Apple coming to RTP

[moonpie23]

Apple announces new crib, and 3000 new jobs.

[bundabergdevil]

Apple announces new crib, and 3000 new jobs.

Tim just wants more convenient access to Cameron. 😃

[moonpie23]

this is a huge get for NC

[howardlander]

this is a huge get for NC

Well, it's a huge get for my property value anyway... In all seriousness, I am starting to worry about the pace of development in the Triangle. Probably should have started worrying 10 years ago, but things are really moving now.

Howard

[aimo]

Well, it's a huge get for my property value anyway... In all seriousness, I am starting to worry about the pace of development in the Triangle. Probably should have started worrying 10 years ago, but things are really moving now.

Howard

I live two miles from RTP. My property value (and therefore taxes) just shot up. They're only coming b/c Google is, too. Copy cats.

[CrazyNotCrazie]

I live two miles from RTP. My property value (and therefore taxes) just shot up. They're only coming b/c Google is, too. Copy cats.

There are a lot of factors that go into it, but if your assessed value goes up but everyone else's does also, your taxes generally shouldn't go up, at least not a lot. If the operating budget is $100 million and everyone's property value goes up 20%, you still pay the same share of the $100 million. There is a lot of nuance to this and every state's laws are a bit different, but that is a general rule of thumb.

And if you live in the same taxing district as this new development, it should help to lower your taxes once its tax breaks start rolling off (assuming that to lure the business the city didn't promise to spend millions of its own money on infrastructure, which is a big if). And the development of ancillary businesses nearby to support it (gas stations, delis, etc) should also help to lower your tax burden.

[Acymetric]

Well, it's a huge get for my property value anyway... In all seriousness, I am starting to worry about the pace of development in the Triangle. Probably should have started worrying 10 years ago, but things are really moving now.

Howard

I probably missed the boat on buying a house here. 5 years from now I'll probably be lucky if I can find anything reasonably priced on the other side of Knightdale.

[LasVegas]

I probably missed the boat on buying a house here. 5 years from now I'll probably be lucky if I can find anything reasonably priced on the other side of Knightdale.

I’ll be buying a house in the Triangle within the next couple months. It’s competitive and homes are quickly rising in price. My realtor says we need to be about 20k over asking for our offer right now.

[howardlander]

There are a lot of factors that go into it, but if your assessed value goes up but everyone else's does also, your taxes generally shouldn't go up, at least not a lot. If the operating budget is $100 million and everyone's property value goes up 20%, you still pay the same share of the $100 million. There is a lot of nuance to this and every state's laws are a bit different, but that is a general rule of thumb.

I like your theory, but it's not actually what happened in Durham County at least. Our house got re-appraised and our taxes went up about 20 percent. I'm not really complaining, I prefer Durham County to most of the real tax havens, such as Somalia or Florida, but they did claim the appraisal was going the be revenue neutral. We live in the County north of town, so you'd think our price appreciation would be less, and I think it probably has been, but prices even out here are going up about 20% per year.

Howard

[aimo]

I like your theory, but it's not actually what happened in Durham County at least. Our house got re-appraised and our taxes went up about 20 percent. I'm not really complaining, I prefer Durham County to most of the real tax havens, such as Somalia or Florida, but they did claim the appraisal was going the be revenue neutral. We live in the County north of town, so you'd think our price appreciation would be less, and I think it probably has been, but prices even out here are going up about 20% per year.

Howard

This! Except I am complaining. And they keep taking away services "in lieu of" raising taxes any more than they already are.

[budwom]

I remember when the concept of the Research Triangle Park was just beginning to gain a wee bit of steam. At the time, it seemed preposterous that it would ever grow to its current size...those were the days before I-40 (aka North Carolina's largest rush hour parking lot).

[howardlander]

I probably missed the boat on buying a house here. 5 years from now I'll probably be lucky if I can find anything reasonably priced on the other side of Knightdale.

Depending on where you work, you might want to look in Durham County. Despite my comments in the previous post, houses are still cheaper here then they are in any of the local cities. I don't follow any of the other areas, but I know prices near downtown Durham are ridiculously high. I think you can still get a pretty nice place for 400K out here, but I don't think you want to wait too long. Of course it's not like 400K is cheap...

[Acymetric]

Depending on where you work, you might want to look in Durham County. Despite my comments in the previous post, houses are still cheaper here then they are in any of the local cities. I don't follow any of the other areas, but I know prices near downtown Durham are ridiculously high. I think you can still get a pretty nice place for 400K out here, but I don't think you want to wait too long. Of course it's not like 400K is cheap...

Living in the outside the city limits in Durham would also probably make my commute to my current job (North Raleigh) a fairly unpleasant one. The sticker shock is especially drastic for me because I grew up in Durham so I remember what those houses were selling for 20-25 years ago.

[howardlander]

This! Except I am complaining. And they keep taking away services "in lieu of" raising taxes any more than they already are.

Well, we never had any services for them to take away! We are on well and septic (which I frankly prefer) and we pay an independent contractor to come take our garbage. I guess the county does do the recycling, and of course much of the budget is for the local schools, such as they are.

[howardlander]

Living in the outside the city limits in Durham would also probably make my commute to my current job (North Raleigh) a fairly unpleasant one. The sticker shock is especially drastic for me because I grew up in Durham so I remember what those houses were selling for 20-25 years ago.

Depending on where you buy, and where you have to go the new connector they are building might help. It allows you to go from I85 to the Durham Freeway near RTP. They are also upgrading large chunks of 70. But yeah, that could be, by NC standards, an ugly commute.

[DU82]

I remember when the concept of the Research Triangle Park was just beginning to gain a wee bit of steam. At the time, it seemed preposterous that it would ever grow to its current size...those were the days before I-40 (aka North Carolina's largest rush hour parking lot).

Nah, that’s still I-77 in Charlotte. But I-40 just east of Page Road is the highest volume road segment in the state (pre-COVID.)

[Acymetric]

Nah, that’s still I-77 in Charlotte. But I-40 just east of Page Road is the highest volume road segment in the state (pre-COVID.)

I certainly used to do my part there!

[OZZIE4DUKE]

Living in the outside the city limits in Durham would also probably make my commute to my current job (North Raleigh) a fairly unpleasant one. The sticker shock is especially drastic for me because I grew up in Durham so I remember what those houses were selling for 20-25 years ago.

Depending on where you buy, and where you have to go the new connector they are building might help. It allows you to go from I85 to the Durham Freeway near RTP. They are also upgrading large chunks of 70. But yeah, that could be, by NC standards, an ugly commute.

Ha! When I moved from Winston Salem to the Raleigh area in the fall of 1979, we moved to Smithfield, in Johnston County, 45 minute drive from Raleigh on the back roads because there was no complete Raleigh Beltline (I-400 now) and no I-40. Why? Well interest rates had just gone from 9% to 15% and housing costs were 25% less in Smithfield than in Raleigh. Just contemplate what a 15% interest rate would do to your house payment!

I'm glad I live in Greensboro now, where a bad traffic day is a 2 light cycle delay on Battleground Avenue!

Both houses are 61 miles from parking at Duke from games, just in opposite directions!

[jv001]

Ha! When I moved from Winston Salem to the Raleigh area in the fall of 1979, we moved to Smithfield, in Johnston County, 45 minute drive from Raleigh on the back roads because there was no complete Raleigh Beltline (I-400 now) and no I-40. Why? Well interest rates had just gone from 9% to 15% and housing costs were 25% less in Smithfield than in Raleigh. Just contemplate what a 15% interest rate would do to your house payment!

I'm glad I live in Greensboro now, where a bad traffic day is a 2 light cycle delay on Battleground Avenue!

Both houses are 61 miles from parking at Duke from games, just in opposite directions!

I used to travel Battleground Ave/Hwy 220 a lot. Living in Mayodan, NC that was the quickest route.

GoDuke!

[aimo]

I remember when the concept of the Research Triangle Park was just beginning to gain a wee bit of steam. At the time, it seemed preposterous that it would ever grow to its current size...those were the days before I-40 (aka North Carolina's largest rush hour parking lot).

RTP was started around 1962. I-40 did not come to RTP until 30 years later. And it did NOTHING to help traffic.