I'm wondering after talking to someone whose home flooded. They are just now moving back in. They paid taxes for all these 8 mos on a severely damaged home. Are they going to give these people a real estate tax break?
Also, people are selling damaged homes at about 50% off normal pricing as people will have to make necessary repairs. If you pay $150k for what was a 300k home, how are the taxes levied in that case where market value is completely below normal??
The mold situations after rebuilding are because they used bleach and not an anti-fungal product which is a new way of killing mold. There was a lot of information out there about what products to use etc. But I guess if you don't have electricity or trying to get things done as cheaply as possible, this is what happens? Also there have been workers from out of the area who don't know how to deal with the things we have here in the South. So many people were scammed through all this!
The article in the paper today just made me angry. Investors coming in to buy these houses, either to rent or sale. Renters don?t have to be told it has flooded. New buyers and the investors are going to get flood insurance that tax payers will cover when claims are made. Just a vicious circle. City says the investors beat them buying some houses they wanted gone. Who is in charge of this mess.
It doesn't appear any tax breaks will be given. You may want to talk to the taxing authorities and HCAD if you flooded and see what remedies, if any, are available.
Also, people are selling damaged homes at about 50% off normal pricing as people will have to make necessary repairs. If you pay $150k for what was a 300k home, how are the taxes levied in that case where market value is completely below normal???
They are selling at discounted prices based on square footage and estimated repair costs. Market value is based on completion in these cases. No one is going to buy a gutted home and leave it that way. Our taxes are not based on market value but rather assessed value.
It's obvious that no one who has posted so far has been flooded. This rumor you posted that people are selling for 50% is fake news, unless the property is only a slab, or some elder person was taken advantage of. People are selling for above asking. Several recent articles say that in spite of flooding because of the housing shortage and material cost increases that prices are still going up. Property Taxes for the flooded only went down 15%. Since so much of Houston flooded, this somewhat takes away the sting and especially because much of our area was due to MAN CAUSED SJRA ignorant greedy choice they made.
Incidentally "Just now moving back in" can be due to a variety of issues such as the people rented while work was being done. It does not mean the house just sat there. You must not own property or care about your community to put this kind of stuff out there. The folks who did the remediation provide certificates stating the work was done, done properly and no mold was found. If a future buyer wants a mold free certificate, they can have the home inspected.