I don't know what is more disheartening, the fact that people are being priced out of their homes, or the fact that Wylie's taxing authorities are eerily silent on what is taking place within their city.
Here is an example of recent statements from taxpayers in Wylie.
"I filed & was rejected- I am a single mom & can't take off work to go to the protest, that's going to put me in more of a financial bind- i see a lot of comments here, but what can we do about it?"Another.
"My payment went up almost 400 dollars a month due to taxes. Not to mention our insurance on our house got nearly a 700 dollar a year increase. We are moving because we are being priced out of our home."In response.
"Yeah ours went up that .Much as well.. and based on this year's appraisal it's gonna go up another 300. Ridiculous."And another.
"My appraisal went from $160K to $309K - How is that even possible!!!??"Though this seems extreme, our situation is similar when we compare our very first assessment in 2001, when we built this house, with where it stands now.
Bravo for us, that our property values are doing well in this state, but I feel that is really more of a reflection on foreign investors gobbling up properties for several years.
Texas has been the international version of Fixer Upper, where homes have been bought, fixed up and resold or rented out. The other issue North Texas is combating is the desire to bring headquarters in from other states, juxtaposed with the lack of housing on the market. Everybody and their brother, and his in-laws and their second cousin, twice removed want to live here it seems.
Meanwhile, developers are still cramming and jamming homes on every postage stamp-sized parcel they can, and the city's development activities are finally catching up with them, prodding property values along.
For those of us who bought our homes ages ago, we're going to make a killing when we sell. But it doesn't mean we'll be able to find something on the other side of the sales equation, so we are digging in.
The State of the City may look rosy, but the scarcity of homes for sale means bidding wars ensue, leaving us with the situation we are in. Our goes-outta is quickly trumping our goes-inta.
Property values have been both artificially and organically lifted, and greedy taxing entities have been sitting fat and happy while people didn't miss the siphoning. The end result - it is only now when pocketbooks are being ritually emptied, that people are taking notice. This situation had to lead somewhere.
Though the taxes aren't set in stone yet, as people have until May 31st to protest their property assessment with the Collin County Central Appraisal District, it seems eerily quiet around the city and school district.
At the end of the day, not much is going to change on the home front because our property values and taxes are still going to increase, and these homeowners will still be dealing with increasing monthly mortgage escrow payments and difficult decisions of moving or losing their homes.
Will someone please tell me this isn't the end result of living the "Wylie Way". Surely, our city and school leaders can do better than this.
Image credit: Movoto Foundation