Local Economic Perspective (as overheard)
Posted: Tue May 31, 2011 4:34 pm
I was down arguing my property valuation which directly affects property tax here in Texas. It was fairly crowded in the waiting area, with about a 45 minute wait to see an appraiser assigned to one's piece of property in question. Two things to glean from the waiting area:
1) Listen to the guy(s) who just have to talk and give everyone their hardluck stories
2) Watch the people who have met with an appraiser and are leaving.
#2 first: I watched 3 people leave in tears, 2 having to sit back down in the waiting area to gather themselves before driving home. Each said their values, thus taxes, had increased so much that they would not be able to pay their taxes this coming year and were worried about losing their properties. Each was older than 65, thus still preserving a homestead deduction. However, in Texas, the appraisal board can raise value a maximum of 10% for homesteads. Not much in one year but when they hit you with the max for 5-8 years in a row, it adds up. Despite the low house sales here and sluggish economy, values are being raised.
#1: Before I met with my appraiser, I listened to 2 separate guys talking out loud to whomever would listen about how our country was headed for ruin. Both guys were in their early 50s or so. One guy arrived after the other left, thus never meeting. But both said they had buried cash and silver coins in a secret place because neither felt the banks would be trusted to let them into their accounts or safety deposit boxes when the 'inevitable' crash occurred.
Joe Citizen is worried, at least around here.
1) Listen to the guy(s) who just have to talk and give everyone their hardluck stories
2) Watch the people who have met with an appraiser and are leaving.
#2 first: I watched 3 people leave in tears, 2 having to sit back down in the waiting area to gather themselves before driving home. Each said their values, thus taxes, had increased so much that they would not be able to pay their taxes this coming year and were worried about losing their properties. Each was older than 65, thus still preserving a homestead deduction. However, in Texas, the appraisal board can raise value a maximum of 10% for homesteads. Not much in one year but when they hit you with the max for 5-8 years in a row, it adds up. Despite the low house sales here and sluggish economy, values are being raised.
#1: Before I met with my appraiser, I listened to 2 separate guys talking out loud to whomever would listen about how our country was headed for ruin. Both guys were in their early 50s or so. One guy arrived after the other left, thus never meeting. But both said they had buried cash and silver coins in a secret place because neither felt the banks would be trusted to let them into their accounts or safety deposit boxes when the 'inevitable' crash occurred.
Joe Citizen is worried, at least around here.