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To: bgill

Property taxes are calculated on sales from between 2-4 years ago.

There’s a nice long window before the higher taxes hit. One of my houses is up over 100k in the last year, my taxes are up zero. And I’m selling it soon. And it’s my principal residence so it’s tax-free sale as I won’t profit over the $550k limit. I bought my next principal residence about 2.5 years ago and used it as a second home. It will become my principal residence in a few months.

I bought my current principal residence in 2003 and rented it for 5 years before moving in and declaring it my principal residence.

There are many ways to skin the tax cat.


10 posted on 06/24/2021 9:49:54 AM PDT by SaxxonWoods ( comment might be sarcasm, or not. It depends. Often I'm not sure either.)
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To: SaxxonWoods

We don’t have windows. In TX, property taxes go up 10% every year.


16 posted on 06/24/2021 10:47:38 AM PDT by bgill
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