Post how your 2009 HCAD appraised value changed (Houston, Spring: real estate, foreclosure)

[westres1]

Originally Posted by LostInHouston

Bought my house in June '08 and my 2009 appraised value is $18k more than what we paid for it (when you take into account the 5k we got in closing costs).

Did you file your homestead exemption in January? Did you receive a little post card from the appraisal district asking you how much you paid or what upgrades you made? If so I hope you threw it away.

There is a limit on how much they can increase property taxes per year.....Does anyone know what that limit is? 18% and 24% increases are crazy.

[EasilyAmused]

There's a 10% limit increase.
BUT, if you pull a permit (you know, follow the law) then they can NAIL you. I got hit over 30% last year over a permit to replace the recalled/hazardous electrical panel. The panel and bringing the house up to code( you know, doing what you are supposed to do) cost me 5,000. But what it really cost me was an almost 200,000 dollar appraised value hike.

I really think long and hard now if I want to do anything that requires a permit.

[Felixmp]

I live near West Rd. and 290. My appraisal went down 9.6%, but I thought it was appraised too high last year - I just never fought it.

[astrohip]

Originally Posted by astrohip

Southampton. My appraisal went up 24%.

Originally Posted by EasilyAmused

There's a 10% limit increase.

There is no limit to what the appraisal can do. By law, they are supposed to appraise to market, so if it goes up 50%, it goes up 50%.

However, the amount you can be taxed on is limited to a 10% increase per year (resid only). In my case, they will add 10% this year, and 10% more next year. Unless my appeal meets with some success.

(PS: Houston--home of the unpermitted improvement!)

[HedwigTramp]

Originally Posted by EasilyAmused

There's a 10% limit increase.
BUT, if you pull a permit (you know, follow the law) then they can NAIL you. I got hit over 30% last year over a permit to replace the recalled/hazardous electrical panel. The panel and bringing the house up to code( you know, doing what you are supposed to do) cost me 5,000. But what it really cost me was an almost 200,000 dollar appraised value hike.

I really think long and hard now if I want to do anything that requires a permit.

The Appraised value can only rise by 10% in one year. The discussions on this thread are based on HCAD's "Market value", which should be an indication weather property values are going up or down.

BTW: My "Appraised value"(ie taxable value) has gone up 10% every year since I moved to Hedwig in 2001. And there is still a $100K difference between my "Market" value and "Appraised" value. I have tried to protest, but O'Conner has yet to reduce my tax bill.
10% may not sound like alot, but 10% compounded year after year really adds up.

I have another property on the near East Side that is in a hot area right now. Taxable value on that one is "Pending".

[EasilyAmused]

Hedwig, I've owned property in HCAD since 1994. They've hit me every year for a 10% hike,nailed me when I improved, with the exception of 1997 and 1998. I guess I must have flown under the radar those years.

[brownybaby]

77018 - Ours went down 8%! Works for me - we got our last appraisal in December (due to work we want to do) and home has been appraise for 25,000 more than when we bought in 2007.

Our land went up 6.5% and our "actual structure" went down 17.19%. Our home was built in 2007. I am not complaining.

[travelguy_73]

Ours went down a whopping 13% this year. Totally shocked us because we think HCAD is, and always has been, well below our market. We will take the tax bill and run this year for sure, and thank the lack of quality home sales in 2008!

We are having the house appraised for a refi, so I am really curious as to the theoretical "true" market value.

[jflores]

dont pull permits if you dont have too..shhhh......whats the worst that can happen?

[Yonkers]

I live near Jersey Village but in a blah little neighborhood. Due to that, my appraised value hasn't changed in like 6 years. That also means that after living here 10 years, if I sell right now I will have made about zilch in profit.