Earlier this evening, I had dinner with Layna at Outback. It's the first time I've been to that restaurant in probably six years. Dave hates the place. He refuses to pay twenty plus bucks for dry steak. I had the grilled chicken with grilled veggies and wild rice. It was amazing! I loved it. I didn't touch the rice, though. Good thing, too, since Layna and I ended up having dessert. The portion sizes are huge, but a month or two ago, I wouldn't have noticed. I would have scarfed it down without a second thought. Needless to say, I have leftovers in the fridge for lunch tomorrow.
Now, onto the title...
So Dave and I received our tax assessment from the county. It was shocking. When we started building the house, it was valued at 119k. According to the tax dude (and dudettes, I'm sure,) the house is now worth 165k. OMGWTFBBQ?!?!?! 46k in ten months? That's nuts. The lot alone is worth 25k. For grass and shitty red clay dirt? Insane!
I'm happy that the value has increased. It's nice to have that equity, but this also means we really can't sell/move until the subdivision is finished. No one in their right mind is going to pay 165k for a house they can build for, I think, 130k now. (I haven't looked at the brochures in a few months.)
At the same time, I'm about to have a heart attack. We chose to escrow our taxes and home owner's insurance with our mortgage payment. It just makes things simpler. Of course, the taxes figured during closing are no where near what the taxes are now. We still have time to file our Homestead papers so that will put a 10% cap on the increase. I haven't done the math yet. Also, I have no idea if Chase will recalculate our escrow for the rest of this year. I'm so not looking forward to sitting on the phone all day with them. If we're going to be in the hole when taxes are due next year, I need to know now.
Man! This grown-up crap is soooooo annoying!
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