I am homesteaders and you are correct in your numbers. And to be transparent here, I am actually a disabled veteran and receive an even larger exemption than most people. The value can grow more than the capped 10% in a few ways. The first was from the first assessment after I bought it. I bought for 170k and yet it was immediately assessed for 210k. Now I am up to about 250k. No improvements. I will be happy to sell for 200k.
The second thing they can do that I discovered was this last time they tried to say it was worth more than that (before I got it down to the 250k it is now), and did even note that the capped “taxable” increase- essentially saying that they have pre-locked in +10% increases for the next so many rounds of assessments until the taxable value is even with the assessed value. I argued it down. The value is still inflated.
Now, my personal opinion? I’m actually not mad about paying for taxes. I enjoy the idea of everyone pitching in what they can afford and together we can build a better community, nation, and world. I just hate that my city is playing in the real-estate speculation game as a way to pump their budget and the taxes I pay are going to a bunch of bullshit. Fuck dallas.
That makes sense. I was curious because my boss who lives in Plano neglected to homestead so he was getting violated on his taxes. I discovered it, we filled out this form and talked to that person and eventually got him several thousand dollars of retroactive credit.
My house was assessed at something like $130k the year before I bought it and two years later it’s in the $230k range, but I’m fine with it as the old assessment was based on a structure that was torn down and my current house was built brand new on the original footprint. So it’s more or less assessed at what I paid for it.
I do get amused trying to explain to people out of state how property tax protest is pretty much the national sport of Texas.
I am homesteaders and you are correct in your numbers. And to be transparent here, I am actually a disabled veteran and receive an even larger exemption than most people. The value can grow more than the capped 10% in a few ways. The first was from the first assessment after I bought it. I bought for 170k and yet it was immediately assessed for 210k. Now I am up to about 250k. No improvements. I will be happy to sell for 200k.
The second thing they can do that I discovered was this last time they tried to say it was worth more than that (before I got it down to the 250k it is now), and did even note that the capped “taxable” increase- essentially saying that they have pre-locked in +10% increases for the next so many rounds of assessments until the taxable value is even with the assessed value. I argued it down. The value is still inflated.
Now, my personal opinion? I’m actually not mad about paying for taxes. I enjoy the idea of everyone pitching in what they can afford and together we can build a better community, nation, and world. I just hate that my city is playing in the real-estate speculation game as a way to pump their budget and the taxes I pay are going to a bunch of bullshit. Fuck dallas.
That makes sense. I was curious because my boss who lives in Plano neglected to homestead so he was getting violated on his taxes. I discovered it, we filled out this form and talked to that person and eventually got him several thousand dollars of retroactive credit.
My house was assessed at something like $130k the year before I bought it and two years later it’s in the $230k range, but I’m fine with it as the old assessment was based on a structure that was torn down and my current house was built brand new on the original footprint. So it’s more or less assessed at what I paid for it.
I do get amused trying to explain to people out of state how property tax protest is pretty much the national sport of Texas.