Posted on 04/29/2014 1:43:52 PM PDT by SeekAndFind
When you pay rent, you pay property taxes. So, when home values go up, property tax appraisals go up. Thus, rent goes up.
My property taxes here in Houston increased about 8%. They’re still building in the last section of my neighborhood and they’re selling them faster than they’re building them. There are no “spec” homes. Most builders aren’t building “spec” homes. I personally think it’s because they know things are shaky.
Yeah...I get that. Which is why I made the post.
Mine have gone up the legal 10% the past 20 years (with the exception of that one year) plus a wee bit more with their fuzzy math which, of course, adds up over the years to significant increases. It does no good to protest because everyone’s taxes are being raised. By being taxed out of our homes, I’ve said many times on FR how ours have gone up from an amount equal to 2 weeks income to now 2 1/2 MONTHS takehome pay. Tell me there isn’t something seriously wrong with that. Because of the taxes, we can’t afford normal repairs and upkeep. Our next door neighbors bought to retire here. Sadly, they have had to put off retirement just to afford the taxes and are thinking it’s impossible so may have to sell. In the past couple years, literally every other house (with ours being the only exception) for a mile has on the market because of the taxes. Just last summer, two sets of our relatives who are well off wanted to retire here but after looking around decided to continue working and stay in Austin where it is... drum roll... cheaper.
I’m not seeing spec houses but figured that was due to Texas growing at such a rapid rate.
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