Home address: 870 Lost Gold Rd

 2021 Taxable Value: $93,380

 Recent Sales Price: $45,000   – Over-taxed by 108%

Property tax assessments not carefully reviewed lead to paying more than your share of property taxes. Appraisal districts are flexible on market value appeals given the large number of houses they value and that are protested. You can reduce your property taxes with an unequal appraisal appeal. 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 the believe the appeal process is difficult.  It is not difficult and 60 to 80% of owners who appeal are successful.  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 usually settle appeals at the informal hearing since it costs less and takes fewer resources. Property owners have a duty and responsibility to appraisal property taxes annually.  It is not prudent or reasonable to rely on the appraisal district’s estimate.