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Just got all my RE tax bills 
14 posts by 9 users
REHoldingsJaxReal Estate Investor Jacksonville, Florida |
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and they are sticking it to me this year. According to them, one of my properties increased over 25% in value...I'm fighting this but good grief...I've only owned it for 5 years!!! FL property taxes stink....but then again I don't have state income tax. I guess it is a trade off. How are the RE taxes in your area??? |
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Richard W.Real Estate Investor Las Vegas, Nevada |
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Here in Nevada we don’t have an income tax either. RE taxes had been poised to escalate significantly with a run-up in housing prices. However the state legislature was fearful of a California style “proposition 13” tax cap that was in the works and they stepped in. RE taxes can increase no more than 3% in any year for a primary residence or 6% for an investment property. |
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MikeOHReal Estate Investor Ohio |
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RE taxes can increase no more than 3% in any year for a primary residence or 6% for an investment property. Isn't that discriminatory of the scumbags in the state government? Oh well, I guess businesses must share the wealth in our brave new world. Mike |
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Richard W.Real Estate Investor Las Vegas, Nevada |
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Come on Mike, You know that us greedy landlords are constantly robbing the welfare money from our deadbeat tenants. They HAVE to charge us more in order to give them the welfare checks and Section 8 money to pay the exorbitant rents we charge. You’ll learn all about it in the Obama-nomics re-education camps. |
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Joshua D.BiggerPockets Founder Denver, Colorado |
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Lets try and keep on subject, folks. |
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Tim W.Real Estate Investor Indiana, Indiana |
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My taxes just went down to 2%. 2% on a property that cost $10,000 and rents out for $600 a month. Don't know what I'm thinking investing in this nonsense cashflowing property in a "crappy little town". |
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MachBoonies, Pennsylvania |
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Here in good ol PA our saying is "WE TAX YOU" I have not noticed that big of an increase in my taxes. I know they tried or did pass a landlord tax. School taxes are mixed in with the RE tax. It just seems like PA penalizing home owners. I keep hearing TX is a good state for REI. I can't get over the fact the Taxes are to high. Once you do get the loan paid back you still owe the state property tax. $100 extra a month means a lot in this game of rentals. Just my 2 cents. |
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MikeOHReal Estate Investor Ohio |
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...and you can count on property taxes going UP when the economy gets bad. It is politically difficult to raise income taxes, so they raise everything else: property tax; institute landlord "registration" (along with a fee); raise sales taxes; business taxes; personal property taxes -- anything to divide and conquer the taxpayer. Mike |
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REHoldingsJaxReal Estate Investor Jacksonville, Florida |
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I finally figured out what happened....Our wonderful Gov Charlie Crist has a great idea to cut our property taxes and try to get the local governments to cut the fat and run efficiently. While in theory this sounds great, the local gov't found the loophole- Nonowner occupied dwellings (ie rentals and commercial)...I'm still fighting it; but I might just have to suck it up and pay it. |
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Lynn Z. |
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Just north of Jacksonville, in S.C. we just got our property tax bills. All up an average of $250-$300 just based on mils increase. My little 2/1 with 820 sq. ft. runs $1690 a year now. It's worse on 3/2's and multifamily buildings in town. My hairdresser's bungalow was taxed at $5500 and it's in a distressed area of town. That break they gave homeowners on school taxes is going to be clawed from the 6% er's now and forever more. |
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nationwidepiReal Estate Investor Santa Clarita, California |
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While it is true that Texas boasts higher property tax rates, you make up for it with the most undervalued RE in the Nation. |
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REHoldingsJaxReal Estate Investor Jacksonville, Florida |
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I'm changing MikeOH's 50% rule for expenses to 60% just to keep up with RE taxes. |
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Lynn Z. |
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According to our newspaper the National Husing Conference states the following expenses for homeowners from 1996-2006
P&I 46% (`1995-2006) Property taxes 66% (worse for investors) Insurance 83% (1995-2005) Rents increased 51% for the 10 year period |
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Rich W.Real Estate Investor sioux falls, South Dakota |
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I protested most of my tax bills here in Texas. I actually got one reduced from assessed value of $124K to 100K. nevertheless, when you have over 40 properties to pay taxes on, it is a pain. I'll still take this area over any others(except MS to avoid paying any income tax) due to low median price rent and relatively high rents. I continue to buy and build here in TX. |
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Posted: 11/14/2008 at 12:05PM
