Just what this retiree wanted to see...

6,840 Views | 50 Replies | Last: 1 yr ago by Bexar Pitts
BUDOS
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With current situation the area is in your proposals sound excellent! Knowing that over time some of these areas will decrease in value and therefore lose their respective revenues, having a sunset provision may be a consideration.
As a moderate conservative And former Wacoan I am glad that reasonable and responsible community leaders like you two still exist in this time of tribalism and inner dissension.
BUDOS80
Robert Wilson
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40% here

Just plain stupid. I want to see their comps. Don't believe I could see the house for nearly where they have it appraised. For one, I purchased it about 16 mos ago for over 40% less. You telling me I got a 40% unrealized return in just over a year? BS.
Weston Rogers
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Robert Wilson said:

40% here

Just plain stupid. I want to see their comps. Don't believe I could see the house for nearly where they have it appraised. For one, I purchased it about 16 mos ago for over 40% less. You telling me I got a 40% unrealized return in just over a year? BS.
We built/moved into our house in China Spring ISD Christmas 2019... Got a little bump from 2020 to 2021, then a 38% bump from 2021 to 2022... However we are selling and all offers came in at least 20% over the 38% bump that McLennan County gave us this year. So I'd say there's a pretty good chance you could get that 40%.
BUDOS
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My question is will the truth change his mind.
If not then perhaps we have such an example as I just indicated???
BUDOS80
Robert Wilson
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Weston Rogers said:

Robert Wilson said:

40% here

Just plain stupid. I want to see their comps. Don't believe I could see the house for nearly where they have it appraised. For one, I purchased it about 16 mos ago for over 40% less. You telling me I got a 40% unrealized return in just over a year? BS.
We built/moved into our house in China Spring ISD Christmas 2019... Got a little bump from 2020 to 2021, then a 38% bump from 2021 to 2022... However we are selling and all offers came in at least 20% over the 38% bump that McLennan County gave us this year. So I'd say there's a pretty good chance you could get that 40%.
Not trying to be nosy or pry, but I doubt that is true across all price points. I understand there is a bit of a housing shortage.
trey3216
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Robert Wilson said:

Weston Rogers said:

Robert Wilson said:

40% here

Just plain stupid. I want to see their comps. Don't believe I could see the house for nearly where they have it appraised. For one, I purchased it about 16 mos ago for over 40% less. You telling me I got a 40% unrealized return in just over a year? BS.
We built/moved into our house in China Spring ISD Christmas 2019... Got a little bump from 2020 to 2021, then a 38% bump from 2021 to 2022... However we are selling and all offers came in at least 20% over the 38% bump that McLennan County gave us this year. So I'd say there's a pretty good chance you could get that 40%.
Not trying to be nosy or pry, but I doubt that is true across all price points. I understand there is a bit of a housing shortage.
Ours has increased in value 150% in 5 years. Granted, part of that was our doing by re-habbing the house, but it is most certainly true across nearly all price points in the Waco area right now.

Jackie Treehorn treats objects like women, man.
Robert Wilson
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trey3216 said:

Robert Wilson said:

Weston Rogers said:

Robert Wilson said:

40% here

Just plain stupid. I want to see their comps. Don't believe I could see the house for nearly where they have it appraised. For one, I purchased it about 16 mos ago for over 40% less. You telling me I got a 40% unrealized return in just over a year? BS.
We built/moved into our house in China Spring ISD Christmas 2019... Got a little bump from 2020 to 2021, then a 38% bump from 2021 to 2022... However we are selling and all offers came in at least 20% over the 38% bump that McLennan County gave us this year. So I'd say there's a pretty good chance you could get that 40%.
Not trying to be nosy or pry, but I doubt that is true across all price points. I understand there is a bit of a housing shortage.
Ours has increased in value 150% in 5 years. Granted, part of that was our doing by re-habbing the house, but it is most certainly true across nearly all price points in the Waco area right now.
40% appreciation from a closing that was 12 1/2 months prior to the appraisal date (1/1/22) on a house near the top of the market in its area - I'm going to have to see some damn good comps to make me believe that is possible. I doubt the comps even exist. I think they went by general areas / school districts and hit everyone by 30%, 40%, etc.
Weston Rogers
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Robert Wilson said:

trey3216 said:

Robert Wilson said:

Weston Rogers said:

Robert Wilson said:

40% here

Just plain stupid. I want to see their comps. Don't believe I could see the house for nearly where they have it appraised. For one, I purchased it about 16 mos ago for over 40% less. You telling me I got a 40% unrealized return in just over a year? BS.
We built/moved into our house in China Spring ISD Christmas 2019... Got a little bump from 2020 to 2021, then a 38% bump from 2021 to 2022... However we are selling and all offers came in at least 20% over the 38% bump that McLennan County gave us this year. So I'd say there's a pretty good chance you could get that 40%.
Not trying to be nosy or pry, but I doubt that is true across all price points. I understand there is a bit of a housing shortage.
Ours has increased in value 150% in 5 years. Granted, part of that was our doing by re-habbing the house, but it is most certainly true across nearly all price points in the Waco area right now.
40% appreciation from a closing that was 12 1/2 months prior to the appraisal date (1/1/22) on a house near the top of the market in its area - I'm going to have to see some damn good comps to make me believe that is possible. I doubt the comps even exist. I think they went by general areas / school districts and hit everyone by 30%, 40%, etc.
To be fair though if you're using your homestead exemption the tax assessed value should still be around a 10% bump vs the 40% bump in the tax office appraised value.
Robert Wilson
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Weston Rogers said:

Robert Wilson said:

trey3216 said:

Robert Wilson said:

Weston Rogers said:

Robert Wilson said:

40% here

Just plain stupid. I want to see their comps. Don't believe I could see the house for nearly where they have it appraised. For one, I purchased it about 16 mos ago for over 40% less. You telling me I got a 40% unrealized return in just over a year? BS.
We built/moved into our house in China Spring ISD Christmas 2019... Got a little bump from 2020 to 2021, then a 38% bump from 2021 to 2022... However we are selling and all offers came in at least 20% over the 38% bump that McLennan County gave us this year. So I'd say there's a pretty good chance you could get that 40%.
Not trying to be nosy or pry, but I doubt that is true across all price points. I understand there is a bit of a housing shortage.
Ours has increased in value 150% in 5 years. Granted, part of that was our doing by re-habbing the house, but it is most certainly true across nearly all price points in the Waco area right now.
40% appreciation from a closing that was 12 1/2 months prior to the appraisal date (1/1/22) on a house near the top of the market in its area - I'm going to have to see some damn good comps to make me believe that is possible. I doubt the comps even exist. I think they went by general areas / school districts and hit everyone by 30%, 40%, etc.
To be fair though if you're using your homestead exemption the tax assessed value should still be around a 10% bump vs the 40% bump in the tax office appraised value.
Yes, means they've locked in their max possible tax increases on a going forward basis and disincentivized people from challenging b/c it won't move the needle now unless they get a huge decrease.
4th and Inches
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Robert Wilson said:

trey3216 said:

Robert Wilson said:

Weston Rogers said:

Robert Wilson said:

40% here

Just plain stupid. I want to see their comps. Don't believe I could see the house for nearly where they have it appraised. For one, I purchased it about 16 mos ago for over 40% less. You telling me I got a 40% unrealized return in just over a year? BS.
We built/moved into our house in China Spring ISD Christmas 2019... Got a little bump from 2020 to 2021, then a 38% bump from 2021 to 2022... However we are selling and all offers came in at least 20% over the 38% bump that McLennan County gave us this year. So I'd say there's a pretty good chance you could get that 40%.
Not trying to be nosy or pry, but I doubt that is true across all price points. I understand there is a bit of a housing shortage.
Ours has increased in value 150% in 5 years. Granted, part of that was our doing by re-habbing the house, but it is most certainly true across nearly all price points in the Waco area right now.
40% appreciation from a closing that was 12 1/2 months prior to the appraisal date (1/1/22) on a house near the top of the market in its area - I'm going to have to see some damn good comps to make me believe that is possible. I doubt the comps even exist. I think they went by general areas / school districts and hit everyone by 30%, 40%, etc.
a 1000 sq ft house in the elm street district just sold for 200k in March of this year
Robert Wilson
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4th and Inches said:

Robert Wilson said:

trey3216 said:

Robert Wilson said:

Weston Rogers said:

Robert Wilson said:

40% here

Just plain stupid. I want to see their comps. Don't believe I could see the house for nearly where they have it appraised. For one, I purchased it about 16 mos ago for over 40% less. You telling me I got a 40% unrealized return in just over a year? BS.
We built/moved into our house in China Spring ISD Christmas 2019... Got a little bump from 2020 to 2021, then a 38% bump from 2021 to 2022... However we are selling and all offers came in at least 20% over the 38% bump that McLennan County gave us this year. So I'd say there's a pretty good chance you could get that 40%.
Not trying to be nosy or pry, but I doubt that is true across all price points. I understand there is a bit of a housing shortage.
Ours has increased in value 150% in 5 years. Granted, part of that was our doing by re-habbing the house, but it is most certainly true across nearly all price points in the Waco area right now.
40% appreciation from a closing that was 12 1/2 months prior to the appraisal date (1/1/22) on a house near the top of the market in its area - I'm going to have to see some damn good comps to make me believe that is possible. I doubt the comps even exist. I think they went by general areas / school districts and hit everyone by 30%, 40%, etc.
a 1000 sq ft house in the elm street district just sold for 200k in March of this year
A few years ago I told some buddies we should buy up every cheap house over there we could. Was too lazy to execute. Dang me.
trey3216
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Robert Wilson said:

4th and Inches said:

Robert Wilson said:

trey3216 said:

Robert Wilson said:

Weston Rogers said:

Robert Wilson said:

40% here

Just plain stupid. I want to see their comps. Don't believe I could see the house for nearly where they have it appraised. For one, I purchased it about 16 mos ago for over 40% less. You telling me I got a 40% unrealized return in just over a year? BS.
We built/moved into our house in China Spring ISD Christmas 2019... Got a little bump from 2020 to 2021, then a 38% bump from 2021 to 2022... However we are selling and all offers came in at least 20% over the 38% bump that McLennan County gave us this year. So I'd say there's a pretty good chance you could get that 40%.
Not trying to be nosy or pry, but I doubt that is true across all price points. I understand there is a bit of a housing shortage.
Ours has increased in value 150% in 5 years. Granted, part of that was our doing by re-habbing the house, but it is most certainly true across nearly all price points in the Waco area right now.
40% appreciation from a closing that was 12 1/2 months prior to the appraisal date (1/1/22) on a house near the top of the market in its area - I'm going to have to see some damn good comps to make me believe that is possible. I doubt the comps even exist. I think they went by general areas / school districts and hit everyone by 30%, 40%, etc.
a 1000 sq ft house in the elm street district just sold for 200k in March of this year
A few years ago I told some buddies we should buy up every cheap house over there we could. Was too lazy to execute. Dang me.
Yeah, I had aims on a few buildings on elm about 10 years ago or so but a few of them got bought before me and my buddy could pull the trigger on them. We'd have been a few years early on what I thought that area would look like, but we'd have come out well ahead.
Jackie Treehorn treats objects like women, man.
Eleven-League Grant
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Bexar Pitts said:

I'm asking Waco's Mayor,my Council Rep, and County Judge to consider doing what some other cities in Texas have done or are doing....that being a tax FREEZE for this segment of our citizenry.Just my opinions.
Congratulations on your efforts. While it may not be a city tax freeze for seniors, I see the Waco City Council did do something:
Quote:

The Waco City Council passed new exemptions Tuesday, just ahead of a Saturday deadline, that are expected to shave hundreds of dollars from many homeowners' tax bills.

The council increased the city's homestead exemption from 10% to 15%, increased its exemption for homeowners 65 or older from $5,000 to $50,000, and added a new $50,000 exemption for homeowners with disabilities. The exemptions reduce the taxable value of an owner's primary residence compared to its appraised value, subtracting the relevant percentage or the $50,000 from the appraised value.
4th and Inches
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Bexar Pitts said:

trey3216 said:

My market value is up 33% from last year. That's an ouch.
Trey, that's about what was predicted as an average. I think if you've had a home or two nearby sell for a really inflated price (which has happened..apparently many times) that your and your neighbors' valuations can expect a hefty increase... Arroyo Road, in NW Waco has evidently experienced this. I've looked at the MCAD site and seen huge appraisal value increases of residences in that location of the City...I'm talking anywhere from 90k to almost 200K per home...Although capped ( if homesteaded) I believe at 10 percent per annum tax increase, it won't take many years for the amount of taxes collected to be staggering..Seniors, disabled on fixed incomes really feel the pinch... I'm asking Waco's Mayor,my Council Rep, and County Judge to consider doing what some other cities in Texas have done or are doing....that being a tax FREEZE for this segment of our citizenry.Just my opinions.
they should aslo take
Into account the house that sold was updated/ remodeled in most cases. My house hasnt had a thing done other than maintenance in 7 years, 2013 was last update on my rental property. No way it doubled in value but they say it did.. we will see how it goes in july at the protest.
“Mix a little foolishness with your serious plans. It is lovely to be silly at the right moment.”

–Horace


“Insomnia sharpens your math skills because you spend all night calculating how much sleep you’ll get if you’re able to ‘fall asleep right now.’ “
Bexar Pitts
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Eleven-League Grant said:

Bexar Pitts said:

I'm asking Waco's Mayor,my Council Rep, and County Judge to consider doing what some other cities in Texas have done or are doing....that being a tax FREEZE for this segment of our citizenry.Just my opinions.
Congratulations on your efforts. While it may not be a city tax freeze for seniors, I see the Waco City Council did do something:
Quote:

The Waco City Council passed new exemptions Tuesday, just ahead of a Saturday deadline, that are expected to shave hundreds of dollars from many homeowners' tax bills.

The council increased the city's homestead exemption from 10% to 15%, increased its exemption for homeowners 65 or older from $5,000 to $50,000, and added a new $50,000 exemption for homeowners with disabilities. The exemptions reduce the taxable value of an owner's primary residence compared to its appraised value, subtracting the relevant percentage or the $50,000 from the appraised value.

I think numerous Waco seniors/disabled were active in asking for some increase in exemptions, and although they werent receptive to a complete freeze, I was pleased with the staff's recommendations on the increased exemptions. Their figures show on an "average" Waco home of @195K, the savings will be about 420 dollars per year in City property taxes for homesteaded seniors..That should help a bit..Plus, it's possible that the City may lower the actual tax rate a bit, which would also lower tax amounts due. I was very pleased that they voted on the exmptions as an emergency measure..beating the July 1 deadline and allowing the savings to be felt in this tax year, 2022. Now trying to work on the County to follow the same path as the City...Not holding my breath for that, however.
Bexar Pitts
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Wish you Good Luck!
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