Home address: 503 Lottie St
2021 Tax Assessment: $33,760
Recent Sales Price: $26,000 – Over-taxed by 30%
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 a large number of houses they value and that are protested. Unequal appraisal appeals compare the level of assessment of your house to comparable houses, typically on a per square foot basis. The Texas Comptroller reports that 80% of 2019 property tax appeals by homeowners were successful.
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 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.
