I believe approx 70% of ours goes to schools. However as soon as I am 65 we don't have to pay tax for school district.Our taxes in Texas have been going up also. In our area over 50% of the property taxes go to the school system and nobody throws money away faster than the public school system.
Have 11 acres that I cleared and turned into pasture.
Value went from $29,000 to $114,000
We have +/- 250 acres = $13,000 taxes.
Our tax went up over 100% on some tracts that are just deep woods.
Real estate market still hot in this area of the mountains.
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I just got it rezoned agricultural in May. Hoping taxes go down.I'd be considering lodging a dispute on that tax rise with the eleven acres. It's agricultural land, isn't it? Not something being developed for a subdivision or some other kind of improved use?
The taxes and insurance on real estate is crazy. I expect that a lot of fixed income people that have worked all their lives and set themselves up for an easy retirement are now pulling their hair out. Even with a paid for home the taxes and insurance are getting to the point that they are as high as payment when the real estate was being financed.
And of course social security isn't ever going to fill those gaps.
On the subject of insurance, our homeowners/property insurance has gone up over $500 on our recent bill, and my health insurance jumped up significantly more too recently.I'd be considering lodging a dispute on that tax rise with the eleven acres. It's agricultural land, isn't it? Not something being developed for a subdivision or some other kind of improved use?
The taxes and insurance on real estate is crazy. I expect that a lot of fixed income people that have worked all their lives and set themselves up for an easy retirement are now pulling their hair out. Even with a paid for home the taxes and insurance are getting to the point that they are as high as payment when the real estate was being financed.
And of course social security isn't ever going to fill those gaps.
That's what happens when the money supply is increased to "give" us those stimulus checks.On the subject of insurance, our homeowners/property insurance has gone up over $500 on our recent bill, and my health insurance jumped up significantly more too recently.
Well worth it in our experience. Disputed taxes on oil royalties a few years ago and our taxes were significantly reduced. Yeah, they just estimate in advance what it will be, as opposed to how many barrels were actually produced. It's cyclical. And we disputed the back 40 that is used strictly for hunting because there is no direct access by road. Last year the state decided to slap a hefty personal property tax on all UTV's - unless you appeal and have it approved that any UTV you own is strictly for farm/ranch. Which we did, and actually got a refund for the tax we already paid. Plus, they added a permanent exemption in our files, so we don't have to deal with that every year.I'd be considering lodging a dispute
Have 11 acres that I cleared and turned into pasture.
Value went from $29,000 to $114,000
We have +/- 250 acres = $13,000 taxes.
Our tax went up over 100% on some tracts that are just deep woods.
Real estate market still hot in this area of the mountains.
View attachment 38048
In Texas they can't go up more than 10% in a calendar year. I believe I would challenge thatHave 11 acres that I cleared and turned into pasture.
Value went from $29,000 to $114,000
We have +/- 250 acres = $13,000 taxes.
Our tax went up over 100% on some tracts that are just deep woods.
Real estate market still hot in this area of the mountains.
View attachment 38048
Yep we voted in property tax reduction they just raised the evaluation to get it back.Our taxes in Texas have been going up also. In our area over 50% of the property taxes go to the school system and nobody throws money away faster than the public school system.