Jump to content

2021 Property Tax Values are out


MAUFRAIS

Recommended Posts

21 hours ago, DanRydell said:

Is there a single one of you claiming your appraised value is bullshit who couldn’t sell it for that price or higher right now?

Mine went up 21% and is still 20% less than my house would sell for in the next week.

I own a duplex on Walsh Tarlton Ln that went from $707, 000 to $1,207, 000, a 71% increase. Went. Up. $500,000 in one year. Taxes went from $15.8k to 27k.  

And it would not sell for $1.2M.  I could accept something around $900k but not $1.2M. It is a screw job. 

Link to comment
Share on other sites

Just now, Texas73 said:

I own a duplex on Walsh Tarlton Ln that went from $707, 000 to $1,207, 000, a 71% increase. Went. Up. $500,000 in one year. Taxes went from $15.8k to 27k.  

And it would not sell for $1.2M.  I could accept something around $900k but not $1.2M. It is a screw job. 

Almost exact same for me. It's bullshit, I don't mind paying full market value, I'd rather pay less obviously, but this is sanctioned robbery. 

  • Hook 'Em 1
Link to comment
Share on other sites

3 hours ago, cabowabo said:

Is there any way for us regular folk to get access to sales comps in our area?

The one time I successfully protested, I requested that TCAD provide me with all information upon which they based their appraisal.  What they produced included comparables and other information.  Their data also showed that they rated my lot as having a better view than my neighbors on either side and that the quality of my home's construction was higher than my neighbors on either side or in the entire general area.  Once I was sworn in and the hearing began, the TCAD representative admitted that they had made a mistake and proposed a lower valuation to account for their error.  Just wish I'd figured that error out sooner, apparently there's no retroactive adjustments for their errors.

Link to comment
Share on other sites

For those celebrating that the increases weren’t worse, the biggest step up in home prices has occurred from Jan to Apr of this year, which isn’t even factored in to the current appraisals. We could be staring at another 10% increase next year, and the year after, and after, etc. 

Edited by Dbeasy
  • Like 1
Link to comment
Share on other sites

9 hours ago, Texas73 said:

I own a duplex on Walsh Tarlton Ln that went from $707, 000 to $1,207, 000, a 71% increase. Went. Up. $500,000 in one year. Taxes went from $15.8k to 27k.  

And it would not sell for $1.2M.  I could accept something around $900k but not $1.2M. It is a screw job. 

Sir, without your additional $11k how do you expect us to build the neighborhood for the homeless?

  • Hook 'Em 1
Link to comment
Share on other sites

1 hour ago, Dbeasy said:

For those celebrating that the increases weren’t worse, the biggest step up in home prices has occurred from Jan to Apr of this year, which isn’t even factored in to the current appraisals. We could be staring at another 10% increase next year, and the year after, and after, etc. 

Well, the good news is that most appraisal districts don't revalue every year, even when there's evidence that revenue would benefit.

The cost of revaluing, and of "entertaining" all the protests, could easily exceed the revenue gain.

Link to comment
Share on other sites

How bad is this fucking up small time landlords? Seems like many are gonna be cash strapped soon.

Somebody said it upthread but I’ll reiterate. My one rent house is up 33%. No HS cap obviously. It will take 6 month’s rent to pay the property taxes, and no, I can’t raise the rent.
Link to comment
Share on other sites

22 hours ago, Texas73 said:

I own a duplex on Walsh Tarlton Ln that went from $707, 000 to $1,207, 000, a 71% increase. Went. Up. $500,000 in one year. Taxes went from $15.8k to 27k.  

And it would not sell for $1.2M.  I could accept something around $900k but not $1.2M. It is a screw job. 

That's fucking crazy.  I think I know the row of duplexes you're talking about on Walsh-Tarlton.  A friend of mine owns one over there as well that he rents out to folks who want to get into Eanes ISD.  But his baked in rental rate is fucked now because of how high his property taxes went.  It's not like an apartment across the street at the Walsh that'll get filled after 30 days.  He's gotta eat shit on this for the next 15 months because they signed a 2-year lease.  

In all seriousness-I'm helping Eanes ISD work out a deal with some apartment complexes (which could conceivably be spread out to duplex owners) to get a massive break on the Eanes ISD portion of their property taxes (and potentially a small break at City of Austin level which is where you are if I know the area like I think I do), resulting in nearly 1/3rd of your tax burden going away.  If you're willing to rent to teachers/staff for 25% below market rate.  Basically a wash, but doing something really great for the teachers so they don't have to drive in from BFE.  

Link to comment
Share on other sites

5 minutes ago, Updawg said:


It’s gonna be crazy rent hikes after leases are over.

Yep.  'Cause rents were so affordable in primary markets to begin with.  I still remember being called before Council to present on the 2016 mobility bond and asking them to include alongside the "For the average $300,000 (i think that was the number) home owner, this will mean $6/month in additional property taxes" that they should include "For the average $1,000/month renter, this will mean $xx/month in additional rent."  I got chastised by two members who told me that I should know better, that renters don't pay property taxes.  Those two members had the highest percentage of constituents who rent in Austin than the other 8 members.  Fucking sacks of shit.

Link to comment
Share on other sites

Yeah some of y'all are getting screwed.  Between my homestead and rentals I own, I've averaged about 25% increase.  In the current market, I could sell them all for probably 20% more on top of that.

But I'm still going to protest-- you should ALWAYS protest.  My FIL served on the Travis Appraisal Review Board for a couple of years post-retirement, and he said there's a decent chance of getting SOME relief just by showing up and presenting.  Focus on the negatives, how it's different from other properties in the area, etc.  Or you can always hire it out to the companies that do it for a living. 

Edited by utee94
Link to comment
Share on other sites

Yeah some of y'all are getting screwed.  Between my homestead and rentals I own, I've averaged about 25% increase.  In the current market, I could sell them all for probably 20% more on top of that.
But I'm still going to protest-- you should ALWAYS protest.  My FIL served on the Travis Appraisal Review Board for a couple of years post-retirement, and he said there's a decent chance of getting SOME relief just by showing up and presenting.  Focus on the negatives, how it's different from other properties in the area, etc.  Or you can always hire it out to the companies that do it for a living. 
Fucking this.

I don't give a shit if I can sell my house for more. I'm not selling it any time soon, if I can help it, and I'll be fucking damned if I am going to give more money to the government than I already do. Especially when they can arbitrarily select properties to compare and make their case. I'll do the same thing to tell them they're full of shit.
  • Hook 'Em 2
Link to comment
Share on other sites

I worried that the "no new appraisals" in Travis last year would run most of the aggregators and appeal consultants out of business.  Fortunately, some are still around.

For 2020, of the ~17k homes I reviewed in 78750 and 78759, only around 700 went up in value and most of those were not reappraisals, but removals of concessions made in previous appeals.  For example, my home value increased by ~15% last year when functional obsolescence reductions were removed.  Why?  "Because people are moving from California and don't care about those things."  Those were words from a TCAD appraiser.  I did a formal appeal and got some of it back.

This year, my property went up another 15%.  I should appeal again - or hire someone - but I am not sure it will amount to much. 

Anecdotes from real estate agents I know

  • Homes in River Place area often receive 20+ offers in a weekend and go for $150k above asking.
  • Outlier went for $400k above asking (asked ~$900k - sold for $1.3mm)
  • House in NW Austin on market for $1.25mm.  Under contract for $1.4mm cash.  TCAD: 2020 appraisal: $650k; 2021 appraisal: $725k
  • Demand is high and supply is low, so it's only going to get worse.
Link to comment
Share on other sites

I worried that the "no new appraisals" in Travis last year would run most of the aggregators and appeal consultants out of business.  Fortunately, some are still around.
For 2020, of the ~17k homes I reviewed in 78750 and 78759, only around 700 went up in value and most of those were not reappraisals, but removals of concessions made in previous appeals.  For example, my home value increased by ~15% last year when functional obsolescence reductions were removed.  Why?  "Because people are moving from California and don't care about those things."  Those were words from a TCAD appraiser.  I did a formal appeal and got some of it back.
This year, my property went up another 15%.  I should appeal again - or hire someone - but I am not sure it will amount to much. 
Anecdotes from real estate agents I know
  • Homes in River Place area often receive 20+ offers in a weekend and go for $150k above asking.
  • Outlier went for $400k above asking (asked ~$900k - sold for $1.3mm)
  • House in NW Austin on market for $1.25mm.  Under contract for $1.4mm cash.  TCAD: 2020 appraisal: $650k; 2021 appraisal: $725k
  • Demand is high and supply is low, so it's only going to get worse.


I wouldn’t worry about that first part, every other county in the state went up in value last yr and the agents probably had a field day playing covid angle before things played out. And honestly, no way in hell one year gonna sink a decent sized agent unless they’re a startup.
Link to comment
Share on other sites

How foes the property tax cap that was enacted last session play here? Is the cap on the effective rate or the total bill? In other words will the taxing entities have to reduce their effective rates to account for property values increasing so much beyond the allowable cap?

Lulz, that legislation was a joke on actual tax relief. And commercial values are hardly moving this year (apts and industrial will go up some but office/retail/hotels should fall in value) , throw on business personal property values stagnating or decreasing due to under utilization, residential is the only thing going up across the board.
Link to comment
Share on other sites

I worried that the "no new appraisals" in Travis last year would run most of the aggregators and appeal consultants out of business.  Fortunately, some are still around.
For 2020, of the ~17k homes I reviewed in 78750 and 78759, only around 700 went up in value and most of those were not reappraisals, but removals of concessions made in previous appeals.  For example, my home value increased by ~15% last year when functional obsolescence reductions were removed.  Why?  "Because people are moving from California and don't care about those things."  Those were words from a TCAD appraiser.  I did a formal appeal and got some of it back.
This year, my property went up another 15%.  I should appeal again - or hire someone - but I am not sure it will amount to much. 
Anecdotes from real estate agents I know
  • Homes in River Place area often receive 20+ offers in a weekend and go for $150k above asking.
  • Outlier went for $400k above asking (asked ~$900k - sold for $1.3mm)
  • House in NW Austin on market for $1.25mm.  Under contract for $1.4mm cash.  TCAD: 2020 appraisal: $650k; 2021 appraisal: $725k
  • Demand is high and supply is low, so it's only going to get worse.

In-laws from California just bid on a house in Lakeway last week. Offered 90k over asking price and were outbid.


Sent from my iPad using Tapatalk
Link to comment
Share on other sites

I've used five stone for the last 3 or 4 years.  Can't remember. They auto file every year.  They get the appraisal value reduced to some degree every year.  I've never gotten a massive reduction in taxes via them...but I haven't had to pay them much either.  Their fee structure changed this year.  All that said, my appraised value is less than what I could sell the property for...so its hard to complain...too much.  I recommend them.

Link to comment
Share on other sites

15 minutes ago, swraith said:

I've used five stone for the last 3 or 4 years.  Can't remember. They auto file every year.  They get the appraisal value reduced to some degree every year.  I've never gotten a massive reduction in taxes via them...but I haven't had to pay them much either.  Their fee structure changed this year.  All that said, my appraised value is less than what I could sell the property for...so its hard to complain...too much.  I recommend them.

ProTax changed last year to the $150 you pay up front only gets rolled into savings. If no reduction you still owe. Did Five Stones do the same?

Agree on the value being less than what we could actual sell for so I might be out the $150 this year with no benefit.

Link to comment
Share on other sites

10 minutes ago, ZB'Tejas said:

ProTax changed last year to the $150 you pay up front only gets rolled into savings. If no reduction you still owe. Did Five Stones do the same?

Agree on the value being less than what we could actual sell for so I might be out the $150 this year with no benefit.

 

2 minutes ago, jimmyjazz said:

I didn't remember that ProTax had that $150 fee baked in.  Not sure if I'll change . . . they always get me a reduction.

It depends on the customer. Some customers had to pay a fee. Some customers were business as usual in that they take a % of the savings. 

I think it depends on if they think they can get a substantial saving off your appraisal.

Link to comment
Share on other sites

Five stone change to a fee as well last year. Not $150 though, I think it was $50 or whatever they save you.

Been using them for years, sometimes they help sometimes not. Hopefully they do this year. Just got the email that they filed my protest

Link to comment
Share on other sites

protax dumped the $150 requirement for me.  I called them and refused to sign the agreement unless they changed to the old rate... waited 2 months  and right about this time last year they changed to the old rate.

they havent sent me any updated since, so I am assuming I am still on the pay if they save rate.

Edited by AUS-97HORN
Link to comment
Share on other sites

The year I saved the most money, I did it myself.  I was all ready to hire outside help this year because my immediate next door neighbor did about $300-$400k in additions this past year.  And a few houses up the street put in a really high end pool.  But somehow we went down in assessed value.  We all did, the whole street.  Technically both projects weren't finished until January so I'm gonna use the hell outta this next year when I know we'll see a marked jump back up.  

We need to get the house re-appraised for a HELOC so this lower number actually kinda hurts us in the long run, but I'm thinking when they look at market comps---we'll come in much higher.  But then that idiot appraiser will probably share that with Travis County.  I know Zillow isn't that accurate, but it's insane to me the delta between what Zillow has our home at and what Travis County has our home valued.  I think the market value if we had to sell it in 30 days though, is probably right halfway.  Which feels about right given what we assessed us and our neighbors at per square foot/half acre.  

I got a bad feeling about 2022 property taxes to be paid in Jannuary 2023.  

Link to comment
Share on other sites

The year I saved the most money, I did it myself.  I was all ready to hire outside help this year because my immediate next door neighbor did about $300-$400k in additions this past year.  And a few houses up the street put in a really high end pool.  But somehow we went down in assessed value.  We all did, the whole street.  Technically both projects weren't finished until January so I'm gonna use the hell outta this next year when I know we'll see a marked jump back up.  
We need to get the house re-appraised for a HELOC so this lower number actually kinda hurts us in the long run, but I'm thinking when they look at market comps---we'll come in much higher.  But then that idiot appraiser will probably share that with Travis County.  I know Zillow isn't that accurate, but it's insane to me the delta between what Zillow has our home at and what Travis County has our home valued.  I think the market value if we had to sell it in 30 days though, is probably right halfway.  Which feels about right given what we assessed us and our neighbors at per square foot/half acre.  
I got a bad feeling about 2022 property taxes to be paid in Jannuary 2023.  

Cad value doesn’t have shit to do with fee appraisal value. And no idea how/why the fee appraisal would find its way to tcad unless he’s related to a staffer there. It’s a bitch enough getting it from the bank as a homeowner a lot of times.
  • Hook 'Em 1
Link to comment
Share on other sites

1 minute ago, bluto said:


Cad value doesn’t have shit to do with fee appraisal value. And no idea how/why the fee appraisal would find its way to tcad unless he’s related to a staffer there. It’s a bitch enough getting it from the bank as a homeowner a lot of times.

I know, but last time they asked for our county numbers as a "jumping off point."  And that loud-mouth fucking moron that did our appraisal told us she sent over a copy to TCAD because her appraisal of our home was less than the one we showed her.  She thought she was doing us a solid.  I don't know the IQ required to be a bank appraiser, but it's gotta be low.  She counted our full bath downstairs as a half bath because it didn't have a bedroom attached to it.  And counted our third garage bay as "2-car garage with storage area" because we didn't park a car in it, just had it filled with bikes and tools.  \

The other thing that annoyed me, which is not her fault, is that they couldn't use market comps in our immediate HOA unless they hit the MLS despite 80% of the home sales in our HOA occurring off-market due to insane demand.  So I get to fight with the re-appraiser this year and then Travis CAD next year.  And then I think I'm just gonna fight Dan Patrick the year after that.  

 

Link to comment
Share on other sites

  • 1 month later...

I did the efile protest and they offered me 5k below the original appraised value. 

I've done informal protests before and had good results but not sure if it's worth it in this market. 

Has anyone had luck with informal protests at TCAD this year?

Edited by zman13
Link to comment
Share on other sites

1 hour ago, zman13 said:

I did the efile protest and they offered me 5k below the original appraised value. 

I've done informal protests before and had good results but not sure if it's worth it in this market. 

Has anyone had luck with informal protests at TCAD this year?

i think they gave me ~$20k off but my house got re-appraised to market because of the remodel killed my home owner exemption 

Link to comment
Share on other sites

Abbot says those experiencing homelessness are doing so due to unaffordable housing. The solution?  Make home ownership and rental prices go up. 
 

I guess spending cuts are just out of the question. 
 

https://www.kvue.com/mobile/article/news/politics/austin-mayor-and-council/austin-homestead-examption-could-double-city-council-item/269-81027a95-a9bf-4487-855c-972c222fbae8
 

AUSTIN, Texas — On Thursday, the Austin City Council was set to discuss three items related to property taxes.

Item 6 on the agenda directs the City's chief financial officer to run the numbers to figure out the potential impacts of increasing the property tax rate by 8% in the next fiscal year. Item 6 passed on a 10-0 consent agenda vote Thursday, with Councilmember Mackenzie Kelly (District 6) off the dais.
 

In 2019, Texas lawmakers decreased how much cities can increase property taxes without voter approval, dropping the rate from 8% to 3.5%. But cities are authorized to go back to 8% if there is a disaster declaration. 

Gov. Greg Abbott renewed the State's declaration because of the COVID-19 pandemic back in March and issued another declaration after the February winter storms, which opens the door for the higher increase. 

Edited by ChickenSandwich
  • Hook 'Em 1
Link to comment
Share on other sites

we are at the point for me, where the house I bought in April 2011, which i have refi'd 2 times to take advantage of lower rates, my yearly mortgage PI only payment is now less than the amount I pay in fucking property tax!  Another fucking 8% increase is going to hurt. 

 

these assholes are really trying to emulate San Fran in every possible way.   pay the homeless, buy hotels for the homeless, and then make the cost of living so fucking astronomical that folks are gonna start living in fucking campers down by the river.

 

obigatory

 

tenor.gif

  • Hook 'Em 2
Link to comment
Share on other sites

we are at the point for me, where the house I bought in April 2011, which i have refi'd 2 times to take advantage of lower rates, my yearly mortgage PI only payment is now less than the amount I pay in fucking property tax!  Another fucking 8% increase is going to hurt. 
 
these assholes are really trying to emulate San Fran in every possible way.   pay the homeless, buy hotels for the homeless, and then make the cost of living so fucking astronomical that folks are gonna start living in fucking campers down by the river.
 
obigatory
 
tenor.gif

Just to be clear that 8% cap isn’t on an individual tax parcel basis.
Link to comment
Share on other sites

  • 1 month later...
2 hours ago, ZB'Tejas said:

Got my results back from ProTax (Travis) and they were able to get it lowered by 8% on the appraised value. Not going to affect the assessed but i'll take it.

they got my value reduced by about 4.5% lower, but same as you, not gonna actually save me money this year because my increase was 31%. 

so net, net is I had a 25% increase... that 10% cap kicked in.    Im not even sure thats gonna help for next year, based on what I am hearing, the fucking dirt alone in my neighborhood has double in value in the last 3 years.

and all those mcmansion making home flippers keep turning 1600sq ft homes into 2400 sq ft with all high end wood floors/ kitchen upgrades, appliances taking the home from $500k to 1.2M.... you get enough of those in your hood and even the older unrenovated homes are now suddenly appraising at 8-900k

Link to comment
Share on other sites

  • 2 weeks later...

Five Stone did get me 7.5% reduction in appraised value, but they also got it reduced to exactly what I paid for it last year. 

Hmm... wonder where TCAD got that number (it sure as shit wasn't from me)?

Better than a kick in the teeth, but was hoping for a better outcome. 

Link to comment
Share on other sites

18 minutes ago, hornian said:

Five Stone did get me 7.5% reduction in appraised value, but they also got it reduced to exactly what I paid for it last year. 

Hmm... wonder where TCAD got that number (it sure as shit wasn't from me)?

Better than a kick in the teeth, but was hoping for a better outcome. 

Yeah. They probably just submitted your h1.  

Link to comment
Share on other sites

  • 2 months later...

The entire system is broken. I pay 12k a year with a homestead and an industrial zoned property that is 12 acres, literally adjacent to our hood and houses 4 different businesses pays 6k a year. Texas is "pro business" because we fuck the middle class. 

Edited by Pasken
  • Hook 'Em 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.



×
×
  • Create New...