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Re: Property Taxes 2020
[Re: Dry Fire]
#7805681
04/14/20 01:09 PM
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Joined: Sep 2004
Posts: 12,471
RedRanger
THF Celebrity
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Joined: Sep 2004
Posts: 12,471 |
Ah, the old "Texas Wealth Tax" annual gripe thread. Haven't got my notice yet, but I expect it to go up around $25. Currently $652 a year, so $675 would not be unexpected. In two years mine will freeze as well. I have had bar tabs that size
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Re: Property Taxes 2020
[Re: beaversnipe]
#7805689
04/14/20 01:24 PM
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Joined: Jul 2019
Posts: 14,351
Hudbone
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Posts: 14,351 |
Few people desire to pay their fair share. Everyone wants the benefits.
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Re: Property Taxes 2020
[Re: Hudbone]
#7805701
04/14/20 01:38 PM
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Joined: Sep 2004
Posts: 12,471
RedRanger
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Posts: 12,471 |
Few people desire to pay their fair share. Everyone wants the benefits. What benefits from average household paying 6k in school taxes each year. I see high Schools that will pass for college campuses, Million dollar Admin building, faculty driving Chevy Tahoes, 18 wheeler at each high school for band equipment, football coaches making over 100k per year and not having to teach?
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Re: Property Taxes 2020
[Re: beaversnipe]
#7805704
04/14/20 01:43 PM
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Joined: Jul 2019
Posts: 14,351
Hudbone
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"What benefits from average household paying 6k in school taxes each year." Not sure you would able to understand the answer. Sentences akin to this one typically end with a question mark.
If you do not like what they build, then consider starting a movement to elect school officials with the same attitude and outlook as yourself. Otherwise, sit back, pay your fair share and learn to gritch where it can make a difference.
Last edited by Hudbone; 04/14/20 01:43 PM.
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Re: Property Taxes 2020
[Re: beaversnipe]
#7805730
04/14/20 02:09 PM
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Joined: Aug 2016
Posts: 8,334
Herbie Hancock
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Have they mailed out 2020 property tax info yet? No, not yet. But it will be higher since they are allowed to change the tax rate and the fact that the assessed value is bases on jan 1st when the economy was still stellar. I got mine about two weeks ago, they went up the full 10% on me, then after my realtor friend let me know my neighborhood has increased in value.
It takes beer to make thirst worthwhile - J. Fred Schmidt
The internet is an I.Q. Test, people post their scores in the comment section.
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Re: Property Taxes 2020
[Re: RedRanger]
#7805731
04/14/20 02:13 PM
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Joined: Oct 2006
Posts: 18,573
ducknbass
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Joined: Oct 2006
Posts: 18,573 |
Few people desire to pay their fair share. Everyone wants the benefits. What benefits from average household paying 6k in school taxes each year. I see high Schools that will pass for college campuses, Million dollar Admin building, faculty driving Chevy Tahoes, 18 wheeler at each high school for band equipment, football coaches making over 100k per year and not having to teach? Like I said last year. You love to brag about your ZIP code. That comes with cost.
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Re: Property Taxes 2020
[Re: bill oxner]
#7805740
04/14/20 02:24 PM
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Joined: Sep 2012
Posts: 12,923
PMK
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Joined: Sep 2012
Posts: 12,923 |
I got something about protesting the mail. Threw it in the trash. Locked when I turned 65. there are still reasons to protest ... at some point in time you will sell your house or your daughter will have to deal with it ... at that point in time with the 10% increase annually in the appraisal value going up, there will be h3ll to pay in capital gains. Keep the appraised value as low as possible even if your rates are locked down.
"everyone that lives dies but not everyone who dies lived..."
~PMK~
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Re: Property Taxes 2020
[Re: RedRanger]
#7805752
04/14/20 02:35 PM
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Joined: Jan 2010
Posts: 23,830
beaversnipe
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OP
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You don't have to pay them until 1/31/2021. I do have to pay. Mine were frozen. I pay mine with my income tax refund. The problem is the occur every year and usually increase each year. I was around 6K per year when I got my house 10 years ago, Now of days I am 10K per year. I'd rather have your relative youth than my frozen taxes. Why are you not loading up your dogs and hunting year round like in Central and South America? Thats what I was wondering instead of eating tenderloins and sippin on dirty skinny martinis all day for years. To each their own i guess. Take a trip Bill. They have THF wifi there too.
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Re: Property Taxes 2020
[Re: RedRanger]
#7805753
04/14/20 02:35 PM
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Joined: Dec 2009
Posts: 9,897
The Dude Abides
THF Trophy Hunter
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Joined: Dec 2009
Posts: 9,897 |
Few people desire to pay their fair share. Everyone wants the benefits. What benefits from average household paying 6k in school taxes each year. I see high Schools that will pass for college campuses, Million dollar Admin building, faculty driving Chevy Tahoes, 18 wheeler at each high school for band equipment, football coaches making over 100k per year and not having to teach? Wait, what? Teachers are not allowed to drive a Tahoe? What do you think a teachers / coaches deserves to make? How should schools transport their equipment or gear? You live in Frisco dude, what did you expect, a free ride? Quit your whining.
I am still looking for the perfect apron, one with reinforced knee areas would be perfect.
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Re: Property Taxes 2020
[Re: The Dude Abides]
#7805756
04/14/20 02:38 PM
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Joined: Aug 2016
Posts: 8,334
Herbie Hancock
THF Trophy Hunter
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Joined: Aug 2016
Posts: 8,334 |
Few people desire to pay their fair share. Everyone wants the benefits. What benefits from average household paying 6k in school taxes each year. I see high Schools that will pass for college campuses, Million dollar Admin building, faculty driving Chevy Tahoes, 18 wheeler at each high school for band equipment, football coaches making over 100k per year and not having to teach? Wait, what? Teachers are not allowed to drive a Tahoe? What do you think a teachers / coaches deserves to make? How should schools transport their equipment or gear? You live in Frisco dude, what did you expect, a free ride? Quit your whining. The faculty isn't allowed to be married to a person who makes 2 or 3 times the amount they do and that spouse help afford that vehicle?
It takes beer to make thirst worthwhile - J. Fred Schmidt
The internet is an I.Q. Test, people post their scores in the comment section.
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Re: Property Taxes 2020
[Re: The Dude Abides]
#7805769
04/14/20 02:53 PM
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Joined: May 2007
Posts: 5,498
TX_LT230FH
THF Trophy Hunter
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Joined: May 2007
Posts: 5,498 |
Few people desire to pay their fair share. Everyone wants the benefits. What benefits from average household paying 6k in school taxes each year. I see high Schools that will pass for college campuses, Million dollar Admin building, faculty driving Chevy Tahoes, 18 wheeler at each high school for band equipment, football coaches making over 100k per year and not having to teach? Wait, what? Teachers are not allowed to drive a Tahoe? What do you think a teachers / coaches deserves to make? How should schools transport their equipment or gear? You live in Frisco dude, what did you expect, a free ride? Quit your whining. I think he's referring to district-provided vehicles, not personal ones.
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Re: Property Taxes 2020
[Re: beaversnipe]
#7805870
04/14/20 04:48 PM
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Joined: Jun 2009
Posts: 4,972
Dry Fire
Extreme Tracker
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Extreme Tracker
Joined: Jun 2009
Posts: 4,972 |
There is a rumor that I may be forced to take a 20% pay cut until the hospital can once again be open for elective procedures. Given that fact, my state income tax liability will also drop. In Texas if I had to take a 20% pay cut, my property taxes would still go up 10%.
coffee spelled backwards is eeffoc. I don't give eeffoc until I have my morning coffee.
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Re: Property Taxes 2020
[Re: TX_LT230FH]
#7805874
04/14/20 04:51 PM
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Joined: Sep 2004
Posts: 12,471
RedRanger
THF Celebrity
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THF Celebrity
Joined: Sep 2004
Posts: 12,471 |
Few people desire to pay their fair share. Everyone wants the benefits. What benefits from average household paying 6k in school taxes each year. I see high Schools that will pass for college campuses, Million dollar Admin building, faculty driving Chevy Tahoes, 18 wheeler at each high school for band equipment, football coaches making over 100k per year and not having to teach? Wait, what? Teachers are not allowed to drive a Tahoe? What do you think a teachers / coaches deserves to make? How should schools transport their equipment or gear? You live in Frisco dude, what did you expect, a free ride? Quit your whining. I think he's referring to district-provided vehicles, not personal ones.
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Re: Property Taxes 2020
[Re: ducknbass]
#7805879
04/14/20 04:55 PM
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Joined: Sep 2004
Posts: 12,471
RedRanger
THF Celebrity
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THF Celebrity
Joined: Sep 2004
Posts: 12,471 |
Few people desire to pay their fair share. Everyone wants the benefits. What benefits from average household paying 6k in school taxes each year. I see high Schools that will pass for college campuses, Million dollar Admin building, faculty driving Chevy Tahoes, 18 wheeler at each high school for band equipment, football coaches making over 100k per year and not having to teach? Like I said last year. You love to brag about your ZIP code. That comes with cost. Don't let Pride in Ownership, and City Pride confuse you with bragging. I have lived in a few cities in my life and long tern in 2, Irving and Frisco. You get both end of the spectrum there, one is a Chithole and the other is the envy of other cities. Frisco Police is outstanding and offer excellent customer service, I hear the Fire Department is excellent, and the City Council and the the design of the city is outstanding. I have enjoyed living in Frisco and proud to be a resident.
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Re: Property Taxes 2020
[Re: PMK]
#7805921
04/14/20 05:38 PM
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Joined: Nov 2009
Posts: 91,416
bill oxner
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I got something about protesting the mail. Threw it in the trash. Locked when I turned 65. there are still reasons to protest ... at some point in time you will sell your house or your daughter will have to deal with it ... at that point in time with the 10% increase annually in the appraisal value going up, there will be h3ll to pay in capital gains. Keep the appraised value as low as possible even if your rates are locked down. Its my understanding that the price will step up to the current price for her when I die. No Capitol gains on anything. Look it up.
Quail hunting is like walking into, and out of a beautiful painting all day long. Gene Hill
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Re: Property Taxes 2020
[Re: beaversnipe]
#7805934
04/14/20 05:50 PM
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Joined: Sep 2012
Posts: 12,923
PMK
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Posts: 12,923 |
correct ... Texas doesn’t have an inheritance tax but your daughter will be responsible for federal taxes, which will be determined by the value of the house. The tax rate depends on how low or high the value is.
"everyone that lives dies but not everyone who dies lived..."
~PMK~
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Re: Property Taxes 2020
[Re: beaversnipe]
#7805941
04/14/20 06:05 PM
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Joined: Jul 2019
Posts: 14,351
Hudbone
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Posts: 14,351 |
I think Bill would actually want the value of the home to be as high as possible to prevent the daughter from having to pay gains when she ultimately sells the place.
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Re: Property Taxes 2020
[Re: beaversnipe]
#7805966
04/14/20 06:37 PM
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Joined: Sep 2012
Posts: 12,923
PMK
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Joined: Sep 2012
Posts: 12,923 |
true, but unless she lives in it for 2 years, it will be taxed as regular income when sold ...
"everyone that lives dies but not everyone who dies lived..."
~PMK~
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Re: Property Taxes 2020
[Re: beaversnipe]
#7805983
04/14/20 06:50 PM
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Joined: Jul 2019
Posts: 14,351
Hudbone
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Posts: 14,351 |
Yes, but only on the profit over the stepped up basis.
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Re: Property Taxes 2020
[Re: PMK]
#7806027
04/14/20 07:41 PM
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Joined: Jul 2006
Posts: 110,808
dogcatcher
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Posts: 110,808 |
true, but unless she lives in it for 2 years, it will be taxed as regular income when sold ... Nope, she inherits it at FMV, if sold for that amount, there is no gain and no tax.
Combat Infantryman, the ultimate hunter where the prey shoots back. _____________"Illegitimus non carborundum est"_______________
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Re: Property Taxes 2020
[Re: Hudbone]
#7806057
04/14/20 08:18 PM
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Joined: Jan 2010
Posts: 23,830
beaversnipe
OP
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OP
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Posts: 23,830 |
I think Bill would actually want the value of the home to be as high as possible to prevent the daughter from having to pay gains when she ultimately sells the place. Negative. With all the “bring it” he is hoping for a flood, hail, tornado, hurricane and lightning -preferably all together- to claim insurance on it.
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Re: Property Taxes 2020
[Re: beaversnipe]
#7806094
04/14/20 08:38 PM
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Joined: Jul 2019
Posts: 14,351
Hudbone
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Joined: Jul 2019
Posts: 14,351 |
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Re: Property Taxes 2020
[Re: dogcatcher]
#7806095
04/14/20 08:42 PM
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Joined: Sep 2012
Posts: 12,923
PMK
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Joined: Sep 2012
Posts: 12,923 |
true, but unless she lives in it for 2 years, it will be taxed as regular income when sold ... Nope, she inherits it at FMV, if sold for that amount, there is no gain and no tax. I think I stand corrected, I went back and re-read or interrupted what I read ... it appears that if she inherited and sold, no additional taxes UNLESS she lived in it for 2 years (or longer) and then sold, THEN it could be deemed as regular income and be taxed ... now I'm confused.
"everyone that lives dies but not everyone who dies lived..."
~PMK~
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Re: Property Taxes 2020
[Re: beaversnipe]
#7806099
04/14/20 08:44 PM
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Joined: Jul 2019
Posts: 14,351
Hudbone
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Posts: 14,351 |
"With all the “bring it” he is hoping for a flood, hail, tornado, hurricane and lightning -preferably all together- to claim insurance on it." If the home is destroyed and he dies in the event, she'll still have a lot to sell.
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Re: Property Taxes 2020
[Re: dogcatcher]
#7806100
04/14/20 08:44 PM
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Joined: Nov 2009
Posts: 91,416
bill oxner
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Posts: 91,416 |
true, but unless she lives in it for 2 years, it will be taxed as regular income when sold ... Nope, she inherits it at FMV, if sold for that amount, there is no gain and no tax. Bingo. I paid $100,000 45 years ago. There is no way she would have to pay capital gains on $400,000 if it sold for $$500,000. Same as if you sold you last house. Look it up.
Quail hunting is like walking into, and out of a beautiful painting all day long. Gene Hill
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