These 10 cities are seeing the biggest jump in foreclosures as high home prices and property taxes bite
Foreclosures are surging, thanks to higher home prices and property taxes biting into homeowner finances. To be sure, there is no nation-wide wave of foreclosures coming like during the Great Recession, and the recent uptick hasn't been evenly spread across the housing market, according to a new Realtor.com analysis.
Proposed Tax Increase for Bulloch County Comes in at 33%, 3 Hearings Scheduled
The Georgia Virtue
The Bulloch County Board of Commissioners today announces its intention to increase the 2023 property taxes it will levy this year by 28.04 percent over the rollback millage rate. After preparing the annual digest, if the County estimates it will collect more in property taxes than the year before because of increased assessment values, the Board of Commissioners may roll back, increase or leave the millage rate unchanged.
Property assessment prevents home sale in Jackson County
An Independence woman who had a contract to sell her home says she lost that deal due to the Jackson County valuation of that property. Kim Clark's sale of her home for $480,000 was scheduled to close in August. However, when the buyer asked what the new Jackson County property valuation was for the home, Clark didn't know because she didn't get the required notice.
With property valuations skyrocketing, Pillen appoints 'working group' to consider reforms
With valuations of homes skyrocketing, and farmers still smarting over a steep rise in agricultural land values, Gov. Jim Pillen is forming a “working group” to look at reforming the state's property valuation system. It might lead to caps on valuation increases, or automatic “rate rollbacks” of property tax increases when valuations spike, observers said Monday.
Owners of these 16 high-value Charlotte buildings challenged county's 2023 revaluation
The Charlotte Observer
A number of owners of properties in Charlotte with tax values of hundreds of millions of dollars questioned the county's 2023 revaluation of those sites, according to county data. Many of them are concentrated in uptown. They are among the more than 20,000 properties that underwent an informal appeal during Mecklenburg County's 2023 revaluation process, just under 7,000 of which progressed to a formal appeal by early July.
Texas Gov. Greg Abbott signs $18 billion property tax cut package
The Texas Tribune
The package puts $12.6 billion of the state's historic budget surplus toward making cuts to school taxes for all property owners, dropping property taxes an average of more than 40% for some 5.7 million Texas homeowners and offering brand-new tax savings for smaller businesses and other commercial and nonhomesteaded properties.
Denton CAD says 132,000 protest appeals filed this year; 98% certified
The Denton Central Appraisal District received 132,000 property tax protests this year, up from about 100,000 last year, Chief Appraiser Don Spencer told county commissioners. "I do feel that the growth and the desirability of Denton County contributed a lot to the additional protests that were filed this year," Spencer said during Tuesday's Commissioners Court meeting.
Katy-area counties see unprecedented property value spikes
Appraised property values are continuing to skyrocket across the Greater Houston area due to pandemic-era economic conditions, putting many residents in a bind. State lawmakers came to a potential deal mid-July to address the resulting high taxes. Residential property values in Harris and Fort Bend counties have seen dramatic hikes since the onset of the pandemic in 2020.