Texas Property Tax Trends

  Home address: 7931 Misty Frst 2021 Taxable Value: $231,670 Recent Sales Price: $126,000 – Over-taxed by 84% Property tax assessments not carefully reviewed lead to paying more than your share of property taxes. A market value appeal is based on the assessor’s value exceeding the market value of your home. Unequal appraisal appeals compare the level of assessment of your house to comparable houses, typically on a per square foot basis. Winning a property tax protest is easy.  Getting property owners to appeal is hard.  Only 10% of Texan homeowners appeal their property taxes. Many owners intended to appeal but the May 15th date slipped by with no appeal.  If you want to appeal and it is slipping your mind, consider a consultant. Appraisal districts use mass appraisal to value property, basically a math model.  Overall results are OK.  However, many homes are too high or low. Appraisal districts settle appeals at the informal level  to avoid the time c...

  Home address: 1103 S Tennessee St 2021 Taxable Value: $540,550 Recent Sales Price: $403,000 – Over-taxed by 34% Collin County homeowners are often unaware of the factors that cause them to pay extra taxes. A market value appeal is based on the assessor’s value exceeding the market value of your home. Unequal appraisal appeals compare the level of assessment of your house to comparable houses, typically on a per square foot basis. Woody Allen said “80% of success is showing up”.  The same is true of property taxes.  If you file an appeal and attend the hearing, your chance of reducing your property taxes is excellent. Property owners are sometimes reluctant to protest their property taxes because they believe the appeal process is difficult.  It is not difficult and 60 to 80% of owners who appeal are successful. Appraisal districts use the mass appraisal to value property, basically a math model.  Overall results are OK.  However, many homes are too high o...

  Home address:  4409 Brittany Dr 2021 Taxable Value:  $505,450 Recent Sales Price:  $290,000  – Over-taxed by 74% Dallas County property investors far too often pay excess property taxes. Protest market value, get a few comparable sales as evidence and you are very likely to reduce your property taxes. Unequal appraisal is a powerful tool to reduce property taxes, but many homeowners are not aware of it and don’t use it. It is difficult to persuade property owners to protest their property taxes.  But 60 to 80% of those who do are successful.  Many owners intended to appeal but the May 15 th  date slipped by with no appeal.  If you want to appeal and it is slipping your mind, consider a consultant. One reason it is difficult for appraisal districts to correctly value homes is they are not homogenous.  Some have been remodeled and some haven’t. Appraisal districts are receptive to settling property tax protests for houses at the informal...