DIYbanter - View Single Post - Shopsmith on steroids --- Felder CF 741

Leon[_7_]

On 1/16/2017 8:54 PM, wrote:
On Mon, 16 Jan 2017 19:27:06 -0600, Leon lcb11211@swbelldotnet wrot

SNIPP

So our house was around $165K 5 years ago and now it is at $217K
That increase has changed out tax liability from $4950 to $6510 per
year. That is over $1500 on a home about half the value of yours.
Homes in your range that are in our neighborhoods are looking in the
neighborhood of a $3000 increase in annual taxes, triple your increase.

Your taxes are double mine on 3.4 the house value.

How would you like to trade tax bills? ;~)

Given many of these residents were guaranteed a loan and many were way
in over their heads and clueless about what they were getting into,
they bought the pie in the sky with tax payments of approximately
$12,000 per year on top of P&I.

And then you have to add an increase on insurance as when the value of
the house goes so does your insurance premium, a requirement of the lender.

And one more little tid bit. Our homes started going up significantly
when our neighborhood was built out a few years ago. There is still a
lot of wide open spaces near us that is being developed and hardly any
of these houses are going for less than $250K for 1600 sq ft.