Also can u explain how a $300,000 house in 5 years looses 300,000 alone? Please explain.

Also granted that u will pay an extra 700 in insurance and according to you 1400 in electricity.. please note that Below is what you wrote:

{”
Houston property taxes, aahh, that’s why its cheap,
Home appraised at $300,000= 7500$ in taxes plus $1300 for insurance and additioanl 2400o for electricity.

Okay additional 3% of house’s value, lets assume inflation is set to zero.

300,000 house in 5 years loses $300,000 on this alone. “}

Lastly, granted houston’s property tax %is high but that is minor considering the amount of home u get. Set aside the value for a moment, note that for new construction or even for a 10-20 yr old 4+ bedroom home plus game room, and maybe a pool, you would pay double if not more in cities such as CHicago, NY, Los Angeles and although would be taxed at a potoentially lesser % you would end up paying the same or more in tax amount.

This blog has brought about some intuitive and worthy of knowing and considering valid points, but lets compare apples to apples and not get hung up on %’s.

How many of the commentators actually live in big cities like Chgo/NY/LA etc.You gotta liver there to know what it costs tolive there.

Over all with the same tax amount u would pay for a much smaller home, a more spacious home with more ammenties, a smaller mortgage pymt, no state tax, a much cheaper sales taax (chicago is 10/5%) and cheaper essentials like car insurance (chicago liablity ins on a used car w a perfect record is 600/yr), no city stickers(90/year), no rediculous toll’s on roads (chgo 80c each way / NYC aprox 4.00 each way), and overall cheaper cost of living, my guess is that houston is a better deal for your buck.
OK there are some trade offs, u trade the snow in for humidity and the huge heating bill (Over 200/avg home/4mths a year min) in for an extra 100 in electrity costs and an extra 30 bucks in home owners insurance a month. Your still enjoying the same or better lifestyle for less considering you just shaved half of the principal you would have owed on your mortgage!!!!
Feel free to Drill holes in my logic!!

Forget no state income tax, what if you don’t live in the state, or unemployment, the person is talking about houston home values, ding dong.

There is more to ahouse than the square footage, there is weather, proximity to jobs and wealth, zoning, schools,etc

This is called the “Free market value” of the house, if people want to buy more for a smaller house there could be other reasons,

Houston property taxes, aahh, that’s why its cheap,
Home appraised at $300,000= 7500$ in taxes plus $1300 for insurance and additioanl 2400o for electricity.

Okay additional 3% of house’s value, lets assume inflation is set to zero.

300,000 house in 5 years loses $300,000 on this alone.

States with no income taxes such as tennesee have areas with low property taxes.

Case Williamson County Tennesee, a $300,000 house in Houston may cost $400,000 there, most income is not taxes , tn gets a small portion for dividens and income.

Tax: 0.6% of market value - $2,300 , insurance $600, electricity $1,000/year.

You lose $4,000 a year instead of $10,000 a year but the home is $4,000.

Seattle same case : $500,000 home = 4000k in taxes, $600 insurance, and $1000 in electricity, granted homes are smaller but that’s the free market , weather, jobs, zoning,other factors.

California is a special case because of prop 13, by the way not everybody has a mortgage on their home,

High property taxes and maintenance help avoid speculative bubbles, because you have to pay your tax if you decide to keep and not sell, you neeed capital to do so, due to h ouston’s market new construction and lack of zoning comb ined with this make a home almost like a car or computer that depreciates in value although it may still functionally be sastistifactory and is not the same thing value wise or material wise.

More on this , but the author is right

Why is it better?

My property taxes are less than the DC income tax I paid. But not a lot less and they will go up, and eventually overtake that figure.

On the other hand, those income taxes were unlikely to go up, and if my income dropped - if I got laid off, if I retired, etc. - the income taxes would drop in kind. So while I’d be facing all kinds of financial challenges, being taxed out of my home would not one.

And note that this is comparing to where I lived - one of the highest income-tax jurisdictions in America. If I were comparing it to other places I lived - Virginia, Massachusetts - the property taxes here would already be as much as my income tax there was.

For lots of ordinary middle-income people, income taxes elsewhere are a much better deal than property taxes here.

California actually freezes your property taxes, but then there’s the income tax…

So, yea, your 2M mansion is cheaper there, assuming you have a magical pile of cash and not any income that gets hit with over 10% state taxes.

Everyone knows our property taxes are high — it’s still better than income taxes. Any property owner should know their taxes will increase. It’s obvious.

Community is nice, but a boost to your retirement from you home value skyrocketing is nice perk. You can always find a community if you want to.

You said: “To me, damn with the community and sell the property and run.”

How sad. How do you build a community if your goal is to “take the money and run”?
I grew up in a place where my grandparents lived down the block, aunts/uncles nearby, neighbors were friends, etc. West U was once like that; now, no more.

Bad property tax system in texas can drive people from their homes and tear the fabic of the community.

Did the title company provide you with truth in lending documentation? If not you need to retain an attorney.

I’m saying the market was overvalued. But not by the tax districts. There are several estates in Bel-Air that a year ago were worth somewhere between $75 and 100 million but were appraised at around $10 million. Appraised at “acquisition value.” The Hilton estate sold for what is still an undetermined amount but for at least for $75 million back in the 1990s. Its acquistion value by Los Angeles County was $12 million. The realtors, of course, used the $75 million as a benchmark to start valuing other homes in Bel-Air. Even the little ranch houses in West Gate. And prices kept going up and up and up. And, well, what goes up goes down. The official devaluation in Los Angeles is around 30%. In the “upscale” areas it is probably closer to 50%. You have three homes on the market in Los Angeles at $125, 150, and 165 million. They are a joke to everyone except the sellers who truly are in “LaLaLand.”

The devaluation in New York is probably 20%. The crooks on Wall Street of course have to spend their bonuses from the bail-out and they are spending it. But even with them spending, there has been devaluation. And 20% is a significant devaluation particularly in Manhattan.

There is nothing wrong with increasing value. But there is something wrong with value increasing by 10% per year. Particularly when realtors start adding another 10% each year. Just because they can. What they’ve done is price themselves out of business in many areas of the country. Including Houston.

Of course they had a little help, didn’t they?

In reality TREC is there to protect licensees, if they have the right attorney of course, from the public.

So you are saying the alternative unreal universe that is preventing housing/land values to rise with the market in California is good thing? Do ever wonder why that state is in financial shambles. People over there vote for a decrease in taxes yet and increase in services. For all the green talk out of California, they quite unsustainable in the financial arena.

I much prefer Texas where reality exist. Home prices don’t stay the same. Your life doesn’t stay the same. It’s called living in reality.