to buy a decent house in Charleston/Summerville.

[Maggie Glover]

my brother's home in Charleston has doubled on Zillow in five years. He is very nervous. Fortunately, we have some protection in SC for a primary residence on just how much an assessment can increase, but still. Get ready. MG

[Fish]

The county saw fit to increase the tax on our farm by over 100%. We asked them what they thought they were doing and they dropped it to the previous rate. Government employees that do this sort of thing are maggots.

[bitesize]

BTR communities are here to stay for a while- all the Nationals are getting in on the action.

[dubs]

The county saw fit to increase the tax on our farm by over 100%. We asked them what they thought they were doing and they dropped it to the previous rate. Government employees that do this sort of thing are maggots.

We have owned our hunting property since 2016. In the last six years, my dad has had to write a ‘kindly worded letter’ to the assessor’s office three of those years after they re-assessed and over valued the property. They changed it back each time…. Scary thing to think about is how many people don’t know they can challenge it and just pay the bill.

Also, I just don’t get why they keep trying to push the value, is it a power thing? It’s not like they get a bonus for getting more of our money.

[SaltMuck]

Popped me for a 15% increase this year, expecting another next tax year.

[Palmetto Bug]

Reassessment is bullshit. Your taxes shouldn't go up simply because somebody built a McMansion on the lot two doors down. Curbside reevaluation of the value of a home is absurd. People that buy a house they intend to stay in the rest of their lives get pushed out when the yankees screw up the last place they lived and move down here. The long time residents can't keep up with the tax increases and get gentrified out of the neighborhood.

Taxes should be based on the last reliable value of a house and that is when it was sold. That value should be locked in until a sale or transfer of title when it could be truly reassessed by an appraiser. The millage rate could be adjusted based on the value of the GDP or some other index to whatever is needed to make up the revenue evenly across the tax district. That would encourage people to stay put and build roots. It might slow down suburban crawl. It would keep older couples from having to move out in their golden years because their little piece of heaven got discovered by come-ya's. And although I don't think taxes should be used to coerce behavior, I think there should be some advantage to rebuilding on a lot instead of clearing new land. If there was a suspension of taxes for some number of year if an old house is razed and a new one built in its place, it would encourage the revitalization of dilapidated areas, stem unban rot and further slow urban sprawl.

Everyone should learn how to search tax records (or hire a realtor) to fight each reassessment on your property. Assessors are famous for using unrealistic comparables to base their reevaluation. They cherry pick sales that might not have been normal, truly representative or even arm's length transactions. You can search tax records and find what similar properties sold for in your area and use that data to refute the value that the assessor arbitrarily assigned to your property. It's really easy for a realtor to do with MLS type apps. They very often fold without much pushback and count on most people not even question their wild ass guess at the value.

[darealdeal]

Shouldn’t have property taxes in the first place. We are gonna charge you a tax that we get to decide on how valuable it is.