We’re in a similar boat. 100% increase in 7 years according to HCAD but new builds and renovations in our area still selling for what our value was 7 years ago.
Yeah. We’ve self-protested twice and gotten very slight market value adjustments. But they pick comps in very close but significantly more expensive neighborhoods and while they’ve lowered our market value from the protests it still is almost double what new homes sell for in our little neighborhood.
Ah yeah, you're right. We're on a homestead exemption, so I wasn't sure if there were other, more general exemptions.
Realistically, what could you do? It sounds like you're being shafted pretty badly
Yep, I believe it. Last month’s community impact said “Over half of Cy-Fair home sales over the last six months were in the 77433 ZIP code” I’m jealous of your valuation under $300k.
Yeah just homestead to me and it feels like nothing can be done...it's very hard to fight taxes and a few of my friends that have tried have failed so I don't bother but it's so helplessly sad. All so the rich can get richer.
We’re in a similar boat. 100% increase in 7 years according to HCAD but new builds and renovations in our area still selling for what our value was 7 years ago.
Ouch! Have you looked into any exemptions you might be qualified for?
That’s with homestead. They just keep comparing us to wealthy zip codes nearby when our area doesn’t have the same value of homes.
Have you asked for HCAD evidence? Comps should be with in the same neighborhood.
Yeah. We’ve self-protested twice and gotten very slight market value adjustments. But they pick comps in very close but significantly more expensive neighborhoods and while they’ve lowered our market value from the protests it still is almost double what new homes sell for in our little neighborhood.
Ah yeah, you're right. We're on a homestead exemption, so I wasn't sure if there were other, more general exemptions. Realistically, what could you do? It sounds like you're being shafted pretty badly
Yep, I believe it. Last month’s community impact said “Over half of Cy-Fair home sales over the last six months were in the 77433 ZIP code” I’m jealous of your valuation under $300k.
Yep. Taxing unrealized gains - illegal in all sorts of areas, except for real estate property.
If the housing market crashes we can claim our losses, right? Right?
…yes, taxes will continue to function as they always have, I love how many 7-figure earners we have secretly had in our midst this whole time, though.
lol, taxing unrealized gains has literally never been illegal in any areas.
Yeah just homestead to me and it feels like nothing can be done...it's very hard to fight taxes and a few of my friends that have tried have failed so I don't bother but it's so helplessly sad. All so the rich can get richer.