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Re: Property Values Crazy.
[Re: wp75169]
#8596962
05/13/22 01:44 PM
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Joined: May 2006
Posts: 9,794
ILUVBIGBUCKS
THF Trophy Hunter
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THF Trophy Hunter
Joined: May 2006
Posts: 9,794 |
To fight or not to fight?
I bought 130 acres in Jack County in Feb 2021 for $400k. The 2021 Total Market Value was $284k with Timber value at $9,400…i paid $200 in taxes (It had a Cattle AG)
This year my Proposed Market Value is $790k with Timber value staying the same at $9,400. Estimated taxes at $215! (By the way i successfully switched from cattle ag to wildlife exemption)
The questions: I certainly have no issue with the $215! However, i just started to build a home on this land and plan to move in next summer. If my dirt is appraised at $790k, What is going to happen with my tax bill when my house is built?!!? I dont think i should protest a $215 tax bill even though the dirt isnt worth their $790k estimate. Do i just wait and see what they hit me with when the house is done?
Thoughts? I think you need to deed the property with house on it separately. I know a few people with 100 ish acres exempt and own a separate unrelated 1 acre property with their house on it. That may not be best in your county or even relevant but it’s worth looking into. I would fight the tax increase no matter what. This is correct. I believe different counties have different amount of land set to go with the home for taxation. In Bexar we had to do 1 acre with the house. Just under 1800sf living on an acre and we pay over $5k/year on that and only $300 on the remaining 31.5 acres yet the land is now worth more than double the house and 1 acre.
High fence, low fence, no fence, it really doesn't matter as long as you're hunting!
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Re: Property Values Crazy.
[Re: Stub]
#8597168
05/13/22 08:35 PM
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Joined: Jan 2014
Posts: 397
Stealthjr
Bird Dog
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Bird Dog
Joined: Jan 2014
Posts: 397 |
Thanks everyone for the input so far!
Does the Wildlife AG have ANY effect on the homesite property tax?
Example: Does a $500k house in Jack County WITHOUT an AG exemption pay the same property taxes as a $500k house WITH an AG exemption?
Thanks!
There's nothing better than killin it and grillin it!
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Re: Property Values Crazy.
[Re: Stealthjr]
#8597170
05/13/22 08:40 PM
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Joined: Oct 2012
Posts: 25,521
Creekrunner
THF Celebrity
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THF Celebrity
Joined: Oct 2012
Posts: 25,521 |
Thanks everyone for the input so far!
Does the Wildlife AG have ANY effect on the homesite property tax?
Example: Does a $500k house in Jack County WITHOUT an AG exemption pay the same property taxes as a $500k house WITH an AG exemption?
Thanks! Yes, I believe so. The 1 acre homesite is carved out and treated just like it was in town.
...and have dominion over the fish of the sea, and over the fowl of the air, and over every living thing that moveth upon the earth. Gen. 1:28
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Re: Property Values Crazy.
[Re: Stealthjr]
#8597213
05/13/22 09:36 PM
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Joined: Sep 2007
Posts: 4,313
oldoak2000
Extreme Tracker
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Extreme Tracker
Joined: Sep 2007
Posts: 4,313 |
To fight or not to fight? I bought 130 acres in Jack County in Feb 2021 for $400k. The 2021 Total Market Value was $284k with Timber value at $9,400…i paid $200 in taxes (It had a Cattle AG) This year my Proposed Market Value is $790k with Timber value staying the same at $9,400. Estimated taxes at $215! (By the way i successfully switched from cattle ag to wildlife exemption) The questions: I certainly have no issue with the $215! However, i just started to build a home on this land and plan to move in next summer. If my dirt is appraised at $790k, What is going to happen with my tax bill when my house is built?!!? I dont think i should protest a $215 tax bill even though the dirt isnt worth their $790k estimate. Do i just wait and see what they hit me with when the house is done? Thoughts? You could (and should) easily file a protest, because you purchased LESS THAN A YEAR from the appraisal date 1/1/2022, and simply need to show them your purchase contract dated Feb 2021 for 400K. They should easily draw the appraisal back to 400k. Your not protesting the tax amount, just the 'appraisal value' of the dirt that you bought less than a year ago, and that counts more than any other comparison. I wouldn't waste the chance to do this, as they won't accept the purchase contract next year (it will be more than a year old), and they sure as hell won't lower the value - they never do without a protest. It will be appraised again on 1/1/2023, and if the house is finished then they'll separate out 1acre for house, and rest will remain ag exempt (keep your receipts/proof of ag exempt activities).
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Re: Property Values Crazy.
[Re: Stub]
#8597248
05/13/22 10:25 PM
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Joined: Aug 2020
Posts: 913
BigfootWallace
Tracker
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Tracker
Joined: Aug 2020
Posts: 913 |
Something I have noticed here lately is the amount of people who give out investment advice while paying an enormous tax bill. I'm sorry but I don't need your thoughts on bitcoin or other investments when you're paying $15k in property taxes to live on .23 acres lol. Might as well throw your money out the window.
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Re: Property Values Crazy.
[Re: BigfootWallace]
#8597250
05/13/22 10:36 PM
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Joined: Feb 2008
Posts: 14,216
glens
THF Celebrity
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THF Celebrity
Joined: Feb 2008
Posts: 14,216 |
Something I have noticed here lately is the amount of people who give out investment advice while paying an enormous tax bill. I'm sorry but I don't need your thoughts on bitcoin or other investments when you're paying $15k in property taxes to live on .23 acres lol. Might as well throw your money out the window.
Yeah , Do like an Idiot said before, "Downsize"
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Re: Property Values Crazy.
[Re: glens]
#8597256
05/13/22 10:47 PM
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Joined: Aug 2020
Posts: 913
BigfootWallace
Tracker
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Tracker
Joined: Aug 2020
Posts: 913 |
Something I have noticed here lately is the amount of people who give out investment advice while paying an enormous tax bill. I'm sorry but I don't need your thoughts on bitcoin or other investments when you're paying $15k in property taxes to live on .23 acres lol. Might as well throw your money out the window.
Yeah , Do like an Idiot said before, "Downsize" I would never "downsize". No reason to when you can Ag or Wildlife a big piece of property and pay less than the dumb subdivision people do for a tiny sliver of "land".
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Re: Property Values Crazy.
[Re: BigfootWallace]
#8597279
05/13/22 11:33 PM
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Joined: Sep 2012
Posts: 16,239
Jimbo1
THF Celebrity
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THF Celebrity
Joined: Sep 2012
Posts: 16,239 |
Something I have noticed here lately is the amount of people who give out investment advice while paying an enormous tax bill. I'm sorry but I don't need your thoughts on bitcoin or other investments when you're paying $15k in property taxes to live on .23 acres lol. Might as well throw your money out the window.
Yeah , Do like an Idiot said before, "Downsize" I would never "downsize". No reason to when you can Ag or Wildlife a big piece of property and pay less than the dumb subdivision people do for a tiny sliver of "land". Painting with a pretty broad brush...
FJB - Lets Go Brandon BBB - Bring Back Better Awake - Not Woke!
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Re: Property Values Crazy.
[Re: Jimbo1]
#8597412
05/14/22 02:53 AM
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Joined: Feb 2008
Posts: 12,225
Grizz
THF Celebrity
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THF Celebrity
Joined: Feb 2008
Posts: 12,225 |
Something I have noticed here lately is the amount of people who give out investment advice while paying an enormous tax bill. I'm sorry but I don't need your thoughts on bitcoin or other investments when you're paying $15k in property taxes to live on .23 acres lol. Might as well throw your money out the window.
Yeah , Do like an Idiot said before, "Downsize" I would never "downsize". No reason to when you can Ag or Wildlife a big piece of property and pay less than the dumb subdivision people do for a tiny sliver of "land". Painting with a pretty broad brush... It's the only brush he has.
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Re: Property Values Crazy.
[Re: Stub]
#8597473
05/14/22 04:44 AM
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Joined: Aug 2020
Posts: 913
BigfootWallace
Tracker
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Tracker
Joined: Aug 2020
Posts: 913 |
Yep, the common sense brush is all I have lol
Pointing out the folly of paying more for a tenth of an acre than 100. I'm sure it hurts some to even think about.
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Re: Property Values Crazy.
[Re: glens]
#8597490
05/14/22 09:53 AM
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Joined: Jul 2019
Posts: 14,400
Hudbone
THF Celebrity
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THF Celebrity
Joined: Jul 2019
Posts: 14,400 |
Something I have noticed here lately is the amount of people who give out investment advice while paying an enormous tax bill. I'm sorry but I don't need your thoughts on bitcoin or other investments when you're paying $15k in property taxes to live on .23 acres lol. Might as well throw your money out the window.
Yeah , Do like an Idiot said before, "Downsize" From, evidently, an idjit - If you don't want to pay for that which you own, you do have options. What other acceptable option would there be to reduce your property tax burden other than downsizing? Somes wanna gritch and do nothing. Might make 'em feel better, but gets 'em nowheres. The world ain't perfect. You can make it better, but it will never be perfect.
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Re: Property Values Crazy.
[Re: glens]
#8597534
05/14/22 12:32 PM
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Joined: Jul 2013
Posts: 6,154
tlk
THF Trophy Hunter
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THF Trophy Hunter
Joined: Jul 2013
Posts: 6,154 |
Something I have noticed here lately is the amount of people who give out investment advice while paying an enormous tax bill. I'm sorry but I don't need your thoughts on bitcoin or other investments when you're paying $15k in property taxes to live on .23 acres lol. Might as well throw your money out the window.
Yeah , Do like an Idiot said before, "Downsize" Calling me an idiot because my wife and I downsized? Classy
You can't fix stupid
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Re: Property Values Crazy.
[Re: Bee'z]
#8597539
05/14/22 12:50 PM
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Joined: Dec 2008
Posts: 41,357
J.G.
THF Celebrity
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THF Celebrity
Joined: Dec 2008
Posts: 41,357 |
They've gone mad with power. Grayson county is getting a big talk from me. However big they want. Let's be co-council for each county. I will come with you to Grayson, you come with me to Fannin. Yall want to argue? Watch this.
800 Yard Steel Range Precision Rifle Instruction Memberships and Classes Available
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Re: Property Values Crazy.
[Re: oldoak2000]
#8597575
05/14/22 02:16 PM
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Joined: Oct 2014
Posts: 12,412
Duck_Hunter
THF Celebrity
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THF Celebrity
Joined: Oct 2014
Posts: 12,412 |
To fight or not to fight? I bought 130 acres in Jack County in Feb 2021 for $400k. The 2021 Total Market Value was $284k with Timber value at $9,400…i paid $200 in taxes (It had a Cattle AG) This year my Proposed Market Value is $790k with Timber value staying the same at $9,400. Estimated taxes at $215! (By the way i successfully switched from cattle ag to wildlife exemption) The questions: I certainly have no issue with the $215! However, i just started to build a home on this land and plan to move in next summer. If my dirt is appraised at $790k, What is going to happen with my tax bill when my house is built?!!? I dont think i should protest a $215 tax bill even though the dirt isnt worth their $790k estimate. Do i just wait and see what they hit me with when the house is done? Thoughts? You could (and should) easily file a protest, because you purchased LESS THAN A YEAR from the appraisal date 1/1/2022, and simply need to show them your purchase contract dated Feb 2021 for 400K. They should easily draw the appraisal back to 400k. Your not protesting the tax amount, just the 'appraisal value' of the dirt that you bought less than a year ago, and that counts more than any other comparison. I wouldn't waste the chance to do this, as they won't accept the purchase contract next year (it will be more than a year old), and they sure as hell won't lower the value - they never do without a protest. It will be appraised again on 1/1/2023, and if the house is finished then they'll separate out 1acre for house, and rest will remain ag exempt (keep your receipts/proof of ag exempt activities). I agree. Happened to us (too long of a story, and it sorta worked out ok) but you need to protest this one and get it drawn back to what you bought it for. Will help in the long run.
I just turned it on . I was looking bird dogs in the butt this morning.
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Re: Property Values Crazy.
[Re: BigfootWallace]
#8597577
05/14/22 02:27 PM
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Joined: Sep 2012
Posts: 16,239
Jimbo1
THF Celebrity
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THF Celebrity
Joined: Sep 2012
Posts: 16,239 |
Yep, the common sense brush is all I have lol
Pointing out the folly of paying more for a tenth of an acre than 100. I'm sure it hurts some to even think about. You claim "common sense" but all you're doing is disparaging suburban homeowners. Classic one upper!
FJB - Lets Go Brandon BBB - Bring Back Better Awake - Not Woke!
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Re: Property Values Crazy.
[Re: J.G.]
#8597885
05/15/22 01:18 AM
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Joined: Jul 2015
Posts: 23,224
Bee'z
The Beedazzler
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The Beedazzler
Joined: Jul 2015
Posts: 23,224 |
They've gone mad with power. Grayson county is getting a big talk from me. However big they want. Let's be co-council for each county. I will come with you to Grayson, you come with me to Fannin. Yall want to argue? Watch this. Say when. Let's go get this done
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Re: Property Values Crazy.
[Re: BigfootWallace]
#8597938
05/15/22 03:01 AM
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Joined: Nov 2010
Posts: 3,308
Marc K
Veteran Tracker
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Veteran Tracker
Joined: Nov 2010
Posts: 3,308 |
Somethping I have noticed here lately is the amount of people who give out investment advice while paying an enormous tax bill. I'm sorry but I don't need your thoughts on bitcoin or other investments when you're paying $15k in property taxes to live on .23 acres lol. Might as well throw your money out the window.
Interesting investment position to take. I may not be a high roller like you, but but my property taxes have not been my biggest concern over the years. I REALLY, REALLY hate property taxes but I see it as an overhead item like fuel. My strategy has been to very carefully pick the right area to live in (sometimes with high taxes) that will double and triple my own home value every few years. That provides equity to buy bigger land. Again, you may be doing a lot better by chasing low property taxes as your investment strategy and I get that.
A Democracy is when two wolves and a lamb vote on the dinner menu. That is why this country was specifically not designed as a Democracy. We are a Constitutional Republic.
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Re: Property Values Crazy.
[Re: Stub]
#8597953
05/15/22 03:39 AM
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Joined: Feb 2010
Posts: 11,658
GusWayne
THF Celebrity
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THF Celebrity
Joined: Feb 2010
Posts: 11,658 |
BigDwallace has said it, let it be written
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Re: Property Values Crazy.
[Re: Marc K]
#8597960
05/15/22 04:21 AM
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Joined: Jan 2012
Posts: 29,177
TXHOGSLAYER
THF Celebrity
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THF Celebrity
Joined: Jan 2012
Posts: 29,177 |
Somethping I have noticed here lately is the amount of people who give out investment advice while paying an enormous tax bill. I'm sorry but I don't need your thoughts on bitcoin or other investments when you're paying $15k in property taxes to live on .23 acres lol. Might as well throw your money out the window.
Interesting investment position to take. I may not be a high roller like you, but but my property taxes have not been my biggest concern over the years. I REALLY, REALLY hate property taxes but I see it as an overhead item like fuel. My strategy has been to very carefully pick the right area to live in (sometimes with high taxes) that will double and triple my own home value every few years. That provides equity to buy bigger land. Again, you may be doing a lot better by chasing low property taxes as your investment strategy and I get that. BUUUUUURRRRNNNNNNNNN!!!!!!!!!!!!
LETS GO BRANDON
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Re: Property Values Crazy.
[Re: Marc K]
#8597969
05/15/22 05:27 AM
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Joined: Aug 2020
Posts: 913
BigfootWallace
Tracker
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Tracker
Joined: Aug 2020
Posts: 913 |
Somethping I have noticed here lately is the amount of people who give out investment advice while paying an enormous tax bill. I'm sorry but I don't need your thoughts on bitcoin or other investments when you're paying $15k in property taxes to live on .23 acres lol. Might as well throw your money out the window.
Interesting investment position to take. I may not be a high roller like you, but but my property taxes have not been my biggest concern over the years. I REALLY, REALLY hate property taxes but I see it as an overhead item like fuel. My strategy has been to very carefully pick the right area to live in (sometimes with high taxes) that will double and triple my own home value every few years. That provides equity to buy bigger land. Again, you may be doing a lot better by chasing low property taxes as your investment strategy and I get that. I'm not "chasing" anything, just trying to live the highest quality of life possible while not making bonehead financial decisions. I obviously have a much different view on life (both literally and figuratively) than most here. In this market it doesn't matter where you are, real estate is doubling and tripling everywhere. I still see no advantages in buying property with a huge tax burden. It's a free country so you are welcome to pay a ton in taxes and then go pay someone else $3-5k every year to use their land to hunt on while paying $5 per gallon to drive back and forth to it. To each his own. I would rather not have a tax bill and be able to wake up in the morning jump in the sxs and go hunting.
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Re: Property Values Crazy.
[Re: Bee'z]
#8597984
05/15/22 10:47 AM
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Joined: Mar 2019
Posts: 969
GNTX
Tracker
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Tracker
Joined: Mar 2019
Posts: 969 |
They've gone mad with power. Grayson county is getting a big talk from me. However big they want. Yeah, they have lost their minds. Wife owns a lot near (not on) Texoma in a pretty run down area. The appraisal was about double. This is an empty lot with a chain link fence on 3 sides. The back of the lot adjoins COE property. There is no way in he!! that empty lot is worth $100K. Just ridiculous.
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Re: Property Values Crazy.
[Re: tlk]
#8598082
05/15/22 02:23 PM
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Joined: Feb 2008
Posts: 14,216
glens
THF Celebrity
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THF Celebrity
Joined: Feb 2008
Posts: 14,216 |
Something I have noticed here lately is the amount of people who give out investment advice while paying an enormous tax bill. I'm sorry but I don't need your thoughts on bitcoin or other investments when you're paying $15k in property taxes to live on .23 acres lol. Might as well throw your money out the window.
Yeah , Do like an Idiot said before, "Downsize" Calling me an idiot because my wife and I downsized? Classy Nope, wasn't directed at you. Could see where most Folks could save a bunch downsizing. I'm one of them. Just applied for Ag on my 10 acres here in Llano County. We'll see where it lands. Probably knock a thousand off my tax bill if I get it. It's (Taxes) only going to go Up and every year.
Last edited by glens; 05/15/22 02:29 PM.
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Re: Property Values Crazy.
[Re: BigfootWallace]
#8598101
05/15/22 02:53 PM
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Joined: Apr 2007
Posts: 60,803
BOBO the Clown
kind of a big deal
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kind of a big deal
Joined: Apr 2007
Posts: 60,803 |
Somethping I have noticed here lately is the amount of people who give out investment advice while paying an enormous tax bill. I'm sorry but I don't need your thoughts on bitcoin or other investments when you're paying $15k in property taxes to live on .23 acres lol. Might as well throw your money out the window.
Interesting investment position to take. I may not be a high roller like you, but but my property taxes have not been my biggest concern over the years. I REALLY, REALLY hate property taxes but I see it as an overhead item like fuel. My strategy has been to very carefully pick the right area to live in (sometimes with high taxes) that will double and triple my own home value every few years. That provides equity to buy bigger land. Again, you may be doing a lot better by chasing low property taxes as your investment strategy and I get that. I'm not "chasing" anything, just trying to live the highest quality of life possible while not making bonehead financial decisions. I obviously have a much different view on life (both literally and figuratively) than most here. In this market it doesn't matter where you are, real estate is doubling and tripling everywhere. I still see no advantages in buying property with a huge tax burden. It's a free country so you are welcome to pay a ton in taxes and then go pay someone else $3-5k every year to use their land to hunt on while paying $5 per gallon to drive back and forth to it. To each his own. I would rather not have a tax bill and be able to wake up in the morning jump in the sxs and go hunting. Hilarious, and so petty. Not only that it clueless to others financial situations.
Bottom line, never trust a man whose uncle was eaten by cannibals.-Sen Joni Ernst
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Re: Property Values Crazy.
[Re: BOBO the Clown]
#8598107
05/15/22 03:09 PM
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Joined: Aug 2020
Posts: 913
BigfootWallace
Tracker
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Tracker
Joined: Aug 2020
Posts: 913 |
Somethping I have noticed here lately is the amount of people who give out investment advice while paying an enormous tax bill. I'm sorry but I don't need your thoughts on bitcoin or other investments when you're paying $15k in property taxes to live on .23 acres lol. Might as well throw your money out the window.
Interesting investment position to take. I may not be a high roller like you, but but my property taxes have not been my biggest concern over the years. I REALLY, REALLY hate property taxes but I see it as an overhead item like fuel. My strategy has been to very carefully pick the right area to live in (sometimes with high taxes) that will double and triple my own home value every few years. That provides equity to buy bigger land. Again, you may be doing a lot better by chasing low property taxes as your investment strategy and I get that. I'm not "chasing" anything, just trying to live the highest quality of life possible while not making bonehead financial decisions. I obviously have a much different view on life (both literally and figuratively) than most here. In this market it doesn't matter where you are, real estate is doubling and tripling everywhere. I still see no advantages in buying property with a huge tax burden. It's a free country so you are welcome to pay a ton in taxes and then go pay someone else $3-5k every year to use their land to hunt on while paying $5 per gallon to drive back and forth to it. To each his own. I would rather not have a tax bill and be able to wake up in the morning jump in the sxs and go hunting. Hilarious, and so petty. Not only that it clueless to others financial situations. It is hilarious, a bunch of "outdoorsmen" griping about high taxes in suburbia
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Re: Property Values Crazy.
[Re: GNTX]
#8598112
05/15/22 03:19 PM
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Joined: Sep 2007
Posts: 4,313
oldoak2000
Extreme Tracker
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Extreme Tracker
Joined: Sep 2007
Posts: 4,313 |
They've gone mad with power. Grayson county is getting a big talk from me. However big they want. Yeah, they have lost their minds. Wife owns a lot near (not on) Texoma in a pretty run down area. The appraisal was about double. This is an empty lot with a chain link fence on 3 sides. The back of the lot adjoins COE property. There is no way in he!! that empty lot is worth $100K. Just ridiculous. Yup - my back 20 acres is mostly creek-bottom floodplain and ravines - not buildable- and they raised the appraisal this year to $20,000 an acre! Good thing its ag exempt.
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