Anyone else shocked

[jcamp]

Man this thread makes me scared to build on the land we are closing on. Luckily the land is already ag exempt and the taxes on it are less than 50 bucks a year. Nervous about what the home and 1 acre will be taxed.

[flywise]

Don't leave out the state. Ever hear of unfunded mandates. Pretty easy to pass all kinds of requirements without providing the money to fund them.

[Throwin Darts]

Nope, everything your wrote is completely wrong.

When you lease, you're paying your portion of the property taxes, upkeep, insurance, everything you'd be paying on a home, PLUS income to the property owner.

The reason you're thinking it's cheaper is because you aren't getting nearly the same asset allocation in an apartment or by renting a house that you would be owning.

No one rents out their property to lose money, absent an incredibly weak real estate market with zero alternative options. That's another silly comment.

I finance multifamily apartment complexes and the amount of taxes they pay is incredibly low. The starting point is 80% of actual value and they work down from there. They definitely don't pay their share of the burden. They hire teams of people to reduce their property tax bill each and every year. If you were to break it down in a rent vs buy apples to apple comparison you will pay far more taxes in a single family home than you would by paying your units share in a multifamily apartment complex, all things held equal in terms of market value of the single family home vs market value of the apartment unit owned by the developer.

[Burnadell]

Mine actually dropped 2.8% this year.

[BitBackShot]

I finance multifamily apartment complexes and the amount of taxes they pay is incredibly low. The starting point is 80% of actual value and they work down from there. They definitely don't pay their share of the burden. They hire teams of people to reduce their property tax bill each and every year. If you were to break it down in a rent vs buy apples to apple comparison you will pay far more taxes in a single family home than you would by paying your units share in a multifamily apartment complex, all things held equal in terms of market value of the single family home vs market value of the apartment unit owned by the developer.

Gosh, silly me. I’m sure you’re correct and all of these apartments are in the business of renting their units out below their cost.

Your cash outlay may be lower renting, but it’s 100% expense to you. No capital appreciation, no principal, no equity buildup, nothing.

Stop.
Think.
Post.

[Throwin Darts]

Gosh, silly me. I’m sure you’re correct and all of these apartments are in the business of renting their units out below their cost.

Your cash outlay may be lower renting, but it’s 100% expense to you. No capital appreciation, no principal, no equity buildup, nothing.

Stop.
Think.
Post.

Surely you aren't that dense. Not a single word of my post said anything about apartment owners renting out units below cost. If you're reading comprehension skills are now out of the gutter go back and give it another go and you will see that I said that apartment complex owners pay far less in taxes on their properties than the true market value would dictate so in an apple to apples comparison renters pay less of the tax burden as a percentage of market value of their residence than homeowners do.

Stop.
Think.
Remove your head from your arse.

[BuckSmasher]

I said that apartment complex owners pay far less in taxes on their properties than the true market value would dictate so in an apple to apples comparison renters pay less of the tax burden as a percentage of market value of their residence than homeowners do.

Don't want to get in the middle of a good internet fight, just want to respond to this little tidbit.


I think MOST properties are valued by the appraisal district for less than their true market value. I know I wouldn't sell any property I own for its 'appraised' value.

I disagree that renters (via landlords) don't pay their 'fair share' from an assessed value standpoint. Multifamily renters (via their landlords again) pay less in ABSOLUTE terms than the equivalent SFR down the street because their unit is worth so much less. Not in relative property value.

For example, a neighborhood full of SFR's worth $150k might have an apartment complex full of two bedroom units worth $60k a door.

[glen]

Well my property and taxes have increased in value to the point that it is time for me to put it on the market as soon as I can get it ready. I think I'm going to rent a house for a year or two and let someone else deal with the upkeep. The market is right for me and the area I'm in is right for me. I guess Ill be working on it for the next 2-3 months and then get rid of it.

[BitBackShot]

Surely you aren't that dense. Not a single word of my post said anything about apartment owners renting out units below cost. If you're reading comprehension skills are now out of the gutter go back and give it another go and you will see that I said that apartment complex owners pay far less in taxes on their properties than the true market value would dictate so in an apple to apples comparison renters pay less of the tax burden as a percentage of market value of their residence than homeowners do.

Stop.
Think.
Remove your head from your arse.

Hi person that doesn’t notice a tree while standing in the rainforest.

Go read what I wrote, see if you can grasp the underlying message, notice how dumb your response was, next time try to think it through.

Thanks in advance!

- Guy who already covered your dumb recovery post before you made it.

[BitBackShot]

Here’s the long and short of it for those of you confused by responses by people that are arguing ill logic:

Your ROI on renting is 100% loss 100% of the time.

Unless you are an absolute moron, you will ultimately get anywhere from par to some large return back if you buy wisely and hold your property for any amount of time.

Hope that helps.

[Wakehunter]

We contacted a company that finds actual comps in your area and goes to court on your behalf. They got our tax rate reduced from 145k to 108k. I paid them 99$. I ended up saving $700.00 before paying the 99$.

[STX_Shooter]

Mine went down 1k

[Tmag]

We contacted a company that finds actual comps in your area and goes to court on your behalf. They got our tax rate reduced from 145k to 108k. I paid them 99$. I ended up saving $700.00 before paying the 99$.

Liberty county doesn't give comps that are comparable, I'm still baffled by their inability to grasp and understand. I live in Tarkington in an 1800 sf barndominium house with 4 acres of land. They presented a comp that was 40 miles away in Devers, 3000 sf brick with 70 acres of land and a second in Tarkington that was 2400 sf brick with 20 acres. Neither was close to mine in specs.
I presented several places within 10 miles of my house that were absolute comp to mine and they said NO.

[Bighunter2670]

Got mine yesterday and it went up thirty five thousand dollars, what a bunch of **** crooks. In cooke county.

[tdwinklr]

both of our property values went down but the house went up? lol