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Thread: North Texas hail pounded my home and vehicles.

  1. Quote Originally Posted by Diff-chan View Post
    I pay less property tax than that and my house was, uhh, way more expensive.
    Texas is one of the top 5 highest in property taxes (I believe part of the value I stated included insurance) in the nation. It's also one of the few states that does not have state tax, so in the end, you will pay just as much if you have state taxes.

    https://wallethub.com/edu/states-wit...y-taxes/11585/
    Last edited by gamevet; 16 Aug 2016 at 10:31 PM.

  2. #52
    Quote Originally Posted by gamevet View Post


    You pay rent for either a shoe box of an apartment, or an apartment in a pretty low income part of town. You have neighbors that stomp their feet on the floor above you, or their children are screaming and crying next door. All of your rent money is pretty much gone to waste, since the only return you get from it is a place to sleep and store your stuff.

    What do I get for home ownership on the good side of town?

    -Low crime
    -Good roads
    -Cops that aren't assholes
    -Clean, new stores and restaurants
    -Property value that is going up.
    -A quiet neighborhood

    The other benefits are:

    -Federal tax deductions for property tax and home ownership
    -Property that I can either rent out, or sell at a possible profit in the future
    -Improved credit rating that will also help to get lower interest rates on loans and credit cards.
    You're making a lot of biased assumptions on what is available to rent and where. There are probably also rental properties in the nice part of town. I personally rent from the nicest apartments in my town. I could get a shit hole apartment for 3600 a year. Maybe even 2400.

    I would be impressed if many people actually make money off their long term residence. Or at least as much money as they think. 4000 a year in taxes + yearly insurance adds up. In 20 years you're paid 80000 in property tax.

    How much are you really saving versus what I'm saving by not spending it in the first place?

  3. You're paying property taxes when you rent, it's just not explicit.

  4. #54
    Well yeah. The property owner factors that into his price. But that doesn't change yearly, does it? So if you rent from someone that has owned the property for twenty years, he can probably charge less because his property tax is less.

  5. Property taxes in most states (all except California, I believe) are subject to change annually.

  6. Quote Originally Posted by Fe 26 View Post
    You're making a lot of biased assumptions on what is available to rent and where. There are probably also rental properties in the nice part of town. I personally rent from the nicest apartments in my town. I could get a shit hole apartment for 3600 a year. Maybe even 2400.

    I would be impressed if many people actually make money off their long term residence. Or at least as much money as they think. 4000 a year in taxes + yearly insurance adds up. In 20 years you're paid 80000 in property tax.

    How much are you really saving versus what I'm saving by not spending it in the first place?
    It sounds like you live in an area that is not high income. Yeah, I could probably rent a really nice apartment (for what you're paying) where my brother lives in Montana, but the average income would be in the mid-30s.

    My Escrow of @$3890 has the taxes and insurance rolled together. All of that, combined with the mortgage adds up to less than $1,200 a month. You can't rent a house in my neighborhood for less than that. And, you sometimes get a refund if you paid too much on Escrow.

    My taxes are probably more in line with the $2,500 average of Texas. The other part is more than likely my insurance. It's reported as taxes by the bank, because of it being rolled together in Escrow.
    Last edited by gamevet; 17 Aug 2016 at 11:26 AM.

  7. #57
    Quote Originally Posted by Fe 26 View Post
    Well yeah. The property owner factors that into his price. But that doesn't change yearly, does it? So if you rent from someone that has owned the property for twenty years, he can probably charge less because his property tax is less.
    Rent goes up every year.

  8. #58
    I've never experienced that.

  9. Quote Originally Posted by Fe 26 View Post
    I've never experienced that.
    I lived in an apartment complex where they reel you in with a low 6 month contract, and then raised it up when they had you sign for a 1 year deal.

  10. #60
    I have never had my rent go up

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