Truth is you can find good deals in any market. Said differently, there's no market/area that's best for rentals, flips, etc.. If you read through all the BP articles you'll find some people prefer Austin, some Dallas, while others hate Austin and Dallas.
The real question is what are your goals and what city/area can you own to best get you to where you want to be?
I bailed on CA and am 100% Texas outside of Austin area. I LOVE IT!
Great returns and no state income tax!
Your dollar will go further in the rural areas outside the major municipalities (suburbs).. Many are moving farther out of town for just that reason and taking the short drive into "town" for the multitude of entertainment venues available.
Also, long term wise, Texas had more conservative lending practices and overall a more stable economy. Not nearly as volitile as states such as CA, for example.
Anyway, good luck!!!
Rob,
I agree with many of your comments. But property taxes have doubled in many Texas cities, particularly in Dallas since 2014. Some school ISDs bill you property taxes directly. You can't challenge them and they have more than doubled since 2014. I have no doubt that this will continue in other Texas cities...but I'm still bullish on Texas and holding my properties in Austin, Dallas, and San Antonio for the long-term.
I also would have to disagree about your "volatility" comment. The DFW market is actually very volatile. In this market, they typically overbuild then have big drops in pricing. This market cycle may be different than in the past, but that's how this market works. Austin is more steady and San Antonio, underpinned by aerospace and medical industries is the most stable in TX.
School tax rates are capped at $1.17 per $100 in Texas with a few exceptions.
The increase in the amount of school tax is due to the increase in property valuations which can most definitely be challenged on a yearly basis. Property tax valuations come out every spring and protests need to be filed with 30 days or May31st whichever is later
I bailed on CA and am 100% Texas outside of Austin area. I LOVE IT!
Great returns and no state income tax!
Your dollar will go further in the rural areas outside the major municipalities (suburbs).. Many are moving farther out of town for just that reason and taking the short drive into "town" for the multitude of entertainment venues available.
Also, long term wise, Texas had more conservative lending practices and overall a more stable economy. Not nearly as volitile as states such as CA, for example.
Anyway, good luck!!!
Rob,
I agree with many of your comments. But property taxes have doubled in many Texas cities, particularly in Dallas since 2014. Some school ISDs bill you property taxes directly. You can't challenge them and they have more than doubled since 2014. I have no doubt that this will continue in other Texas cities...but I'm still bullish on Texas and holding my properties in Austin, Dallas, and San Antonio for the long-term.
I also would have to disagree about your "volatility" comment. The DFW market is actually very volatile. In this market, they typically overbuild then have big drops in pricing. This market cycle may be different than in the past, but that's how this market works. Austin is more steady and San Antonio, underpinned by aerospace and medical industries is the most stable in TX.
School tax rates are capped at $1.17 per $100 in Texas with a few exceptions.
The increase in the amount of school tax is due to the increase in property valuations which can most definitely be challenged on a yearly basis. Property tax valuations come out every spring and protests need to be filed with 30 days or May31st whichever is later
Greg,
Garland ISD manages their own tax collection (comes directly from them, not the county tax office) and it has nearly doubled since 2014. I don't believe it can be challenged. Maybe this is an exception?
@Jon Q., I dont want to update this list with job numbers but each employer provides jobs in thousands...
Clearly. What I meant is that the most meaningful info is industry breakdown by number of jobs (ex ranking employers). Telecom and banking are likely still the largest by industry in Dallas.
While some school districts and other taxing authorities do their own collections, each county has an Appraisal Distinct which sets the property valuations. People tend to use the term "protesting their taxes " but they are protesting their valuation which can change yearly
While some school districts and other taxing authorities do their own collections, each county has an Appraisal Distinct which sets the property valuations. People tend to use the term "protesting their taxes " but they are protesting their valuation which can change yearly
Yes, that's obvious. Thanks Greg.
It's not valuations that are the problem. Challenging them is business as usual. It's that tax rates have increased in many counties. Also, in many counties there are often special assessments.
Actually it is about the valuation. The tax rate in Texas metro areas has decreased or remained constant over the last few years as valuations have skyrocketed creating large increases in most investors' tax bills.
Special assessments by a taxing authority is extremely rare and would typically only be seen a scenario of rapidly growing water districts and such needing to expand services.
Actually it is about the valuation. The tax rate in Texas metro areas has decreased or remained constant over the last few years as valuations have skyrocketed creating large increases in most investors' tax bills.
Special assessments by a taxing authority is extremely rare and would typically only be seen a scenario of rapidly growing water districts and such needing to expand services.