House
Property Tax department of Plano has issued values for all residential properties for year 2006 making home-owners happy, market/tax value of houses in my neighborhood have risen by 15 - 20 %
We called the department and said we don’t believe that. Since the tax rate was reduced last year in City of Plano, it looks like the city has increased home values, to manage the budgets. I am not denying the fact that market has seen a great influx due to a lot of immigrants from coastal areas, but come on, DFW is planned in a way that progress happens in a well-spread area and not just in Plano. If you raise home-values, people with vehicles don’t mind travelling a couple of miles north into McKinney or east into Murphy.
Of course PISD has been in top 10 national ISDs for quite some time. That might be a reason why Plano cannot be substituted with any other place in DFW metroplex, including Coppell.
As far as I am concerned, I am not planning to sell my house anytime in the next 13 years, why pay more on tax that is based on market value?
I like the way California bases its property tax on last deed value i.e. the purchase value. Anyhow, when you sell it, you are going to pay tax on the profits, right?
You amaze me. Great work. Keep it going.
Comment by Shashi — May 21, 2007 @ 9:20 pm