Collin county cad

bizguy

Diamond Member
#41
I used to live there- gotta admit sending your kids to public school in Montgomery isn't the same as Frisco. Back in the early 90s my little house cost me $325/yr in taxes.... here $14k.... OUCH! I would like to retire here but can't see being able to pay this much in taxes even when we finish paying the mortgage...
no whining allowed when you live in a $700,000 house :)
 
#42
I've come to think that property taxes are probably the most fair, as you can choose how big a house and where to live. Income taxes punish productivity and sales taxes punish consumption (not to mention sales tax is a regressive tax that punishes those at the lowest income levels).
This is not really a choice if you have kids...unless you homeschool. I worked really hard to keep costs down by living in a modest house in an older part of Plano. I guess I should feel lucky that my house is "worth" a lot more than what I paid for it/owe but I'm not happy about the ridiculous property taxes. At least mine are not as bad as most people in Frisco but I'd much rather have an income tax.
 

zubie75082

Silver Member
#43
Mine was appraised over the 10% markup yet again so capped at 10%. Funny how I go in and fight it every year, we agree on a value much lower, and then have to go through the exact same thing. They count on homeowners being lazy..

I have my data ready to go, just hate having to miss part of my work day to go in and prove to them they are overcharging.
Is it like jury duty where hey give you a day and if you can't make it work (have 2.5 weeks I'll be out of town on vacation in June) then you can reschedule? New to this process.
 

brianw76

Silver Member
#44
Is it like jury duty where hey give you a day and if you can't make it work (have 2.5 weeks I'll be out of town on vacation in June) then you can reschedule? New to this process.
Yes, you can reschedule and put in a preference for days but they don't have to give it to you when you request it.

Last year I rescheduled due to a conflict and requested a new date, but they changed the location from the semi-close one they have (The Colony I think) and instead meant I had to drive to Denton. Nothing like having to drive all the way to Denton and waste that much more time and gas to convince them they screwed up on assessing the value of your home (and be right).

So just be careful if you do have to reschedule, they may make it even more difficult on you if you do.
 

planomateo

Platinum Member
#45
Last year the informal route worked well for me. Informal being you just walk in and talk with them, I was prepared (not as much as I should have been) and I got $25k in savings.

This took me about 10 mins or so at the Collin CAD.
 
#46
I feel fortunate, as my house went up 2.9%. 515 to 530. However, I just sold the house next door for $605k, same size as mine, same size pool, etc. I could have easily been $585k.
 

mommy22

Bronze Member
#48
no whining allowed when you live in a $700,000 house :)
wasn't whining, but you already knew that.... Not quite $700k but you also knew that... house poor...bought high then the economy went to ~@!#$ ... still, we are fortunate indeed...
 
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#49
Texas is great for Taxes if you make a ton of money..

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We choose to live in areas of the town, that taxes are higher than others.. You can get a house in Mesquite for 150k, and taxes(not rates).

We make choices to have quality of life, convenience, opportunity that costs in taxes.
Eventually it gets too high and people move, but folks just replace the movers...

usually coming from places Like CA, where taxes are REALLY high...
 

Tooleman

Diamond Member
#50
My point was Texas is better for higher income workers.. Because tax isn't based on income..

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Londoner

Platinum Member
#52
give me the model they use in Cali, where the sales tax is based on the sales price of the house... so the value is set once rather than "updated" every year... that way, you can actually plan to afford the house you live in 10 years down the road rather than worrying how much it will change each year

got ours in yesterday, and "only" went up 5.5%... feel lucky in a strange way, but sucks nevertheless
 

bizguy

Diamond Member
#53
give me the model they use in Cali, where the sales tax is based on the sales price of the house... so the value is set once rather than "updated" every year... that way, you can actually plan to afford the house you live in 10 years down the road rather than worrying how much it will change each year

got ours in yesterday, and "only" went up 5.5%... feel lucky in a strange way, but sucks nevertheless
Uh, no. Prop 13 is one reason CA finances are so screwedup...

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Jayhawk

Gold Member
#54
Mine has also gone up 10% each of the last few years. It is still less than the value if I sell. We all complain about it but we then brag about how much we can sell our house for and how much equity we have now. You can't have your cake and eat it too. If your home has a high value you are going to pay the tax. Been that way all along. More power to you though if you can get it lowered. Anybody used the services that only charge if they get a reduction?
 

planomateo

Platinum Member
#55
Mine has also gone up 10% each of the last few years. It is still less than the value if I sell. We all complain about it but we then brag about how much we can sell our house for and how much equity we have now. You can't have your cake and eat it too. If your home has a high value you are going to pay the tax. Been that way all along. More power to you though if you can get it lowered. Anybody used the services that only charge if they get a reduction?
But you'll pay taxes on that increase when you sell it. So getting hit at both ends on a value that has yet to be realized...

Would you like to pay taxes on stock before you sell it...
 
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#56
Mine has also gone up 10% each of the last few years. It is still less than the value if I sell. We all complain about it but we then brag about how much we can sell our house for and how much equity we have now. You can't have your cake and eat it too. If your home has a high value you are going to pay the tax. Been that way all along. More power to you though if you can get it lowered. Anybody used the services that only charge if they get a reduction?
I have a service - they have not been able to get it lowered. But I at least don't have to pay them.
 

Londoner

Platinum Member
#57
Uh, no. Prop 13 is one reason CA finances are so screwedup...

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probably right, but maybe something in between our model and theirs... i wasn't there long enough to experience some of the problems they were having, but do know some of the arts and phys ed classes in my son's elementary school were curtailed... didn't make the connection but i get it... thought much of that was due to the wasteful spending the california lib govt is so well-known for, but can see how prop 13 contributed to it

but we have to reach a plateau as some point, right?
 
#58
Mine has also gone up 10% each of the last few years. It is still less than the value if I sell. We all complain about it but we then brag about how much we can sell our house for and how much equity we have now. You can't have your cake and eat it too. If your home has a high value you are going to pay the tax. Been that way all along. More power to you though if you can get it lowered. Anybody used the services that only charge if they get a reduction?
While your point is well taken, the county's appraisals have dramatically increased while inflation has remained very low. Those two events should have resulted in lowering the tax rate. {insert cricket here}
 

Jayhawk

Gold Member
#59
But you'll pay taxes on that increase when you sell it. So getting hit at both ends on a value that has yet to be realized...

Would you like to pay taxes on stock before you sell it...
Not really sure what you are talking about. Property taxes are a way of life and how the state runs. If you cannot afford the property tax then you are living in a too expensive of a home. I support an idea of freezing property taxes for senior citizens.

Taxes when you sell? Only if you plan to take a cap gain and I know of few people that do that.
 

Jayhawk

Gold Member
#60
While your point is well taken, the county's appraisals have dramatically increased while inflation has remained very low. Those two events should have resulted in lowering the tax rate. {insert cricket here}
I see your point but when have taxes ever gone down. Not sure if it is still true but people used to move every 5 years so most people would be paying taxes on an appraisal that hasn't had the 10% increase for years on end.