Texas Heat!

[jinman]

Surely, the number of homes and businesses destroyed in these fires is the most costly in terms of money and human physical and emotional stress. However, with the widespread nature of the fires, just think of the electrical power infrastructure as well as some natural gas and water utilties that will have extensive damage. Of course, the electrical power lines and poles take the most damage. Unlike a storm that produces local problems, the electrical grid throughout Bastrop County will be completely destroyed in the areas of wildfire. This will have a huge impact on people's abilty to even start rebuilding. They can clean off thier lots and start over, but electrical power will need to be restored first or everyone will be working off of generators. It just seems like a double and triple whammy.

 

[txdon]

With 1400 homes destroyed this will also affect the tax base of Bastrop County. Would the destroyed homes still have to pay 2011 property tax for the 2/3 year? I know when I moved the cabin in July (two years ago) I had to pay the complete years tax on it.

 

[jonyyuma]

I bet they will still send a tax bill out? I almost had to have oxygen when they cut ours a little this year for Fallen value of real estate? I am sure they will makeup for it next year here?

 

[Bird]

With 1400 homes destroyed this will also affect the tax base of Bastrop County. Would the destroyed homes still have to pay 2011 property tax for the 2/3 year? I know when I moved the cabin in July (two years ago) I had to pay the complete years tax on it.

I'll be surprised if they don't get a tax bill for the complete year.

 

[jinman]

With 1400 homes destroyed this will also affect the tax base of Bastrop County. Would the destroyed homes still have to pay 2011 property tax for the 2/3 year? I know when I moved the cabin in July (two years ago) I had to pay the complete years tax on it.

Don, I suspect those folks will be on tab for the full year unless they sell the property. It's like sales tax on a car. If you buy a car and then total it a month later, you still have to pay sales tax again on your replacement. What is it they say? Death and taxes are the two things you can't escape. My guess is that many of the lesser valued properties with total losses may also have no insurance. Those folks may just walk away and leave Bastrop County to figure out what to do.

 

[jonyyuma]

I would certainly hope that most people, there had some insurance in effect..be certain, the rates will really jump now due to them paying out..instead of just collecting?

 

[charlz]

Typically your property value is set until it gets re-assessed. I would think they will get the full tax bill and have to protest it to get value re-assessed and pro-rated. Although, there might be a political move to give 'fire relief' or something where the county pro-actively re-assess fire damaged properties.

 

[wroughtn_harv]

I would certainly hope that most people, there had some insurance in effect..be certain, the rates will really jump now due to them paying out..instead of just collecting?

We already have some of the highest home insurance rates in the nation.

 

[Bird]

Typically your property value is set until it gets re-assessed. I would think they will get the full tax bill and have to protest it to get value re-assessed and pro-rated. Although, there might be a political move to give 'fire relief' or something where the county pro-actively re-assess fire damaged properties.

Every year since we've been here, the central appraisal district raised the assessed value on our home. And each year, I went down in person to talk to them and they lowered it, except last year. I've always gone early and if you can't get an appraisor to agree to a number, you can appeal to a hearing board, but of course there's a time limit on filing the appeal. Last year I had a knee replaced, the news said home values in my town went down 3% but they jumped my appraisal up again, and I didn't go talk to anyone until after the deadline to appeal. So since they knew I couldn't file a formal appeal, they didn't change it; kept it high. Now this year they lowered it just a little, but still more than places like zillow.com say it's worth.

And like Harvey said, Texas already has some of the highest insurance premiums in the nation, but after this drought and the fires, I expect both insurance premiums and tax rates to go up.

 

[two_bit_score]

The deadline to file a property tax appraisal protest in Texas has expired. They are usually completed by the end of July so the rolls can be certified and the entities can start their budget process in August - September.

I don't know if the law provides anything for adjustments as the result of disasters after the rolls are certified.