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Old 11-25-2023, 04:50 PM
 
Location: Round Rock, Texas
13,447 posts, read 15,469,203 times
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The savings - definitely more than a nothingburger but thanks to the valuation and the "voter approved" property taxes for a few things, wasn't exactly spectacular either.

Last year our home was appraised higher, but the taxable was lower. This year the appraised was lower, but the taxable was higher. I believe Austin 97 explained to me why, but still...meh
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Old 11-26-2023, 02:29 PM
 
Location: Aishalton, GY
1,459 posts, read 1,400,393 times
Reputation: 1978
https://www.businessinsider.com/leav...-costs-2023-11
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Old 12-13-2023, 02:58 AM
 
Location: Austin Metroplex, SF Bay Area
3,429 posts, read 1,559,759 times
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We went from $13,185 down to $9,950 (no exemption in place in 2022).
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Old 12-14-2023, 02:15 AM
 
Location: 78745
4,502 posts, read 4,609,298 times
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Quote:
Originally Posted by blameyourself View Post
We went from $13,185 down to $9,950 (no exemption in place in 2022).
Dayum. $9950 is about $2700 more than what I paid for rent in a nice apartment complex in the year 2000. Ironicly or coincidently, my property taxes run about $2700 a year. Instead of calling it "property taxes", the city should call it "rent". You don't pay, the "Landlord" - aka the "City of Austin" - will evict you.
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Old 12-14-2023, 05:45 AM
 
Location: Austin Metroplex, SF Bay Area
3,429 posts, read 1,559,759 times
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Quote:
Originally Posted by Ivory Lee Spurlock View Post
Dayum. $9950 is about $2700 more than what I paid for rent in a nice apartment complex in the year 2000. Ironicly or coincidently, my property taxes run about $2700 a year. Instead of calling it "property taxes", the city should call it "rent". You don't pay, the "Landlord" - aka the "City of Austin" - will evict you.
Yep and a very real problem people need to look at as they near retirement. How much 'rent' can they afford to pay monthly. Or would they be better off in a state with lower property tax (even if there is an income tax).
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Old 12-14-2023, 06:59 AM
 
15,407 posts, read 7,468,300 times
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Quote:
Originally Posted by Ivory Lee Spurlock View Post
Dayum. $9950 is about $2700 more than what I paid for rent in a nice apartment complex in the year 2000. Ironicly or coincidently, my property taxes run about $2700 a year. Instead of calling it "property taxes", the city should call it "rent". You don't pay, the "Landlord" - aka the "City of Austin" - will evict you.
City taxes are about 25% of the total. The biggest piece is school taxes. The rest is various county taxes. So, no, the City of Austin isn't the bad guy here.
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Old 12-14-2023, 07:35 AM
 
Location: Austin
103 posts, read 52,512 times
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Quote:
Originally Posted by blameyourself View Post
Yep and a very real problem people need to look at as they near retirement. How much 'rent' can they afford to pay monthly. Or would they be better off in a state with lower property tax (even if there is an income tax).
Good point. This 'rent' is what my wife and I are weighing as we consider states for retirement.
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Old 12-14-2023, 09:00 AM
 
Location: NMB, SC
43,055 posts, read 18,231,767 times
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Quote:
Originally Posted by Brown Darby View Post
Good point. This 'rent' is what my wife and I are weighing as we consider states for retirement.
Georgia and South Carolina are retirement friendly.

I moved to SC from Texas about 5 years ago.
SC is a disclosure state. My county appraises property every 5 years and uses the last sales figures.
There is no industry for "fighting property tax bills" here.

It was the increasing property taxes that gave me the push to leave Texas.
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Old 12-14-2023, 05:12 PM
 
Location: Austin Metroplex, SF Bay Area
3,429 posts, read 1,559,759 times
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Quote:
Originally Posted by WRM20 View Post
City taxes are about 25% of the total. The biggest piece is school taxes. The rest is various county taxes. So, no, the City of Austin isn't the bad guy here.
It really doesn't matter who the bad guy is. The property tax is the property tax. And people need to make a decision whether it makes sense for them in retirement to pay a high monthly expense for it or relocate to somewhere where taxation is favorable to them.
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Old 12-14-2023, 07:08 PM
 
Location: Austin, TX
15,268 posts, read 35,624,789 times
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Quote:
Originally Posted by blameyourself View Post
It really doesn't matter who the bad guy is. The property tax is the property tax. And people need to make a decision whether it makes sense for them in retirement to pay a high monthly expense for it or relocate to somewhere where taxation is favorable to them.
But you need to look at the overall expense picture, not just property taxes. And even with the property taxes, you need to look ahead. It varies for everyone, but the school-tax freeze and increased deductions the instant you hit 65 is actually very beneficial 10 or 15 years down the road. Many, if not most, states do not have has significant tax breaks for retirees. Their taxes start low compared to Texas when you first retire, but many can catch up significantly OR not kick in at all unless you meet certain criteria. I believe CO has a 10 year waiting period for their retiree 'discount' and it is a $ exemption, not a freeze. PA you do not get any notable discounts unless you are impoverished.

For reference, my 80 y/o mom was living in a $400k house in Fredericksburg, TX, but was only paying just short of $2k in property taxes per year.

So, sure, look around for when you retire and pick the best for you, but project into the future, as well, and dig into the details.
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