Monday, June 09, 2008

The booming Houston housing market!

Our home is an investment, obviously, but it's also our home and so as long as we're not bleeding money we're happy. We're not trying to flip it or something. But, apparently, the county tax office thinks we can. They say that our house increased in value $21,000 in one year!! Hot diggity dog!

Haha.

Ha.

Average increases in market/appraised price for our neighborhood over the last 5 years averaged about 1-2%, but then this year it jumped to 5-10%. On average. So... I am protesting.

Last year I did it and was successful, mainly because they had all kinds of wacky incorrect info like extra bedrooms and bathrooms. This year? I am gathering info. The house next door to ours and one down the street sold in the last year and they took a long time to sell and sold for either a small amount more than the asking price or less. I'm honestly not worried about that--we're planning to stay here for a while. It's an area that will always be desirable due to its proximity to downtown.

But now? Dear county tax people? I know that you're getting a lot less revenue because of foreclosures and whatnot, but I'd rather not be paying taxes based on a "market value" that is ridiculously, outrageously higher than I could even think to receive if I sold my house.

Wish me luck!

7 comments:

Lainey-Paney said...

girl, you go fight the fight!

shoeaddict said...

You are such a champ!

Mary said...

Best of luck!!! Bet you'll do fine.

zydeco fish said...

I had a similar situation. In a house I used to own, they claimed it has a finished basement...not even close.

I think we need a new method of calculating property tax. If you make your house look good, the curbside appeal increase and you pay more tax. Sometimes, it makes me want to make my house look really ugly. Perhaps the burnt out shell of a car thrown on my front yard would help?

AlaneM said...

Ugh!
Home ownership is great - with a few exceptions :)

Alli said...

I didn't realize you were in the houston area. My dad's gone through the same thing the past few years with Harris county. A house on their block has a POOL and my parents' house was still appraised at the most (even though there are several other larger houses). GOOD LUCK!

Kate said...

You guys are awesome! Thanks for the well-wishes! It went really well...

ZF-I hear you. Last year we had a good time searching for our phantom bedroom and half bath. And actually, curb appeal kind of goes into it here. Your property gets a grade based on how it appears to be kept up (aka curb appeal).

Alli--that sounds about right. They compared us to a house almost a mile away rather than 2 in our subdivision. And my "subdivision" is the same size as my bff's LOT. Although, after I went I did find out how they do the bizarro math. It's still a crock, though. ;)