Home address: 345 Bluebonnet Cir

2021 Tax Assessment: $285,930

Recent Sales Price: $225,000 – Over-taxed by 27%

Appraisal district errors in setting assessed values cause McLennan County owners to pay extra taxes. A market value appeal is based on the assessor’s value exceeding the market value of your home. An unequal appraisal is a powerful tool to reduce property taxes, but many homeowners are not aware of it and don’t use it. 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.

Some homeowners do not appeal property taxes because they are not aware of this right. You can and should protest both market value and unequal appraisal annually. It is not difficult and 60 to 80% of owners who appeal are successful. Appraisal districts use the cost approach to value houses. It is generally considered the least reliable method of appraisal. Tax protests are resolved at the informal hearing since the result is within a “reasonable range of value”.  An appraisal is not an exact science and valuations are only an educated opinion of value, not a fact. Appraisal property taxes, yard work, and HVAC check-ups are just a few of the responsibilities for homeowners.