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3.5% #13555076 05/12/20 07:49 PM
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I thought property taxes couldnt be raised more than that moving forward without an election? My property taxes came in today and thats way off. Did I miss something?


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Re: 3.5% [Re: B-rader] #13555077 05/12/20 07:49 PM
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Your homestead appraisal can be raised by up to 10% in a single year.


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Re: 3.5% [Re: B-rader] #13555086 05/12/20 07:55 PM
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How about land, other homes? So what the heck was everyone excited about the 3.5% deal for?


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Re: 3.5% [Re: B-rader] #13555101 05/12/20 08:03 PM
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That might deal directly with the tax rate and not the valuation of your house. Although the same result I think its their way to manipulate it.

Re: 3.5% [Re: B-rader] #13555104 05/12/20 08:05 PM
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Maximum appraisal increase has been 10% for as long as we've been here. And, wouldn't you know it, almost every year my appraisal goes up by 10%!!


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Re: 3.5% [Re: B-rader] #13555108 05/12/20 08:06 PM
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I clicked thinking this was about mudsharks odds of finding his pocketknife.


carry on.


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Re: 3.5% [Re: B-rader] #13555117 05/12/20 08:11 PM
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I never understood this. people want their properties to go up in value. But don't want to pay for it.

Re: 3.5% [Re: B-rader] #13555121 05/12/20 08:15 PM
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I don't, il die here . So I'm not those "people".


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Re: 3.5% [Re: BassFever] #13555161 05/12/20 08:49 PM
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Originally Posted by BassFever
I never understood this. people want their properties to go up in value. But don't want to pay for it.


Who is these people?

No one I know, only way a person benefits from houses going up in is they move to another state or country or far away from where they live now.

Which is not many

And who want to pay more property tax per year? No one that I know of

Re: 3.5% [Re: Uncle Zeek] #13555243 05/12/20 09:34 PM
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Originally Posted by Uncle Zeek
Your homestead appraisal can be raised by up to 10% in a single year.


That's my understanding. For 6 years in a row, 2012 thru 2018 my assessed value went up by the max 10% every year. Lots a folks were complaining about taxes "being raised". however they were ignorant to the fact that the tax rate had not changed only the value of their property.

3.5% sounds more like an effective tax rate not assessment value?

Unless the economy goes completely into the toilet, which it seems to be doing now, but you won't see that until next year on your apprisal, expect your mortgage payment to go up annually.

Even with no increase in tax rates, the appraised value should theoretically go up, as such so will your insurance rates as the collateral holding the note (your house) has also appreciated. Raises the replacement cost of the secured. property.

When I bought my home in 2010 my payment was roughly $1100. With no changes it's now 22ish percent higher. AND that's after I got the PMI removed. So it's closer to a 28% increase in 10 years.

Re: 3.5% [Re: B-rader] #13555246 05/12/20 09:36 PM
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And yes, I disputed the assessment every year and only two out of 10 years got a reduction.

Got a few hundred dollars off of the appraised value. A savings of less than 10$ a year.

The other times I was told based on comps 10% was not significant enough of an increase actually... But that's what the legal cap is.

I think this is going to swing the other way and then next few years.

Re: 3.5% [Re: B-rader] #13555281 05/12/20 10:10 PM
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The 10% is the max the taxes can be raised and not face a rollback election. Anything higher than 10% and the taxing entity can be petitioned and a vote of the people must be held.


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Re: 3.5% [Re: B-rader] #13555289 05/12/20 10:18 PM
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No reason to whine about 3.5%.

In light of the way democrats and republicans are spending today....the pain will be substantial.....especially so for those who earn a good income.


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Re: 3.5% [Re: B-rader] #13555339 05/12/20 10:55 PM
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Not whining retired, frozen property tax rates pilot. I was just wondering .


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Re: 3.5% [Re: B-rader] #13555510 05/13/20 01:21 AM
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For cities and counties the max their levy can increase is 3.5% (not including new value). So in theory if appraisal district value goes up then the tax rate must be adopted at a rate that only increases their levy 3.5%. This would mean that the estimates on your appraisal notices which use last year’s tax rate would be too high. In the past the cities and counties would leave the rate alone, appraisal values would go up and the council members and county commissioners would shrug their shoulders and say “we didn’t raise taxes, we left the rate alone”. Either they weren’t smart enough or just dishonest, because everyone should now that if a government agency collects mor tax dollars then they raised taxes. Senate bill 2 which put in place the 3.5% max increase without an election should change that.


That being said, senate bill 2 also includes a provision that allows any jurisdiction in Texas that has a disaster declaration in place to go up 8% instead of 3.5%. So who knows what may happen at this point. Jurisdictions hold the tax rate elections in September and October, let them know what you think.

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