Home address: 1124 Lewis St

2021 Tax Assessment: $94,680

Recent Sales Price: $75,000 – Over-taxed by 26%

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 appeal is easy to prepare. Just find neighborhood homes with a lower level of assessment (per square foot). Summarize the data in a table. Property tax appeals are often won with a smile and a bit of data.

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. Appraisal districts use the cost approach to value houses. It is generally considered the least reliable method of appraisal. Most tax protests are settled at the informal level so appraisers can return to measuring and valuing new construction. Protesting your property taxes annually is analogous to regularly changing the oil in your car. Preventative maintenance avoids serious problems.