It seems like the highly-touted historic school tax relief of last year will be short lived, at least for some.

Let's see:

-- Personal residence appraisal - up another 10% in 2024

-- Commercial property - La Vega ISD to hold $92MM bond election on May 4 that will increase I&S rate $.245 per $100, pretty much completely wiping out the 'historic' relief of just last year.

About the major commercial property owners in La Vega (and most other districts as well)-- most don't live in the district and so will have no vote.

Such a deal ... (and probably coming soon to other districts in Texas)

This was the first year in the last 13 where my appraised value did not increase from the prior year. I was already prepping to fight, but somehow…nada

Mine went up at least 10% as well. Guess I'll have to fight.

SteamedHams said:

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This was the first year in the last 13 where my appraised value did not increase from the prior year. I was already prepping to fight, but somehow…nada

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Same. It almost feels dirty to be like "nah, that's fair" with the appraisal district.

Schools require top notch athletic facilities and inclusive restrooms.

Eleven-League Grant said:

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- La Vega ISD to hold $92MM bond election on May 4 that will increase I&S rate $.245 per $100, pretty much completely wiping out the 'historic' relief of just last year.

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Well, it seems the 'people' have spoken. Or rather, 425 persons (total) have.

$93MM for a district with between 3-4,000 students.

Did I vote, you ask? Couldn't.

Merely owning commercial property in a district only gives one the right to pay school taxes, not to vote on them.

Rant over. I'll take it like a man, shut my mouth, pay the new taxes and move on. It's the new American way, I hear.

Eleven-League Grant said:

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It seems like the highly-touted historic school tax relief of last year will be short lived, at least for some.

Let's see:

-- Personal residence appraisal - up another 10% in 2024

-- Commercial property - La Vega ISD to hold $92MM bond election on May 4 that will increase I&S rate $.245 per $100, pretty much completely wiping out the 'historic' relief of just last year.

About the major commercial property owners in La Vega (and most other districts as well)-- most don't live in the district and so will have no vote.

Such a deal ... (and probably coming soon to other districts in Texas)

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Don't forget the proposition tax breaks we got on homesteads go away in 25...unless renewed by Texas Legislature..With any substantial increase in values, if they don't keep those tax breaks it will be an eye opener for homeowners..

Eleven-League Grant said:

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Eleven-League Grant said:

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- La Vega ISD to hold $92MM bond election on May 4 that will increase I&S rate $.245 per $100, pretty much completely wiping out the 'historic' relief of just last year.

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Well, it seems the 'people' have spoken. Or rather, 425 persons (total) have.

$93MM for a district with between 3-4,000 students.

Did I vote, you ask? Couldn't.

Merely owning commercial property in a district only gives one the right to pay school taxes, not to vote on them.

Rant over. I'll take it like a man, shut my mouth, pay the new taxes and move on. It's the new American way, I hear.

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i feel ya, have many properties in mclennan county and pay for several school districts i cant vote in.. it is what it is

Such as the life of a "mean old greedy landlord"

Even more distressing than my property taxes has been the rise in my homeowners insurance this year. I live in quasi-McGregor, you'd think I was in a 5/4 perched atop an active volcano for how high my rates have gone up for this next cycle.

SteamedHams said:

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Even more distressing than my property taxes has been the rise in my homeowners insurance this year. I live in quasi-McGregor, you'd think I was in a 5/4 perched atop an active volcano for how high my rates have gone up for this next cycle.

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Yep, seen some ridiculous high premium policies here recently. With 2-2.5% on the roof and 1-1.5% deductible on everything else. Heard there's at least one insurance company out there that's refusing to ensure the roof if it's older than 10 years.

4th and Inches said:

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Eleven-League Grant said:

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Eleven-League Grant said:

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- La Vega ISD to hold $92MM bond election on May 4 that will increase I&S rate $.245 per $100, pretty much completely wiping out the 'historic' relief of just last year.

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Well, it seems the 'people' have spoken. Or rather, 425 persons (total) have.

$93MM for a district with between 3-4,000 students.

Did I vote, you ask? Couldn't.

Merely owning commercial property in a district only gives one the right to pay school taxes, not to vote on them.

Rant over. I'll take it like a man, shut my mouth, pay the new taxes and move on. It's the new American way, I hear.

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i feel ya, have many properties in mclennan county and pay for several school districts i cant vote in.. it is what it is

Such as the life of a "mean old greedy landlord"

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No offense, but you are going to pass the increase to the tenant so that you can continue to get your cut.
There isn't anything wrong with it, but the melodramatic "mean old greedy landlord" is old.

Until the state (republicans, of which I am)changes its funding of public education, local districts will continue to lean on local taxes. One thing of note though, of the .245 increase that you will see how much will be compressed on the m&o side? When budgets are set, and new valuations come out, you likely won't see that large of an increase.

4th and Inches said:

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sipembeers said:

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4th and Inches said:

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Eleven-League Grant said:

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Eleven-League Grant said:

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- La Vega ISD to hold $92MM bond election on May 4 that will increase I&S rate $.245 per $100, pretty much completely wiping out the 'historic' relief of just last year.

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Well, it seems the 'people' have spoken. Or rather, 425 persons (total) have.

$93MM for a district with between 3-4,000 students.

Did I vote, you ask? Couldn't.

Merely owning commercial property in a district only gives one the right to pay school taxes, not to vote on them.

Rant over. I'll take it like a man, shut my mouth, pay the new taxes and move on. It's the new American way, I hear.

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i feel ya, have many properties in mclennan county and pay for several school districts i cant vote in.. it is what it is

Such as the life of a "mean old greedy landlord"

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No offense, but you are going to pass the increase to the tenant so that you can continue to get your cut.
There isn't anything wrong with it, but the melodramatic "mean old greedy landlord" is old.

Until the state (republicans, of which I am)changes its funding of public education, local districts will continue to lean on local taxes. One thing of note though, of the .245 increase that you will see will be compressed on the m&o side? When budgets are set, and new valuations come out, you likely won't see that large of an increase.

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we havent raised rent since before covid

I understand the state of the economy for the working man and woman who make up our renters.

I have absorbed the cost of increased taxes, increased insurance rates, increased PM costs for the last 4 years.

Unfortunately, I will probably have to go up slightly this summer to maintain budget neutral but all of are properties will still be way under market value rent.

I have a renter who hasnt paid in 6 months, she needs to help and I can give it. Keep the house clean and the property maintained, i can forgive alot. Treat my property like trash and you get eviction filed after being 3 days late.

Life is about community and loving your neighbors

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You are better than a lot of other property owners I know, good on you.

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I have absorbed the cost of increased taxes, increased insurance rates, increased PM costs for the last 4 years.

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Yep. I've done exactly the same thing for my commercial tenants.

As I'm sure you've experienced, empty buildings don't make you a dime, but they do still cost you.

I drive by some properties in town that I know have been vacant for months and months and shake my head at the bath the owners must be taking on the holding costs.

Eleven-League Grant said:

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Eleven-League Grant said:

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- La Vega ISD to hold $92MM bond election on May 4 that will increase I&S rate $.245 per $100, pretty much completely wiping out the 'historic' relief of just last year.

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Well, it seems the 'people' have spoken. Or rather, 425 persons (total) have.

$93MM for a district with between 3-4,000 students.

Did I vote, you ask? Couldn't.

Merely owning commercial property in a district only gives one the right to pay school taxes, not to vote on them.

Rant over. I'll take it like a man, shut my mouth, pay the new taxes and move on. It's the new American way, I hear.

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Although you didn't have the opportunity to vote, you do have the opportunity to pass on the added expense to your clients.

Residents in the area get to vote but have to fully absorb the impact of the increase with no one on which to pass the expense. If they rent, there rent is most likely about to go up. If they own, their tax expense is about to go up AND their appraisal likely has gone up and will continue to go up.

While I won't re-fight a battle ($93MM school bond voted 'Yes' on by 275 people total) that's already been lost, allow me respectfully to comment on your statement.

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Although you didn't have the opportunity to vote, you do have the opportunity to pass on the added expense to your clients.

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Yes, and my tenants then have the opportunity to walk. They don't have to pay, as there are other options in the area for them, including options outside the La Vega ISD.

At least in my sector of the commercial leasing area, the Waco market is very price conscious. I suppose if you have a stout tenant locked into a multi-year lease with all property taxes passed through in full, you could get away with passing on the expense. And, some landlords are in that position. I just don't happen to be one of them, and I suspect some here who rent residential properties aren't either.

Particularly in the current inflationary environment, even giants such as McDonalds are encountering what they are terming 'price resistance' in their customer base.

Pass on all costs in Waco, Texas? - caveat landlord

Eleven-League Grant said:

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While I won't re-fight a battle ($93MM school bond voted 'Yes' on by 275 people total) that's already been lost, allow me respectfully to comment on your statement.

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Although you didn't have the opportunity to vote, you do have the opportunity to pass on the added expense to your clients.

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Yes, and my tenants then have the opportunity to walk. They don't have to pay, as there are other options in the area for them, including options outside the La Vega ISD.

At least in my sector of the commercial leasing area, the Waco market is very price conscious. I suppose if you have a stout tenant locked into a multi-year lease with all property taxes passed through in full, you could get away with passing on the expense. And, some landlords are in that position. I just don't happen to be one of them, and I suspect some here who rent residential properties aren't either.

Particularly in the current inflationary environment, even giants such as McDonalds are encountering what they are terming 'price resistance' in their customer base.

Pass on all costs in Waco, Texas? - caveat landlord

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I understand. Chasing the equilibrium is a never-ending chore made more difficult with tax rates and property valuations changing, bond issues being added and the spawn of satan (aka insurance companies) getting yet another pound of flesh.

My sympathies lie more with the lower-middle income home-owners that make too much for any kind of assistance and too little to have many options.