Our home tax, registration went from like $150 to $180. I fumed about the $30 increase.

Unfortunately, it also decreased in value this year versus increasing

Saying all of that, I'm jealous and wish I could do what you are doing...be very cool to get to see the country the way you are...

You can thank Klaus Schwab. (World Economic Forum)

"You will own nothing and be happy"

The plan is to rob you of everything... they can twist your arm into selling your property by raising the taxes on it.

Guess who the buyer is gonna be? BlackRock, Vanguard, (insert mega corporation) (or subsidiary thereof)

The Founding Fathers are rolling in their graves.

If what you were espousing were to be true, valuations would be on the decrease. Not what I am seeing and frankly, that’s a good thing. You don’t want to own property in an area with declining values.

HUD, I understand what you’re saying but:

The value of my home and rural property is exploding. And yet, it’s only where I live, never to be sold because I have to live somewhere. All I see is more expense and taxes. I have a homeowners exemption.

My rural133 acres would be unaffordable without the wildlife exemption.

Why? Migration to Texas and “Build back better” BS is inflationary.

USPS Informed delivery shows we're getting our today. Not looking forward to opening that letter.

Should the system be different for someone who has no plans to sell? How in the world would that work?

The 10% annual cap on taxable value is merely kicking the can down the road. Our market value went up INSANE amounts over the last two years. Both 2023 and 2024 have seen annual 28% increases in the market value. The taxable value only went up by 10% each of the last 2 years. But, the taxable amount will just keep going up 10% a year until it eventually catches up to market value.

This system is completely broken and is not sustainable. We used to be a very affordable state with low property values, which is why property taxes were beneficial compared to state income taxes. Obviously, that is no longer the case. Texas needs a state income tax to replace property taxes.

Doesn't matter if there is slight reduction to the actual tax rate when the taxable values are exploding at a much higher rate. We need substantial tax reform.

I’m not asking for any more taxes. Never been involved with a state income tax what rates do they run?

This is true in many neighborhoods where gentrification has taken hold. Any big city in Texas with traditionally poor/minority neighborhoods close to the city center have largely been booted out because they can no longer afford to pay the property taxes. West Dallas in the Trinity Groves area is a great example of this. Even out in the burbs- in McKinney, the east side of Hwy 5 and downtown is getting gentrified right now because they can't afford to stay in their own homes, many of which have been paid off for decades.

Depends on the state. A neighboring state like Oklahoma averages 0.90% and tops out at 4.75%. Arkansas tops out at 5.90%. Assume Texas would have something similar and you make $150k. Let's just your income tax rate is 5%. You'd owe $7500 in taxes, which is a hell of a lot less than you'd own on a house with a taxable value over $1mm. Everybody's situation is different, but I just wrote a check in January for $33k to the county for property taxes. And our market value just went up another 28%. That's not sustainable.

I just got a text from a buddy in N. Dallas. They bought their house 12 years ago for ~$600k. It gradually rose to $800k in 2022. Last year, he said it went up to $1mm. This year, it increased by over $800k to over over $1.8mm! That's an 80% increase in 1 year and 125% in 2 years.

I’d loose money on that, no thank you

No it’s not. It affects the regime that owns a house or property.
It doesn’t matter if they make 30k a year and r 300k a year.

Yep, will stand behind my statement. The average annual income in Belize is less than $7k.

States with income tax STILL have property taxes; the State of New York gets about 8 pennies of every dollar my brother makes in Manhattan plus he has to cover a chunk of change on his house taxes in Brooklyn PLUS he works for free 3-4 months out of the year to cover his IRS bill at the federal level (he gets NO pity from me on that one).

I would MUCH rather pay local taxes than create a new level of bureaucracy and third level of taxation at our Capitol. This would let new bean counters in a new level of bureaucracy in Austin take more of MY money than the A$$holes at the IRS already were. At least property taxes stay local - get politically involved and you can have some swing with how that is spent; otherwise just piss and moan piss and moan piss and moan piss and moan piss and moan.

With rental properties, property taxes are simply a pass through item anyway. If the entity owning a rental property has to pay more in taxes, then my tenants see an increase in rent. Owning investment property is not a charitable endeavor (although it can and probably will be for me eventually).

Guess what they still have property taxes in Belize.

Duh . . ., they also have income tax.

Yep, will stand behind my statement. The average annual income in Belize is less than $7k.[/quote]

Guess what they still have property taxes in Belize.
[/quote]

Duh . . ., they also have income tax.[/quote]

Which means it is not just a first world problem. It is a worldwide problem. Duh..arse

Seems to me many want the benefits of our still great country and none of its trappings. Taxes are in direct response to money spent. There are two options to property taxes with one of them being income taxes which no wage earner wants and then there is the opportunity for a sales tax which disproportionally affects lower income households and will never come to fruition.

Yes, we are talking about 1st world problems.

Btw and if I moved to Belize, the referenced 3rd world country, I would pay no income tax on any foreign earned income, no capital gains and would be quite happy with the .75% to 1.5% property tax rates applied in that country. I also wouldn't be living in Amercia - something not likely to happen.

People want all the privileges & rights of living here and then to grumpus about what are maintenance costs. If you can't afford it, then sell it and relinquish yourselves of all those encumbrances. Set yourselves free.

My Appraised value went up $28k while my Market value went up $19k. I will protest online and hope to reduce maybe 50% of the raise.

Stick a spoke in Abbotts wheels and send that buffoon flying. And Patrick too.
Texas doesn't have a state income tax...we can do away with the property tax too.
If the government used money efficiently,they wouldn't need to tax people out the wazoo.

The way I’m interpreting most “grumpus”is paying the wasteful govt more and more $.

Mine went up 2k and homestead cap is still not in their favor, for another 5-6 years. I guess I cannot complain much.