Home Property Tax?

[DFWminis]

I received my tax for my home this year(We have only been here for one year). Our taxes almost doubled. Now we just filed out Homestead exemption not sure how much that will change the tax. I am assuming this is not normal. What might be the next step I should take? Dispute it from everything I researched or should I hire a company to handle all that? Any advice is greatly appreciated!

[BMCSean]

I dispute ours myself every year. I just go in and act like I have no idea what I'm doing and just ask for help, stay polite the whole time. They have lowered my taxable value by a large chunk every time.

The first year will be the biggest jump, especially if it was a new build.

[slow99]

Ours did it - it'll do that when the house hasn't transacted in years then they set it to the price you paid for it. What pisses me off is the way the escrow is handled. I knew they weren't holding out enough last year so I called and asked them what happens in a year (now) and they said I'll just make up the value. No problem, but instead of just the value from last year, they're assuming it'll rise like that again next year.

So, my monthly mortgage/tax payment just jumped $700 a month on me. Again, I get it, just pissed they explained it wrong when I was being proactive about it.

[BMCSean]

If you're afraid it will be short, deposit more into it before the year ends, that way you have the proper balance when the assessment is done. It will still go up, but not as much.

[slow99]

If you're afraid it will be short, deposit more into it before the year ends, that way you have the proper balance when the assessment is done. It will still go up, but not as much.

Yeah I get it. The fact that they told me incorrect info when I was calling proactively is what pisses me off.

[bcoop]

Ours did it - it'll do that when the house hasn't transacted in years then they set it to the price you paid for it. What pisses me off is the way the escrow is handled. I knew they weren't holding out enough last year so I called and asked them what happens in a year (now) and they said I'll just make up the value. No problem, but instead of just the value from last year, they're assuming it'll rise like that again next year.

So, my monthly mortgage/tax payment just jumped $700 a month on me. Again, I get it, just pissed they explained it wrong when I was being proactive about it.

I bought my house 8 years ago. Escrow has never been right in those 8 years. I either owe, or get a check every single year. Granted my house is worth a fraction of yours, so the amount owed isn't much, but it is annoying nonetheless.

[juiceweezl]

No escrow, no problem. I stash money all year long and then pay the taxes in one lump sum from the account where I hide the money. It comes out of my paycheck automatically. That crazy changing escrow mess happened on my first house way back in 1998, and I swore never again. I haven't paid PMI or any escrow since.

As for the tax hike the OP mentioned, my guess is new house built. The old value was probably just the land. Drop a house on it and the property value goes way up. Not sure if new build though.

[slow99]

No escrow, no problem. I stash money all year long and then pay the taxes in one lump sum from the account where I hide the money. It comes out of my paycheck automatically. That crazy changing escrow mess happened on my first house way back in 1998, and I swore never again. I haven't paid PMI or any escrow since.

I won't do it again. I had a buddy I trust telling me adamantly not to do it ... should've listened.

[95DRGT]

No escrow, no problem. I stash money all year long and then pay the taxes in one lump sum from the account where I hide the money. It comes out of my paycheck automatically. That crazy changing escrow mess happened on my first house way back in 1998, and I swore never again. I haven't paid PMI or any escrow since.

As for the tax hike the OP mentioned, my guess is new house built. The old value was probably just the land. Drop a house on it and the property value goes way up. Not sure if new build though.

+1 except I split my tax burden (1/2 in Nov, 1/2 in June)

[kingjason]

As for the tax hike the OP mentioned, my guess is new house built. The old value was probably just the land. Drop a house on it and the property value goes way up. Not sure if new build though.

This is exactly what happened I bet. We tried to tell a friend of ours about this when they bought a new house. They cried, screamed, kicked and moaned when their house payment went from 1200.00 to 1900.00. It usually levels out after the second year though. I had put my taxes back since I was pre warned about this when buying a new home.

[DFWminis]

It is not a new house was built in 1996.

[Baron Von Crowder]

I won't do it again. I had a buddy I trust telling me adamantly not to do it ... should've listened.

I didnt have an option. It's part of my loan requirements.

[94form2000z]

IF you just bought it within the last year, dispute it yourself and just use the purchase price of your house. They should lower it down to very close to purchase price. You have to be more creative after that when disputing like use other properties around you or present pics or bids of work for repairs needed at the home.

[juiceweezl]

I didnt have an option. It's part of my loan requirements.

I'm not a loan expert, but I don't think they can require it. I know they can require PMI, but I didn't think property taxes fell under that. I may be wrong though.

[juiceweezl]

IF you just bought it within the last year, dispute it yourself and just use the purchase price of your house. They should lower it down to very close to purchase price. You have to be more creative after that when disputing like use other properties around you or present pics or bids of work for repairs needed at the home.

Taxes almost doubled based on what? I should have asked earlier. The house I'm in now, the taxes went sky high from what they were with the property the year prior. The seller was retired military, so there were no taxes. Could be something like that or are you saying it doubled based on what you had paid?