View Full Version : Homeowners... property tax questions
DJ_Critterus
12-14-2011, 4:06pm
So, I'm closing on my house refinance today. It's a refi of an existing VA loan through USAA. I'm going from 6% to 3.75. Woo Hoo.
When I locked my rate in OCTOBER with the estimated payoff date of sometime in this time frame, my monthly payment was estimated to be about $1109.00 (including insurance and property taxes).
Well, I get the call from USAA today to make sure everything is on schedule and to go over the HUD. My payments are now $1132.00. My total payoff for this loan is also about $2K less than what we estimated the original loan at with everything rolled into it. $20-something isn't going to kill me, but I asked why and was told it's because my property taxes went up?
HTF does this happen when I've done no major improvements to the house and killed the front lawn? Since the housing bubble burst, property values have actually gone down but the city is assessing them much higher than they did when I bought the house. What gives and how do I get this changed? I've also got my disability exemptions submitted and it's like they threw the paperwork away the moment I submitted it to the county clerk. What gives?
'Splain please. :bigears:
NeedSpeed
12-14-2011, 4:09pm
Often the data used for tax apprasials is a bit old and when the market was better.
You can fight it, though I haven't tried.
DJ_Critterus
12-14-2011, 4:11pm
Often the data used for tax apprasials is a bit old and when the market was better.
You can fight it, though I haven't tried.
Guess i needa learn how to do that since i work from home right now and don't have anything going on for work until the middle of next month.....
Property values go down, so tax rates go up.
Property values go up, so tax rates go up.
DJ_Critterus
12-14-2011, 4:14pm
I have paid a company to fight my property taxes for the past couple of years.
Every year they got me a good reduction.
Worth the $$$ for me, YMMV. :cheers:
Which company do you use and what type of company is it. Were the savings worth the price you paid for services.
Yerf Dog
12-14-2011, 4:23pm
Which company do you use and what type of company is it. Were the savings worth the price you paid for services.
:waiting:
Stangkiller
12-14-2011, 4:23pm
You have to fight with your local county on the assessed value. I learned this real quick here in Fort Bend County. I was able to negotiate my assessed value down by about 10k last year. This year they immediately increased back up the 10k and added some more to it. With one quick visit to the appraisers office, I got them down that 10k and another 5k on top of it.
Basically it's going to be an annual trip to the appraisers office for me to keep the appraised value reasonable.
DJ_Critterus
12-14-2011, 4:24pm
You have to fight with your local county on the assessed value. I learned this real quick here in Fort Bend County. I was able to negotiate my assessed value down by about 10k last year. This year they immediately increased back up the 10k and added some more to it. With one quick visit to the appraisers office, I got them down that 10k and another 5k on top of it.
Basically it's going to be an annual trip to the appraisers office for me to keep the appraised value reasonable.
What company did you use or what kind of company did you use to go fight the battle for you? Right now I think they're about $20K high. Next year sometime when my 100% disability rolls in I won't care, but for now.......
Well, looks like I'll be closing Monday. USAA and the title/closing company messed up my numbers and they have to re-do the paperwork. I knew the monthly amount they quoted me was high.
You should get an appraisal from yourr taxing district every year in the mail,unless there is no change in the assessed value from the yar before. Of course, as has previously been mentioned, if the tax rate increases your tax bill still increases. Thereis a certain period of time after appraisals come out that you can actually formally protest the asessed value. You need to check with your local tax office to find out exactly what is going on, and if/when you canprotest the value.
Protesting is not hard, just search for lower comps and photograph everything that is wrong with your house. Foundation problems? Standing water on property that won't drain? Air conditioner broke? Ratty carpet?
Have estimates to repair, photos, etc. Basically, your job is to prove you live in a crack house that shoud be rated as "poor" or "very poor", and that per square foot, yourhome is overvalued comared to your neighbors.
Stangkiller
12-14-2011, 4:41pm
What company did you use or what kind of company did you use to go fight the battle for you? Right now I think they're about $20K high. Next year sometime when my 100% disability rolls in I won't care, but for now.......
Well, looks like I'll be closing Monday. USAA and the title/closing company messed up my numbers and they have to re-do the paperwork. I knew the monthly amount they quoted me was high.
I've done it myself. If you have a realtor friend they can help with your comps, but it looks like Bill hit the nail on the head with his reply...although condition of carpets and stuff like that I have been told are not considered.
lspencer534
12-14-2011, 5:02pm
It's kinda complicated to dispute assessed valuation of property for tax purposes. Usually there's a date by which your dispute must be filed. Then there's a hearing date set for your dispute...or disputes may be heard cafeteria style (take a number and wait). At the hearing it isn't simply a matter of your saying, "That's too damned high!" You need to offer comparables, just like appraising houses.
If you live in the City, then you will have both a City assessment and a County assessment to dispute. Same rules, different deadlines (probably).
Stangkiller
12-14-2011, 5:08pm
It's kinda complicated to dispute assessed valuation of property for tax purposes. Usually there's a date by which your dispute must be filed. Then there's a hearing date set for your dispute...or disputes may be heard cafeteria style (take a number and wait). At the hearing it isn't simply a matter of your saying, "That's too damned high!" You need to offer comparables, just like appraising houses.
If you live in the City, then you will have both a City assessment and a County assessment to dispute. Same rules, different deadlines (probably).
Here in Tx they sit you down with an appraiser first. If the two of you can't reach an agreement, and get management to sign off on it, then you request a hearing.
mrvette
12-14-2011, 5:16pm
Crit, you living in Tx, yes?? all I have to say is that a buddy I known for some 50 + years lives in FW area...and he pays 4500/year in prop taxes....
yeh sure Tx don't have a state INCOME tax, but so what?? neither does Florida, but MY property taxes are a silly 700 bux this year...and guess what?? that INCLUDES TRASH/RECYCLE PICK UP.....
I dunno with your .mil related disability what that does to the applicable/effective taxes in either state...all I know is my taxes are maybe 20% or less then Maryland, now you multiply that out over years and you got a fair chunk of change....
looking back through the look glass, wish I moved here decades ago, and worked for Disney....serious....
all that electronic/electrical crap? easy job...had FUN to boot...
remember, it don't matter WHAT your total is, it's your lifestyle...you bottom line cost of living....and your perceived NEEDS....
:seasix::cert:
Stangkiller
12-14-2011, 5:19pm
Crit, you living in Tx, yes?? all I have to say is that a buddy I known for some 50 + years lives in FW area...and he pays 4500/year in prop taxes....
yeh sure Tx don't have a state INCOME tax, but so what?? neither does Florida, but MY property taxes are a silly 700 bux this year...and guess what?? that INCLUDES TRASH/RECYCLE PICK UP.....
I dunno with your .mil related disability what that does to the applicable/effective taxes in either state...all I know is my taxes are maybe 20% or less then Maryland, now you multiply that out over years and you got a fair chunk of change....
looking back through the look glass, wish I moved here decades ago, and worked for Disney....serious....
all that electronic/electrical crap? easy job...had FUN to boot...
remember, it don't matter WHAT your total is, it's your lifestyle...you bottom line cost of living....and your perceived NEEDS....
:seasix::cert:
My property taxes are over $5,100 for a very modest house. A good portion of that is the MUD taxes...which is the bonds issued to develop your neighborhood <streets, plumbing, parks, drainage ect>
But for the same money in Florida I had almost 1/3rd the house I have out here.
It's kinda complicated to dispute assessed valuation of property for tax purposes. Usually there's a date by which your dispute must be filed. Then there's a hearing date set for your dispute...or disputes may be heard cafeteria style (take a number and wait). At the hearing it isn't simply a matter of your saying, "That's too damned high!" You need to offer comparables, just like appraising houses.
If you live in the City, then you will have both a City assessment and a County assessment to dispute. Same rules, different deadlines (probably).
In Texas, all of the taxing entities except MUD's are reflected on one tax appraisal statement. Everybody uses the same appraisal value. Only one entity to fight, the local appraisal board.
Also, one strategy that has worked well for me is to just overload the appraiser with evidence, and just keep on politely discussing the value. I have found that they usually get tired of listening to me go on and on in a friendly but monotonous manner. They will usually get close to my value just to get me to leave.
DJ_Critterus
12-14-2011, 5:26pm
Mine are around $4K right now, but it looks like they didn't take my disability filing into account again. It's much higher than last year's amount of tax...err.. theft. Hopefully, I'll get my sleep study done and my disability rating adjusted soon and this will be a non-issue (as in 0% property taxes).
DJ_Critterus
12-14-2011, 5:27pm
In Texas, all of the taxing entities except MUD's are reflected on one tax appraisal statement. Everybody uses the same appraisal value. Only one entity to fight, the local appraisal board.
Also, one strategy that has worked well for me is to just overload the appraiser with evidence, and just keep on politely discussing the value. I have found that they usually get tired of listening to me go on and on in a friendly but monotonous manner. They will usually get close to my value just to get me to leave.
I can do that. Not like I haven't had practice annoying the crap out of people on this forum long enough. :cheers:
Jeff '79
12-14-2011, 5:30pm
My property taxes & school taxes make my mortgage go up at least $30.00/ mo, a year....It's absolute highway robbery bull shit.
mrvette
12-14-2011, 5:36pm
My property taxes are over $5,100 for a very modest house. A good portion of that is the MUD taxes...which is the bonds issued to develop your neighborhood <streets, plumbing, parks, drainage ect>
But for the same money in Florida I had almost 1/3rd the house I have out here.
How in HELL that possible?? I live inland maybe 45 minits in Orange Park, Crit has his folks here as I recall, and so not all THAT bad a storm/disaster related location...and THESE daze housing is cheep....
Shit, a house almost big as mine sold for 35 GRAND, yes 35k bux, just around the corner, and two other sold for ~40k.....financed with PITI that makes it about 600/month in payments, with rents at ~800/month for similar housing....you can pay your electric for that differential....
I"m SO glad I never went to Nevada/Kalifornia/SW regions even with the bum business crap....much less Linda here.....
:lol::lol::seasix:
Stangkiller
12-14-2011, 5:44pm
How in HELL that possible?? I live inland maybe 45 minits in Orange Park, Crit has his folks here as I recall, and so not all THAT bad a storm/disaster related location...and THESE daze housing is cheep....
Shit, a house almost big as mine sold for 35 GRAND, yes 35k bux, just around the corner, and two other sold for ~40k.....financed with PITI that makes it about 600/month in payments, with rents at ~800/month for similar housing....you can pay your electric for that differential....
I"m SO glad I never went to Nevada/Kalifornia/SW regions even with the bum business crap....much less Linda here.....
:lol::lol::seasix:
My house in Orlando, 1,080sqft under air. My house out here is 2,600 sqft. I paid about $59k more for my house in Tx than I sold my house <for a major loss> in Florida. I paid nearly the same for each house.
I'm MUCH happier in Texas..the loss in Florida sucks, but it's a small price to pay to be out of Orlando (GHETTO)
My property taxes were $123 this year and I thought that was bad.
mrvette
12-14-2011, 5:47pm
My property taxes are over $5,100 for a very modest house. A good portion of that is the MUD taxes...which is the bonds issued to develop your neighborhood <streets, plumbing, parks, drainage ect>
But for the same money in Florida I had almost 1/3rd the house I have out here.
I dunno what our stage of life cycle is, but I"m age 67, so toward the end, and I have a simple 1600' and narrow 2 car garage with sheds on the side...
I have NO need for more space than I can use, and have two spare bedrooms too boot....NOT a family of 6-8 on welfare....;-))).....like folks around the corner...
:slap::dance:
Jeff '79
12-14-2011, 5:50pm
My property taxes were $123 this year and I thought that was bad.
WHAT ????....Mine were $6200.00 and that's low compared to my neighbors...
Stangkiller
12-14-2011, 5:50pm
I dunno what our stage of life cycle is, but I"m age 67, so toward the end, and I have a simple 1600' and narrow 2 car garage with sheds on the side...
I have NO need for more space than I can use, and have two spare bedrooms too boot....NOT a family of 6-8 on welfare....;-))).....like folks around the corner...
:slap::dance:
I was sick of being cramped in my FL house..I'm on the exact opposite of the spectrum from you though. Getting married in March, and wanted some space for expansion & room for my two large dogs.
mrvette
12-14-2011, 5:55pm
WHAT ????....Mine were $6200.00 and that's low compared to my neighbors...
Dixie is full of shit, no WAY man, be in some forgotten valley in PencilTucky or something, even then, these daze the revenuers WILL find you....they have aerial photographs on Google to do that with....
shit, they can find a damn tent if they want.....
hummm....cave men life style???
even IF they find you, they still have to COLLECT!!#$#$@!@ :rofl:
WHAT ????....Mine were $6200.00 and that's low compared to my neighbors...
This is the first year we have property taxes in my city. It used to be in the charter that we would never have them but it changed because we had no fire protection of our own.
I can only assume it will go up.
Jeff '79
12-14-2011, 6:16pm
This is the first year we have property taxes in my city. It used to be in the charter that we would never have them but it changed because we had no fire protection of our own.
I can only assume it will go up.
Where do you live ? I'm moving there......
Where do you live ? I'm moving there......
37122
mrvette
12-14-2011, 6:40pm
37122
Shit man, in other words...BFE, on the leeward side of the mountain, under the trees, where even SATELLITES can't find you.....:seasix::dance::lol:
themonk
12-14-2011, 6:42pm
http://media-cdn.pinterest.com/upload/186758715767150570_cOQP74Wo_c.jpg
Jeff '79
12-14-2011, 6:50pm
http://media-cdn.pinterest.com/upload/186758715767150570_cOQP74Wo_c.jpg
I've seen that before, but wtf does that have to do with this thread ?...:rofl:
themonk
12-14-2011, 6:53pm
I've seen that before, but wtf does that have to do with this thread ?...:rofl:
Absolutely nothing, I'm a bit sick, achy, tired and I'm at work so back the f'k off. :thehandle:
Jeff '79
12-14-2011, 6:56pm
Absolutely nothing, I'm a bit sick, achy, tired and I'm at work so back the f'k off. :thehandle:
You must be sick....You're acting like DJ with that stoopit handle BS......:puke:
themonk
12-14-2011, 7:00pm
You must be sick....You're acting like DJ with that stoopit handle BS......:puke:
I thought it would be fitting since it's his thread, it was either that or a pic of Jif peanut butter and a six pack of PBR.
Jeff '79
12-14-2011, 7:14pm
I thought it would be fitting since it's his thread, it was either that of a pic of Jif peanut butter and a six pack of PBR.
:rofl::rofl::rofl:
mrvette
12-14-2011, 7:47pm
I thought it would be fitting since it's his thread, it was either that or a pic of Jif peanut butter and a six pack of PBR.
SICK emmmffer.....
:rofl:
ConstantChange
12-14-2011, 10:47pm
HTF does this happen when I've done no major improvements to the house and killed the front lawn? What gives?
In the past 6 years I've lived in my 1,295 SQFT house built in 1996, my property taxes have gone up about $1,200/year. It's stupid.
They built a brand new high school about a mile away from my house. Cha-Ching! That's nice and all, but I don't have kids. They also built a huge vo-tech about 3 miles from my house. Cha-Ching, Cha-Ching!
Death and taxes my man. Death and taxes.
Fastguy
12-15-2011, 12:39am
$20-something isn't going to kill me, but I asked why and was told it's because my property taxes went up?
HTF does this happen when I've done no major improvements to the house and killed the front lawn? I've also got my disability exemptions submitted and it's like they threw the paperwork away the moment I submitted it to the county clerk. What gives?
'Splain please. :bigears:
Your town runs on a budget, if values go down, the tax rate goes up. Its very rare that taxes go down. When you apply for a mortgage, they send a form to the town to see what fiscal year 2012 looks like so they are escrowing the correct amount for next year's taxes. Most towns get paid quarterly so the next bill should be due 2/1/12 and they will be collecting the money at closing to make that payment.
Now the disability thing varies from town to town but that is totally on you to follow up on. No one is giving away free money if they don't have to.
On a related note, if you are considered disabled by the VA, the funding fee on your loan should be waived or discounted. Depending on when the docs were filed, that can be between 2-3% of the loan that they add on as a fee. If you do get a tax abatement, you'll need to forward that info to the lender to adjust the escrow account which can be done even after you close.
(aside from being a smartass on VBOT I am a Licensed Mortgage Originator)
FasterTraffic
12-15-2011, 1:13am
This thread reminds me Prop 13 is something California got right.
http://i714.photobucket.com/albums/ww142/polemic/Forum%20Stuff/CaliFlag-1.gif
allthrottleandsomebottle
12-15-2011, 7:15am
Here in Tx they sit you down with an appraiser first. If the two of you can't reach an agreement, and get management to sign off on it, then you request a hearing.
Same here in VA, I KNOW I have the lowest appraisals in my 10/20 house hood..........:D Many of my County of York employees and I are on a first name basis, mine I think is "OH Shit".........here comes the facts man again :lol:
GL, usually their is only 1 person looking out for you.........
allthrottleandsomebottle
12-15-2011, 9:24am
I'm MUCH happier in Texas..the loss in Florida sucks, but it's a small price to pay to be out of Orlando (GHETTO)
Come on bro.............you used your space very efficiently in FL :D
http://forums.corvetteforum.com/photopost/direct_data/1456/2001_nc_002.JPG
Stangkiller
12-15-2011, 9:28am
Come on bro.............you used your space very efficiently in FL :D
http://forums.corvetteforum.com/photopost/direct_data/1456/2001_nc_002.JPG
:rofl: I don't remember why the mower was in my garage at that point, usually that was in the shed out back.
DJ_Critterus
12-15-2011, 9:44am
My property taxes & school taxes make my mortgage go up at least $30.00/ mo, a year....It's absolute highway robbery bull shit.
Yep. Found out they're building a new school in the area. Texas A&M is building a new school and we have Central Texas College. Guess who's property taxes go to help pay for that whether soembody from this household is attending any of those schools. I don't mind regular schools, but colleges...c'mon. this is bullshit.
DJ_Critterus
12-15-2011, 10:10am
My property taxes were $123 this year and I thought that was bad.
I own unimproved land in Arkansas and that's what my property taxes come out to. Are you living in a shack or a shanty?
Stangkiller
12-15-2011, 12:31pm
and I thought my garage looked bad. :leaving:
My Corvette had thrown up all over the garage. On top of needing to be severely cleaned up / organized. :rofl:
NEVRL8T
12-15-2011, 12:39pm
My property taxes were $123 this year and I thought that was bad.
Mine were $0.00. If they hadn't been, I would be on the street. :leaving:
DJ_Critterus
12-15-2011, 12:48pm
Your town runs on a budget, if values go down, the tax rate goes up. Its very rare that taxes go down. When you apply for a mortgage, they send a form to the town to see what fiscal year 2012 looks like so they are escrowing the correct amount for next year's taxes. Most towns get paid quarterly so the next bill should be due 2/1/12 and they will be collecting the money at closing to make that payment.
Now the disability thing varies from town to town but that is totally on you to follow up on. No one is giving away free money if they don't have to.
On a related note, if you are considered disabled by the VA, the funding fee on your loan should be waived or discounted. Depending on when the docs were filed, that can be between 2-3% of the loan that they add on as a fee. If you do get a tax abatement, you'll need to forward that info to the lender to adjust the escrow account which can be done even after you close.
(aside from being a smartass on VBOT I am a Licensed Mortgage Originator)
Thanks. I'm heading to the county clerk to straighten out my disability/tax on monday. I also did have the funding (same as origination fee?) waived because of my VA disability :thumbs:
Jeff '79...... :thehandle:
mrvette
12-15-2011, 12:48pm
My Corvette had thrown up all over the garage. On top of needing to be severely cleaned up / organized. :rofl:
Shit, you ain't got nuttin on ME man, that place is neat....should see MY heap....
which one are you? on left or right??
who is the other guy??
:lol::waiting:
allthrottleandsomebottle
12-15-2011, 12:53pm
My Corvette had thrown up all over the garage. On top of needing to be severely cleaned up / organized. :rofl:
I gotta give him credit..........he knew exactly where the tool we needed was :hurray:
Stangkiller
12-15-2011, 12:58pm
Shit, you ain't got nuttin on ME man, that place is neat....should see MY heap....
which one are you? on left or right??
who is the other guy??
:lol::waiting:
I'm on the left in the flip flops and Allthrottle is on the right in the mandles. :leaving:
allthrottleandsomebottle
12-15-2011, 1:22pm
I'm on the left in the flip flops and Allthrottle is on the right in the mandles. :leaving:
:lol: The pic.............is what it is..........temps driving back to VA were not FF worthy :D
mrvette
12-15-2011, 1:56pm
:lol: The pic.............is what it is..........temps driving back to VA were not FF worthy :D
I wear the exact same mandals only with SOX in the winter, like now, today....
WHITE sox too boot.....
:dance::dance::rofl::shots:
Fastguy
12-15-2011, 1:57pm
I wear the exact same mandals only with SOX in the winter, like now, today....
WHITE sox too boot.....
:dance::dance::rofl::shots:
You should replace the Dos Equis guy.
"I don't always wear sandals, but when I do, I wear them with white SOX."
mrvette
12-15-2011, 2:06pm
You should replace the Dos Equis guy.
"I don't always wear sandals, but when I do, I wear them with white SOX."
:lol::lol::rofl: I get my ass ragged but good even on this retired old street, and so I just laugh back and say 'I have no one I care the least about impressing, so who YOU got left to impress? your wife of 40 years??'......
we beat each other up pretty good on this street....
:beat::beat::rofl::shots:
oyealiz
12-15-2011, 2:41pm
My property taxes are over $5,100 for a very modest house. A good portion of that is the MUD taxes...which is the bonds issued to develop your neighborhood <streets, plumbing, parks, drainage ect>
But for the same money in Florida I had almost 1/3rd the house I have out here.
Your house isn't modest! :lol:
My taxes in Florida (Tampa area) were a good bit higher than in MC, TX where Stangkiller is. Of course, for the same size house it cost me MUCH less purchase price in TX. The MUD taxes, as Stangkiller mentioned, were $1330 of my annual taxes
We get an assessment each year, DJ, before the tax bill comes out. You should get this as well. There is info in with the assessment about how to go about disputing it.
Stangkiller
12-15-2011, 2:53pm
Your house isn't modest! :lol:
Working class? :confused5: Everybody needs 4 guest rooms plus a separate game room. :yesnod:
modest
[mod-ist] Example Sentences Origin
mod·est
[mod-ist] Show IPA
adjective
1.
having or showing a moderate or humble estimate of one's merits, importance, etc.; free from vanity, egotism, boastfulness, or great pretensions.
2.
free from ostentation or showy extravagance: a modest house.
3.
having or showing regard for the decencies of behavior, speech, dress, etc.; decent: a modest neckline on a dress.
4.
limited or moderate in amount, extent, etc.: a modest increase in salary.
That's far from a flashy house!
simpleman68
12-15-2011, 3:06pm
Dixie is full of shit, no WAY man, be in some forgotten valley in PencilTucky or something....:
I'm livin' in good ole Pennsyltucky and my taxes are just North of $6k.
Ran from Joisey to get away from the insane taxes. :yesnod:
Our medium-sized house in Essex Fells with about a half acre was close to $20k a year in the late 90s. :eek:
Scott
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