Comments on: Austin Rental Market Update – thru Oct 2007 http://crosslandteam.com/blog/2007/11/24/austin-rental-market-update-thru-oct-2007/ Austin Real Estate Blog Fri, 11 May 2012 17:13:15 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Steve Crossland http://crosslandteam.com/blog/2007/11/24/austin-rental-market-update-thru-oct-2007/#comment-1107 Steve Crossland Wed, 05 Dec 2007 16:47:57 +0000 http://ben.crosslandteam.com/blog/2007/11/24/austin-rental-market-update-thru-oct-2007/#comment-1107 > I think the owners of those properties were hit with the property tax increase. Am I wrong? Well, I'm not sure. I own to rental homes in Leander in the tax value finally went up this year from $135K to $145K, which is about right for that neighborhood. It had stayed flat for the previous 6 years. So, in this example, my taxes won't really change (I haven't done the math) or might even go down, but the rent values will be up a bit, but still not to where they were in 2001. In 2001, the homes rented for $1350. Today, they rent for $1050 and I could probably get $1100 if my tenants moved out. Steve > I think the owners of those properties were hit with the property tax increase. Am I wrong?

Well, I’m not sure. I own to rental homes in Leander in the tax value finally went up this year from $135K to $145K, which is about right for that neighborhood. It had stayed flat for the previous 6 years. So, in this example, my taxes won’t really change (I haven’t done the math) or might even go down, but the rent values will be up a bit, but still not to where they were in 2001. In 2001, the homes rented for $1350. Today, they rent for $1050 and I could probably get $1100 if my tenants moved out.

Steve

]]> By: Observer http://crosslandteam.com/blog/2007/11/24/austin-rental-market-update-thru-oct-2007/#comment-1110 Observer Tue, 04 Dec 2007 19:14:48 +0000 http://ben.crosslandteam.com/blog/2007/11/24/austin-rental-market-update-thru-oct-2007/#comment-1110 Yes, that was my question. Most of the rental houses are located in the older neighborhoods and their appraisal value was lagging behind the true market value. I think the owners of those properties were hit with the property tax increase. Am I wrong? Yes, that was my question. Most of the rental houses are located in the older neighborhoods and their appraisal value was lagging behind the true market value. I think the owners of those properties were hit with the property tax increase. Am I wrong?

]]> By: Steve Crossland http://crosslandteam.com/blog/2007/11/24/austin-rental-market-update-thru-oct-2007/#comment-1108 Steve Crossland Sat, 01 Dec 2007 00:45:19 +0000 http://ben.crosslandteam.com/blog/2007/11/24/austin-rental-market-update-thru-oct-2007/#comment-1108 > Cedar Park numbers look true. Can the price increase be considered as an ofset for the higher property taxes 07 vs 06 though ? I'm not sure I understand the question. Do you mean, is the rent increase washed out by higher property taxes that the owner now pays? Steve > Cedar Park numbers look true. Can the price increase be considered as an ofset for the higher property taxes 07 vs 06 though ?

I’m not sure I understand the question. Do you mean, is the rent increase washed out by higher property taxes that the owner now pays?

Steve

]]> By: Observer http://crosslandteam.com/blog/2007/11/24/austin-rental-market-update-thru-oct-2007/#comment-1109 Observer Thu, 29 Nov 2007 05:52:08 +0000 http://ben.crosslandteam.com/blog/2007/11/24/austin-rental-market-update-thru-oct-2007/#comment-1109 Cedar Park numbers look true. Can the price increase be considered as an ofset for the higher property taxes 07 vs 06 though ? Cedar Park numbers look true. Can the price increase be considered as an ofset for the higher property taxes 07 vs 06 though ?

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