Updated almost 9 years ago on . Most recent reply
Crying Uncle! Please make it stop!
Well damn. It's that time of the year again when the property tax appraisal letters arrive. Talk about sticker shock. I am really getting reamed by not having a homestead exemption (read 10% increase annual limit) on my rentals.
One rental in Richardson is up $37,950 or 26%! In one year! Another up $49,760 or 27%!
Further north in Frisco and McKinney it doesn't seem so bad, up only 5% to 10%.
I am having a hard time passing these tax increases on to my tenants. It appears that rents are no longer rising fast enough to absorb the costs. Is this a tell tale sign that the party might soon be over? If you recall, rents increases led price increases back in 2012. Might they do the same on the way back down?
In any case - please make it stop!