Falling Property Values Mean Less Money For Schools

[rancher]

Bad news for school districts across the state, this will have a major impact on school budgets the next few years as the Texas Leg. will not even be in session. These trends are projected to continue because of the large amount of foreclosures on the market. Plus add to the mix, homeowners now are just walking away because of the lossing value of their homes.

The number of U.S. homeowners in negative equity is on the rise, according to a report. Those who owe more on the mortgage than their house is currently worth, amounted to 28.4 per cent of single-family homeowners, real estate data firm Zillow Inc said.
Links attached

Read more: http://www.dailymail.co.uk/news/article-1385309/Number-U-S-home-owners-negative-equity-jumps-peak-levels-house-values-plummet-fastest-rate-2008.html#ixzz1LxXaL8UX

http://dfw.cbslocal.com/2011/05/09/falling-property-values-mean-less-money-for-area-school-districts/

[Blastoderm55]

Trends in property values are finally correcting themselves as they were too high to begin with. My appraised value dropped $9,000 from last year, and that's with making $9,000 in noticable improvements (windows).

[rancher]

The apprasials and projected tax bill are going out this month for most districts across the state, but remember next school years budget will not be based on this but on what they take in this year. The bills going out now will impact the 2012-2013 school year budgets.

[44INAROW]

It would be nice if MY property tax value went down, instead of increased by 7% - gets old - very old :(

[cotulla]

rancher is reading websites from the UK? nice information source on US housing... WTH?

really getting tired of the anti-athletics, anti-public school stance from this guy... take it somewhere else.

[Bullaholic]

Some property values are actually being driven up by more and more of those overpaid, dumb-jock, feetsball coaches and their bloated staffs moving into affluent neighborhoods......:D

[RoyceTTU]

Originally posted by cotulla
rancher is reading websites from the UK? nice information source on US housing... WTH?

It's still based on US Data.



really getting tired of the anti-athletics, anti-public school stance from this guy... take it somewhere else.

But your right on here.








This is what I have been saying all along about this argument of the Budget Shortfall. This is the largest part of the budget shortfall. Yes, some of the new policies passed by Rick wasn't going to cover the bill, but the larger portion was a direct correlation of Forclosures throughout the US. Add on top of that all the local Tax Leins that will never get paid. And now falling Appraisals. These were all things that very few people in Texas or the US for that matter could foresee.

[scrub c]

Originally posted by Blastoderm55
Trends in property values are finally correcting themselves as they were too high to begin with.

yep...

[Blastoderm55]

Originally posted by Bullaholic
Some property values are actually being driven up by more and more of those overpaid, dumb-jock, feetsball coaches and their bloated staffs moving into affluent neighborhoods......:D

:D

[Reds fan]

Austin County notices were supposed to go out last week if there was an increase in appraised value. I have not recieved one so I assume there's no increase this year. Think I'll still protest again as it never hurts.

[NastySlot]

Rancher...thought of you yesterday...took a group of kids to Austin to visit the State Cemetary, Land Commision Office and the Capitol...it was at the Capitol that I thought WOW if Rancher were here to see the House at work.......I wonder if he would think these guys are doing nothing but wasting tax dollars as they sat in a recess that was to last to 2:40 and didn't start showing up until 3:00.....you would of appreciated when I had a student come up to me and tell me..."they're not even paying attention to the Bill being discussed.......they're all talking, walking around the room, eating candy, on cell phones and computers".....and worst of all the kid asked me how can they reach over and vote for someone thats not there.....shouldn't they be present to vote?"


The kid noticed everything that they can't do in the classroom...that the guys running our state can get away with and they re at work..........oh yeah while there they were going to postpone a bill which would play into the budget...questions were being asked about why as we left.....but you will be happy to know that your lawmakers were able to narrowly pass a Bill that will allow electric and natural gas powered cars to drive in the HOV lanes....a Bill put before the House by a Rep. from Austin which by the way has no HOV lanes that I know of.


and Perks....nice vehicles parked around the Captiol with what Exempt plates....nice.

[rancher]

I hope they take note in Sealy that the former Supt. just walked away from her home and let it go to foreclosure. Not going to help those propety values in that section of town, if they decide to protest.

[NastySlot]

Originally posted by rancher
I hope they take note in Sealy that the former Supt. just walked away from her home and let it go to foreclosure. Not going to help those propety values in that section of town, if they decide to protest.


they should note all that walk away from home let go to foreclosure.

[Ernest T Bass]

Easy to do when you put down 2% for a down payment. Bet not many with a 20% down payment have just walked away.

[BwdLion73]

I dont know where the 'falling property value' comes from mine has gone up every year or two years forever. Went up $3620 this year, and has gone up a total of $65,230 since the 2000's!

I'm going to have to find a full time job when I retire just to pay property taxs and insurance.:(

[RoyceTTU]

Originally posted by BwdLion73
I'm going to have to find a full time job when I retire just to pay property taxs and insurance.:(

No way man, that's when you do one of those reverse mortgage dealy-whoppers so the rest of your family can pay once your gone. :doh: :p

[garciap77]

Originally posted by BwdLion73
I dont know where the 'falling property value' comes from mine has gone up every year or two years forever. Went up $3620 this year, and has gone up a total of $65,230 since the 2000's!

I'm going to have to find a full time job when I retire just to pay property taxs and insurance.:(

Move to Early!:D



;)

[BwdLion73]

Originally posted by garciap77
Move to Early!:D



;)

I doubt they are any better. I live outside the city limits but in the Brownwood school district. Before it is all over I will sell everything I have and be living in an RV on some land I have eating... vienna sausage. ;)

but seriously taxes and insurance cost are making me look at some changes down the road.