I am a millionaire..... whoopie!

texasSlick

texasSlick

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I got my tax assessment yesterday. According to Cherokee County, my house and land is valued at nearly $800,000.
Considering my liquid assets, Norton, and stock value, that puts my net worth over 1M.

Funny, I do not feel any different from the day before.

It's just Inflation in action.
 
texasSlick said:
I got my tax assessment yesterday. According to Cherokee County, my house and land is valued at nearly $800,000.
Considering my liquid assets, Norton, and stock value, that puts my net worth over 1M.

Funny, I do not feel any different from the day before.

It's just Inflation in action.
Click to expand...
Yeah, passed that milestone a while back when land prices here got Californicated.
 
Value of my house trends ever upward.
Wrong.
The price does go up but the value doesn't.
Good thing we will have an election on 4 July.
What a great set of choices to vote for.
Again, we are doomed.
 
Onder said:
Value of my house trends ever upward.
Wrong.
The price does go up but the value doesn't.
Good thing we will have an election on 4 July.
What a great set of choices to vote for.
Again, we are doomed.
Click to expand...
In Texas they passed a law that the state MUST increase property values by a MINIMUM of 10% every three years. Apart from that, they can increase it even more based on current market trends for like properties in your area.

Sickening.
 
grandpaul said:
In Texas they passed a law that the state MUST increase property values by a MINIMUM of 10% every three years. Apart from that, they can increase it even more based on current market trends for like properties in your area.

Sickening.
Click to expand...
That legislation is a disaster and a complete crock.
 
So the value of your savings has to increase by the same amount? Where is the logic?
 
Here in my state we get land valuation every 2 years and every time it goes up, I live on a small block of land and a small 3 bedroom house and my land valuation is over $430K just for the land, every time it goes up gives our local council reasons to increase our rates they charge, my house is 67 years old and is worth close to a $1million now and I don't feel like a millionaire at all, what does a $million get you these days, someone just won $150m the other night in powerball (lotto) one winner and he still went to work next day.
 
Onder said:
So the value of your savings has to increase by the same amount? Where is the logic?
Click to expand...
No, not necessarily the same amount, but NOT LESS than 10% every three years.

Cost of increasing bureaucracy.
 
I have a 5 acer lot titled separately to the land I live on. For that 5 acers I get one or two letters a month and one to three calls a week wanting to buy. This a rural area with subdivisions within two or three miles and land prices have gone crazy. Part of the problem is too many investors with too much money jacking up prices causing a shortage of property for working people to buy for a place to live.
 
Meh, who isn't? :) Kidding.

Congratulations on that milestone.

Home values are BS and could drop through the floor in a heartbeat. A developer built a house across the street and it's up for sale at $3.6 million. One would have to be nuts to buy it. Doesn't have a lake view. All it has is awesome neighbors like me. Not really. I'm fairly certain I am not considered awesome by anyone since the last dog we had passed.
 
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