Real Estate Crash thread

[alpinevibes]

Most of CO seeing 40-50% increases while the high country will see 50-70% tax increases. It is so bad that fire districts have actually pulled some mill levy increases off the ballot this coming cycle in Vail! That never happens. I have had my place less than 10 years and my taxes will be 4x what they were at purchase with only about half of that effect being valuation.
.

85% here, yeeehaw https://www.aspendailynews.com/news/...e162eef85.html

[Foggy_Goggles]

Don't forget that your taxing entities set the millage annually. So check the dates, go to the meetings and kick the tires on the budget. The story that taxes go up lockstep with AV, is a false narrative.

[altasnob]

Z'all good. Everyone lives in public housing there anyway.

[liv2ski]

Most of CO seeing 40-50% increases while the high country will see 50-70% tax increases. It is so bad that fire districts have actually pulled some mill levy increases off the ballot this coming cycle in Vail! That never happens. I have had my place less than 10 years and my taxes will be 4x what they were at purchase with only about half of that effect being valuation.

But I get yelled at for saying "thank Dog for Prop 13". People are funny.

[AdironRider]

I think you get yelled at about your defense of prop 13 because it is hypocritical to many positions you take elsewhere.

[fastfred]

Don't getme wrong I'm not an anti tax asshole

But taxes jumping this much in 9ne year is insane

When the elected commissioners are idiots and when most of the budget is being pissed away on pet programs while roads crumble teachers get 1% pay raises

But we get a bloated high country conservative budget that some how helps dictate public policy

No thanks

[sirbumpsalot]

Don't getme wrong I'm not an anti tax asshole

But taxes jumping this much in 9ne year is insane

When the elected commissioners are idiots and when most of the budget is being pissed away on pet programs while roads crumble teachers get 1% pay raises

But we get a bloated high country conservative budget that some how helps dictate public policy

No thanks

DEI directors and consultants don't come cheap.

[simple]

Gas and diesel fees (tax) just got boosted in Colorado to benefit road projects. Will it go to roads or to pay for salary inflation that needs to happen to match the out of control cost of living?

[mud]

Where are they going to get their gas fees when the majority of cars are electric?

[muted reborn]

Where are they going to get their gas fees when the majority of cars are electric?

I pay for this when registering my car in Utah as a flat fee. I could also enroll in paying by the mile but don't. All states will be like this soon.

[ötzi]

Road use fees, something like the OReGo program in Oregon, but mandatory for electric vehicles, are no doubt coming. How it gets implemented is another question.

State site" https://www.myorego.org/

[Percy Rideout]

Don't getme wrong I'm not an anti tax asshole

But taxes jumping this much in 9ne year is insane

When the elected commissioners are idiots and when most of the budget is being pissed away on pet programs while roads crumble teachers get 1% pay raises

But we get a bloated high country conservative budget that some how helps dictate public policy

No thanks

Artificially capping property tax rates to blunt the 80+% increase in appraised value for high country real estate is the equivalent of Rent Control for the rich.

Two sides of the same coin.

[liv2ski]

Artificially capping property tax rates to blunt the 80+% increase in appraised value for high country real estate is the equivalent of Rent Control for the rich.

Two sides of the same coin.

In CA, no bodies rent has gone up 4X in the last 9-10 years as Summit commented, so I find your comment being kind of full of it. While Prop 13 is not perfect (it should only apply to owner occ dwellings) it makes sense to me to limit politicians ability to raise taxes. Increasing property taxes just because values went bonkers is BS in my opinion. As in CA, people should be able to plan/know what their taxes will be down the road without the surprises most states toss out there. The property tax system in place in most states is BS IMO.

[californiagrown]

Artificially capping property tax rates to blunt the 80+% increase in appraised value for high country real estate is the equivalent of Rent Control for the rich.

Two sides of the same coin.

Property tax should be based upon the sale price, with the yearly increase capped, and should never exceed 10% of the owners total net income for the year. IMO.

[simple]

Where are they going to get their gas fees when the majority of cars are electric?

They don't plan for the year 3030 when that might be the case

[simple]

I pay for this when registering my car in Utah as a flat fee. I could also enroll in paying by the mile but don't. All states will be like this soon.

Certain states are just playing along with the culture war....I expect few states to agree on anything in the future

[muted reborn]

Certain states are just playing along with the culture war....I expect few states to agree on anything in the future

I don't know what you mean. If there is a culture war against EVs they will be taxed for road use without a doubt. And if they don't - OK.

[Danno]

I am super glad that we're discussing property taxes and whether they should be capped, such a fresh and new topic for the RE thread!

[yeahman]

Increasing property taxes just because values went bonkers is BS in my opinion. As in CA, people should be able to plan/know what their taxes will be down the road without the surprises most states toss out there. The property tax system in place in most states is BS IMO.

This.

[panchosdad]

In CA, no bodies rent has gone up 4X in the last 9-10 years as Summit commented, so I find your comment being kind of full of it. While Prop 13 is not perfect (it should only apply to owner occ dwellings) it makes sense to me to limit politicians ability to raise taxes. Increasing property taxes just because values went bonkers is BS in my opinion. As in CA, people should be able to plan/know what their taxes will be down the road without the surprises most states toss out there. The property tax system in place in most states is BS IMO.

Idaho caps yearly increases to 3% plus new growth, so rates actually have been falling to offset rising values.

[skiballs]

Where are they going to get their gas fees when the majority of cars are electric?

Well there was shooting at a Tesla charging station in the Denver area today.
Might slow the trend.


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[ski-wpk]

100% tax valuation increase in Winter Park, CO. I’ve never seen a tax valuation so out of sync with market pricing. No way we could sell at tax valuation price.

[yeahman]

They'll have to walk it all back after the crash, just like last time.

[lowsparkco]

Rates should stabilize with this last .25 point increase. I think it will help the real estate market with a little less variability through the rest of 2023.

[AdironRider]

Idaho caps yearly increases to 3% plus new growth, so rates actually have been falling to offset rising values.

Is that new, because that definitely was not the case for my house in Victor.