Does a Kitchen Remodeling Increase Property Tax in Houston
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You converted your dark basement into usable space by adding an entertainment area, a guest bedroom, and a three-quarter bath. Yay! The dream has come true. Additionally, the renovation will assist increase the value of your home.
However, the increased value from home upgrades may increase your property tax payment. You may be startled if you believe the tax assessor will go unnoticed.
Here’s how home modifications can result in an increase in property taxes and what you should do if you wish to contest your property tax assessment.
Enhancements Boost the Value of a Home
Property upgrades, depending on the job, can increase the resale value of your home. However, the property tax you pay depends on the value of your home. Suppose the assessed value of your property increases as a result of home renovations, even if the tax rate remains the same.
The Tax Assessor Observes the Enhancements
County tax assessors alternately referred to as county appraisers, keep track of the value of all real estate within a taxing district, such as a city or county. They keep databases of neighborhood property values frequently with sophisticated mapping technologies. Depending on the size and funding of a county, it may have a variety of procedures for detecting changes in the value of your home, including these four popular options. You can contact kitchen renovation Houston.
“If you enclosed your patio or porch, or constructed an entire room to the back without obtaining a permit, we would notice throughout these review cycles.”
Permits for Construction
Tax assessors keep an eye out for changes in home values caused by building and demolition permit applications.
Whether or not your permit catches the assessor’s eye is determined by the scope and cost of the project. However, he says, a homeowner that spends $5,000 or more on a basement remodel should anticipate a visit.
Neighbors Who Gossip
Neighbors occasionally alert assessors to illegal construction, typically due to a grievance or construction noise.
Comparable Sale Pricing
Even if the additional worth of your basement remodel or your neighbor’s bathroom upgrade is not obvious from the street, the increased value eventually shows up on your tax bill. How? Assessors keep track of home sales prices. They then reassess the tax values of nearby, comparable residences based on those sale prices. As neighbors update and sell their houses, the market value and tax assessment of your home will increase as well.
“Without a permit, we would have no way of knowing an individual’s exact improvements. However, the market value of the entire area fluctuates with time. As a result, the value is recognized on the tax roll in subsequent taxes,”
How to Resolve Property Tax Disagreements
If you disagree with a tax bill, you can appeal the assessed value of your home. You’ll need to demonstrate that the assessed value does not accurately reflect the underlying value of your property.
Compile comparable listings or ask a real estate agent to do so for you. Then contact the local assessor’s office to discover the procedure for filing a dispute. Assert that properties with comparable tax values are superior to yours. Begin by conducting a telephone or in-person discussion of your findings. If you are dissatisfied with the outcome, you may be entitled to appeal to an impartial tax appeals board. Does a kitchen remodeling increase property tax in Houston?
Does a New Roof Increase Property Tax
The majority of homeowners are primarily concerned with ensuring that their roof protects all of the important items beneath it. However, it is an excellent insulator. If you use some newer, high-tech roofing materials, the summer heat is reflected off the roof rather than absorbed, saving money (utility bills) and improving comfort.
While the roof serves an apparent useful purpose, a new roof looks fantastic, even if it is just new asphalt shingles. However, there are numerous options available, including real wood, which some homeowners believe is an unmatched natural beauty.
When home inspectors visit a house, they immediately evaluate the roof, as the condition of the roof plays a significant role in determining the home’s worth. For instance, a new or updated roof has been shown to provide a high return on investment because it significantly improves a home’s general “health.”
Suppose you’re selling your home and the roof requires repair. In that case, this can have a significant negative impact on the property’s appraised value, firmly placing it in the “fixer-upper” category and potentially killing the sale.
Are You in Desperate Need of a New Roof?
Roof replacement is no easy task. While professional roofers can enter and exit quite fast, they come at a cost. If your roof is regularly inspected and maintained, you should expect it to last 20 or more years. However, if your region has been subjected to extreme weather throughout the years, no amount of care will keep it from eventually requiring total replacement.
The following are some clear signs that your roof may require replacement:
- Granules resembling sand accumulate in your gutters
- Mold along the roof’s edge
- Shingles with dent
- Shingles went missing
- Flashing torn
- Daylight penetrating the attic
- Caulking that has dried out beneath the flashing
- On the interior of the home, blistered ceiling paint, and stains
The Advantages of Replacing Your Home’s Roof
It’s not just about the resale value; even if you’re not planning to sell, consider the increased energy efficiency. Indeed, energy efficiency is primarily why homeowners opt for a new roof.
Did you know that asphalt shingles can help your roof’s surface temperature drop by up to 50 degrees? This can assist in increasing the efficiency of your air conditioning. Additionally, you may qualify for tax benefits if you make these eco-friendly upgrades.
Another advantage of replacing your roof is that you’re installing a fresh layer of protection that protects everything beneath it secure and sound.
Roof Value in the Short vs. Long Term
A new roof’s short-term value is comparable to a new car’s. A new roof revitalizes a home, in a sense. It lends it a beautiful curb appeal. While the short-term value is appealing, roofs are built to last, and all homeowners want to get long-term value from a new roof. “Long” is a relative phrase, as “long” for asphalt will be somewhere in the neighborhood of 20 years. The term “long” refers to the lifespan of a slate roof, which can range between 75 and 200 years, depending on the quality of the slate (soft slate will last around 50 years).
To maximize the long-term value, have it inspected routinely to ensure that any essential repairs are made promptly.