If the capped value of your property is less than the market value. There are still several reasons why you should consider protesting:

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• Capped value can still be high: Even if your property's capped value is lower than its market value, it is still possible that the capped value is higher than it should be. This could be due to errors in the appraisal or other factors.
• If as a result of the protest the market value reduction is to a value lower than  the capped value, then the cap will disappear and you will have saved money in the year of the protest.
• If as a result of the protest the market value reduction is to a value higher than the capped value, then your savings will be deferred to a future year (and your fee to Property Tax Protest will be reduced by half to 0.5%) 

• Future increases: If you don't protest and your property's market value continues to increase, your capped value will also increase by 10% each year until it reaches your market value.  By controlling market value now you reduce future increases in your capped value.
• Fairness: Even if your capped value is currently lower than your market value, you may still feel that the assessment is unfair or inaccurate. By protesting, you can make sure that your assessment is as accurate and fair as possible.  

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Keep in mind that the process for protesting your property tax assessment can be complex, so you may want to consider working with a tax professional or a property tax consultant to help you through the process. Tax professionals like Property Tax Protest have a higher success rate than owners who represent themselves.