Emma Posted September 29, 2021 Share Posted September 29, 2021 Let's say you buy a 2 bedroom, 1 bathroom house and want to make it into a 3 bedroom, 2 bathroom house. Would this effect the overall cost of the property tax? If so, how much would it go up? Is there a fixed percentage? I am asking for a friend of mine. 1 Quote Link to comment Share on other sites More sharing options...
James Posted September 29, 2021 Share Posted September 29, 2021 Property taxes are based off the value of the property. So the land value plus the structures that get built on it. There are no fixed percentages to figure it out as its all based off of current value when an assessment is made. The county likely updates their assessments every 1 - 5 years or during change of ownership. It does seem when property taxes do go up you can expect a 3-6% increase but you really can not budget off that as it really depends on what the local real estate marketing is doing. Quote Link to comment Share on other sites More sharing options...
Ella Posted September 30, 2021 Share Posted September 30, 2021 Anything that adds value to the property will cause an increase. Built-in pools, sun rooms, additional living spaces, extra bathrooms, finishing a basement, etc. As James said, there is no way to actually track this or know how much it will increase because it depends on your county and district in your state. 1 Quote Link to comment Share on other sites More sharing options...
Sophia Posted October 2, 2021 Share Posted October 2, 2021 I always thought that pools devalue homes? I mean this is what I was told. Unless this is only referring to above ground pools? I really do hate property taxes. 1 Quote Link to comment Share on other sites More sharing options...
James Posted October 11, 2021 Share Posted October 11, 2021 On 10/1/2021 at 6:41 PM, Sophia said: I always thought that pools devalue homes? I mean this is what I was told. Unless this is only referring to above ground pools? I really do hate property taxes. Where we live in Phoenix area I am sure the people buying their personal residences value the pool. I do not value pools when I am thinking about investment property but for our personal residence it is nice to have. The house we live in now we said we were not going to buy another home with a pool but then in the end we decided that would be a poor choice. The kids love the pool and it really does help keep them active. Quote Link to comment Share on other sites More sharing options...
Scarlett Posted October 20, 2021 Share Posted October 20, 2021 On 10/11/2021 at 2:05 PM, James said: Where we live in Phoenix area I am sure the people buying their personal residences value the pool. I do not value pools when I am thinking about investment property but for our personal residence it is nice to have. The house we live in now we said we were not going to buy another home with a pool but then in the end we decided that would be a poor choice. The kids love the pool and it really does help keep them active. I am trying to find a house with a pool when I start looking. We get all 4 seasons here so I would only be able to make use of it from June until September but I feel like it is worth it just to have something to do in the summer that keeps me active. I am sure it helps your kids lead a healthier lifestyle. I grew up with one and I know it kept me in shape! 1 Quote Link to comment Share on other sites More sharing options...
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