We've sold everything but the house in Joshua and the lake house. It'll be listed shortly, just finishing up some minor cosmetic issues and putting it on the market. We'll be updating the house in Joshua. Property taxes are nuts...I'd love to live at the lake, but it's 1.25 hours from work on a good traffic day.

It's always been taxation without representation.


That's the problem, there is no answer.

My tax plan would call for taxing the heck out of the poor. Would provide an incentive to work and make a bunch of money to escape the “new” high tax bracket.

Ditto here in Middle TN. Nashville instituted a 34% personal property increase last summer. The surrounding areas will follow.

We're selling both rent houses. Net proceeds go into dividend-paying stocks. With a zero percent capital gains tax rate on qualified dividends, we'll net more actual income than we have with the rental houses. Plus side is no surprise expenses like replacing an HVAC system or foundation repairs. Downside is the possiblity that stock prices could tank.

In the meantime, we'll keep our eyes open for a good deal on commercial property/ies. The house that we live in is paid for and property taxes are frozen at 2009 levels because of the redheads disability exemption, so we'll be ok if/when the real estate bubble bursts.

I was crunching numbers on doing this as well. Mine are all payed off, I think the proceeds would generate 25k tax free money and with what's gone on with property taxes that's not alot less than what they generate now after tax. I bought those houses to park cash and get some return outside stock market exposure and they have served their purpose. Triple net commercial is the way but it's hard to get into with the right tenants

Heh, our houses have loss years that carry forward into gains years. Our projected dividend yield should be far greater than our real after-tax rent income has been, with alot less effort.

Very true about commercial - have to be patient for the right deal on a property. To be fair, there can be good money on gross leases for things like light industrial or office warehouse type space. My stepfather used to say that he made his money when he bought a property rather than when he leased or sold it.

I've come to realize there is a bunch of truth in this. Same with stocks honestly.

What are you guys paying? We pay around 1% of the value in annual taxes

2.something. 1 of mine had property tax of 3500 a year when I bought it 6 years ago, now it's over 7k another was 3k and it's almost 6k. The small one was 1700 now 2400.

Around 2.5%, depending on the city and school district.

My taxes on my home were $4500 first year we lived here. I'll be paying $9500 in 2021. My 3 rentals are recent acquisitions but they're not subject to the 10% annual increase limit. So one of them was appraised for $105k last year and $180k this year - one year near double in taxes. Other only went from $80k to $90k, so I can live with that in comparison, although a 10% increase in taxes in any other scenario would be unheard of.

We need to go to income taxes in texas. I'd rather pay 10% on my net income than 2.5% of the entire home value annually. In 40 years, I will have paid the value of the home in taxes...that's insane.

I think the taxes when you buy it should be the taxes you always pay. Now if you want to put a "capital gains taxes on the difference in value when you sell I'd have that conversation. And schools need to tap the breaks on spending. They are the habitual violators

And those of you who dont see it as a problem just remember this in 20 years when you want to retire but have to sell your house cause you cant afford to retire and stay in the house you payed for and lived your whole life in. That's what is going on now.

Much better idea than even income taxes. I could get behind this 100%

Also fully agree with your last post. Old folks being taxed out of their home is a real problem. It's insane when schools are nicer than 99% of businesses and they're using our money to do it. They don't need state of the art facilities to learn reading and writing and algebra....

Once Uncle Sam gets your tax money in one way, he usually doesn't like to give it back.