People in the city-data forums discussing this. I don’t own anything there but was curious to know what people are paying in Austin.
Wow, looks truly horrifying. In CA cashflow always improves over time: rent goes up, mortgage and property tax held (almost) fixed. It seems in TX you can get screwed pretty badly.
Mine went up too, not as horrible as people were saying there. But it definitely pauses me from my future investment in TX. Mine is around 3% already.
Sudden jump in assessed value and hence tax occurs in old estate. Whenever someone remodeled and sold at a higher price than an equivalent but not remodeled property, Travis county would use that as the benchmark for all nearby houses. Williamson county is more reasonable.
Does Texas adjust property tax based on sales comps of neighboring houses?
Possibly a result of lower oil prices?
WA charges 1% property tax. There’s no prop 13 style protection, and home values in Seattle have doubled the last 5-years meaning property tax bills have doubled. Apparently there are property tax foreclosures that happen. it’ll only happen if there’s no mortgage on the property. I’m going to research it more.
What is going on in Austin???
Inventory is 1/3 of 2013 when I started buying. Prices and rents are still going up. Able to renew rentals at higher price to compensate for increase in property tax.
If you bought in BA instead in 2103, how would the appreciation compare?
Actually for every AUSTIN purchase, you can run a comparison with a hypothetical BA purchase at the same time. Is it much better in Austin or BA?
Not possible. 1. Price in SV is a few times higher, nobody lender would lend me so much money. Using Austin price as 20% downpayment, need to borrow quite a sum. 2. Have tight configuration, hard to achieve in SV without overpaying significantly. Posted some comparison somewhere already.
Time to sell
It’s that time of year when I hate to look at the mail…
The best state for personal tax is Washington. Average Washington property tax is only about 1/3 of Texas. Neither charges a state income tax.
Is Washington state and local government more efficient? Or is there any other tax revenue to offset low property tax?
Washington may just have a harder working population… California has too many people not working or paying taxes
Not according to this ranking…
We don’t have excessive programs for free loaders to milk people that work.
Meanwhile, in order to receive any help from the government, some cities in Texas require you to kiss Israel’s ass. Ain’t that great how our civil rights are being violated by the govern-mint?
No, it wasn’t a democrat’s idea if you are asking. But the constitution! Buahhhhhhhhhhh!