Home address: 1005 N Main
2021 Tax Assessment: $118,300
Recent Sales Price: $90,238 – Over-taxed by 31%
While most Texas homeowners pay extra property taxes, there are several simple steps you can take to limit your tax bill. Appraisal districts are flexible on market value appeals given a large number of houses they value and that are protested. 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. 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.
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 a mass appraisal to value property, basically a math model. Overall results are OK. However, many homes are too high or low. 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. Property taxes are the largest tax most Texans face. But it is a stealth tax hidden in the mortgage payment, disguising the size of property taxes paid.
