Posted on 08/30/2025 6:01:07 AM PDT by cuz1961
My place has gone from $80K value in 2010 to $246K now.
I have added a dual car port and a 30x50 shop, those cost me $30K 2012. This in a rural town of 1,800 in a county of less than 4,600. Yeah, something’s wrong.
Link to 50-126: https://comptroller.texas.gov/forms/50-126.pdf
Wow, you guys sure know a lot about taxes...
What if I sold my home in the state of Ohio for $250,000 and purchased another home in the same state for 400,000? What would be the total tax I would pay?
Oh, I forgot mention, I paid $55,000 for the home I’m in now..
I’ll admit to having no idea with what you’re doing for the most of this, but why cap increases on anything below the inflation rate?
Lots of issues that your tax preparer needs to dive into. but if it has been your main home for two out of the last five years, you get an exclusion on the capital gains of $250,000/single, and $500,000/married.
And there are a lot of extra rules that *may* apply. Talk to your tax person before the end of the year in which you sell.
Yes, Texas assesses every year, even though they can go two, maybe three years between assessments.
It's about time somebody woke up to this con game! School districts are the worst when it comes to grifting. Texas law defines that school districts must tax at a rate of $1 per $100 of property value, but can't exceed $1.17 per $100. They also have to have any increase above $1.04 be put to the voters. They know that any school tax increase will likely get shot down at the ballot box, so instead, they put put the heat on the local tax assessor to increase property appraisals. And, the Texas Education Agency is a willing accomplice to this shakedown.
Ok, we’ve been in this house over forty years. So, that’s good news.. :)
I remember when Ratliff Stadium was new (1982), and it was only used for 1 high school (Permian), while the other high school (Odessa High) had its own stadium (a very crappy one).
I believe that both use Ratliff now.
Public schools economically gang rape the homeowners. Every year they want more and more. I can't believe these failed corrupt institutions only want more and more.
If you really want to find out who owns your home, even if you own it free and clear, stop paying them their rental taxes/fees.
Remember that that is a federal rule, and Ohio tax law may be less forgiving.
I don’t do many OH tax returns, thankfully.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.