View Single Post
Old 03-28-2012, 09:22 AM   #321
Clodfobble
UNDER CONDITIONAL MITIGATION
 
Join Date: Mar 2004
Location: Austin, TX
Posts: 20,012
I don't know about Virginia, but in Texas they're only allowed to raise your property taxes by a certain percentage each year, to help keep the established homeowners from being forced out during housing bubbles. But if you live in a place long enough, it'll still catch up with you in the end.

Our neighborhood was subject to part of the housing crash, and our house is currently still appraised at less than we paid for it (though not less than we actualy owe on it, fortunately,) but we like that because we know it'll go back up eventually, we have no intentions of moving, and in the meantime it means our property taxes are lower.
Clodfobble is offline   Reply With Quote