cutmytax

In most states of the United States, house owners receive an appraisal notice from tax assessors and appraisal districts. This notice includes the new value of their home based on the calculations of these authorities. However, it’s shocking to see that some houses get an increase over 50% in just a year. What’s even more shocking is that they get these increases even though they haven’t added anything new – yet alone major constructions. They also haven’t received any visits from any tax assessors. So, how is this possible? CALCULATING HOME VALUE Normally, these home values are estimates most especially when no tax assessor has come up to your property to collect data. They often use collected data from before and then use various methods to  calculate  your current home value. VISITATIONS Several factors go into assessing a home such as the following: Square footage Lot size Location of property Age of house Style of home In a proper appraisal, a t...

If you want to relocate or if you’re looking for a cheap state to live in, living down South in Texas would be a good idea. Overall, it’s cheaper than bigger states such as California. But if indeed you’re planning of relocating there, you should know that they have higher property taxes. INCREASE IN PROPERTY TAX Citizens of Texas complain about the rise of property taxes every year. According to State Senator Paul Bettencourt, there’s a total collected growth of  41% in San Antonio  from the year 2013 to 2017. Each year, the average increase goes up to 10%. Although there have been several decreases over the years, it’s usually not enough. Common property owners are still hanging by a thread every time there’s a change in tax. This increase affects the cost of houses in the state – whether you’re renting or buying. The prices have increased rapidly which can be incredibly hard for the people on the minimum wage. PROPERTY TAX CAP With the issue of increasing pr...