Market Conditions in Prosper>Question Details

michael.burk…, Home Buyer in Prosper, TX

if the prices are declining, why would my property taxes increase 5%

Asked by michael.burkey, Prosper, TX Fri May 3, 2013

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Answers

8
T.E. Sumner’s answer
Taxes are about how much government spends, not so much about how much you have or you're worth.

;)

Remember your taxes are simply the total government spends divided by all the property values. So, it doesn't really matter if your value is going up or down. Of course if yours is dropping relative to other's values, then your bill should decrease compared to other's.
0 votes Thank Flag Link Fri May 17, 2013
Prices declining? Please tell me where you got that idea?
0 votes Thank Flag Link Mon Sep 8, 2014
Property tax increase is for the county, typically the don't really "see" if the property value is declining unless it is really obvious across the board. You will have to protest. Get some comps, which I see below that you are getting already, compare the properties in terms of value and updates and go from there. You'll get better luck if you can compare properties that are closest to yours with different values and protest. You can also check the county websites for properties closest to yours and the value.

Good luck,
Susie Kay, RealtorĀ® & Certified Stager
Residential, Commercial, Investment
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net
http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes Thank Flag Link Wed Jun 25, 2014
Property tax increase is for the county, typically the don't really "see" if the property value is declining unless it is really obvious across the board. You will have to protest. Get some comps, which I see below that you are getting already, compare the properties in terms of value and updates and go from there. You'll get better luck if you can compare properties that are closest to yours with different values and protest. You can also check the county websites for properties closest to yours and the value.

Good luck,
Susie Kay, RealtorĀ® & Certified Stager
Residential, Commercial, Investment
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net
http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes Thank Flag Link Wed Jun 25, 2014
Michael trulia is a great resource for viewing pictures and finding a great realtor but it is by no means the real estate bible or "fact" page. Take it from Realtors who work in this market on a daily basis and can pull comps for you. Prices have taken a huge increase in the last year and are going to continue to do so. You can arbitrate your taxes if you'd like. Email me your address and ill send you comps. Realtormg@me.com
0 votes Thank Flag Link Sun May 5, 2013
Thank you Mandi. I would appreciate if you could send some comps my way. My address is 4011 Arches Lane. Prosper Texas 75078.

Thank you very much
Flag Sun May 5, 2013
And how often do property taxes reset? I'd like to know (out of the area)
0 votes Thank Flag Link Sat May 4, 2013
Property taxes are calculated annually in Texas.
Flag Wed Jan 8, 2014
Can someone answer my question? Should be simple. Shouldn't have to wait to closing to discover you need an additional $200 a month for property taxes. All part of the purchase. How often are they reset in this county and how much has the rate increased? Anyone?
Flag Sun May 5, 2013
as usual, you answers to property taxes. don't ask about the property taxes. never ask about property taxes. go do the mortgage calculator and look at the ridiculously low property tax "estimate" You'll fall in love with the house and get to closing before you discover you need an additional $200 a month for property taxes. Can anyone tell me the year to year, how often the taxes get reset? Anyone?
Flag Sun May 5, 2013
Lynn911 The market trnd on the Trulia site indicates that prices have decreased in Prosper. Just getting the facts from Trulia
0 votes Thank Flag Link Fri May 3, 2013
Prices have increased on homes over the past several years. Recommend confer your questions to the experts county tax office.

Lynn911 Dallas Realtor & Consultant
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com 100's of Dallas homes listed for sale or lease

Follow me on Facebook
http://www.facebook.com/lynn911dallas
0 votes Thank Flag Link Fri May 3, 2013
This may help. http://www.texastaxprotest.com. They charge about $300 to fight your taxes. If they don't save you $300 then they prorate the amount all the way down to zero.
Flag Sat Jun 28, 2014
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