Can I Get a Taxable Value Below My Recent Cost or Below Market?
Yes, it happens more than you would think. Texas’ Constitution prohibits discriminatory practices in assessing taxes. For example, suppose your recently purchased property is assessed at its purchase price but others in the subdivision are not affected. You may be appraised unequally even at market. (1) Conversely suppose a recent sale (or sales) in your neighborhood […]
What Are My Chances of Success:
What Are My Chances of Success:In recent years about 60% of the homeowners who protested their values obtained reductions. The others include many whose values were already at or below market – and therefore had no case to present to the Appraisal Review Board — and many who failed to appear at their scheduled hearings. […]
Property Tax Rates: A Primer and SB 2
Local taxing authorities (cities, counties, hospital districts, school districts) must publish certain information and schedule public hearings before approving a tax rate. Senate Bill 2 currently (Spring 2017) being debated in the Legislature will affect how that unfolds. Here’s a primer: Proposed Tax Rate: This is the rate taxing authorities estimate they need to cover […]
Property Tax Exemptions: What Am I Missing?
You qualify for the General Residential Exemption if (1) you owned the property on January 1; (2) you occupied it as your principal residence on January 1; and (3) you or your spouse have not claimed a residence homestead exemption on any other property.You qualify for the Over 65 Exemption if you are 65 years […]
Is a CMA from MLS Sufficient for an ARB Hearing?
Neighborhood, Class and Effective Age are criteria that resonate with the Appraisal Review Board. A Realtor’s Comparative Market Analysis (CMA) doesn’t recognize them the way the ARB does. Neighborhood Your neighborhood is one of the important elements considered in evaluating your property. It may or may not be the same as your subdivision or what […]
Three Things You Need to Know About Protesting
One. Owners who protest pay less than those who don’t. In DFW last year Appraisal Review Boards reduced the tax rolls by almost 10%. Did you get your share? Two: Those who use a professional do better than those who don’t. At Property Tax Protest we’ve been fighting taxes for thirty years for ourselves and […]
But I Live in a Tear Down!
A tear down can be a double whammy against you. Appraisal districts impute value to habitable improvements but buyers deduct for the cost of removing them.A tear down is usually a property where the land value exceeds the improvements value by a wide margin. For example, a Property Tax Protest client lived in a property […]
Why Is My Reduction Likely a “Two-fer”
Two Reasons: 1. The Property Tax Code provides that in the year following a successful protest the Chief Appraiser may not increase the market value of a homesteaded property without “substantial evidence.” This is a higher threshold than would apply without the prior year’s successful protest. Property Tax Protest uses this argument successfully; most protesters […]
Tarrant, We Have a Problem!
Ever since Tarrant Appraisal District implemented a new computer system in October 2014, problems have plagued the district, its taxpayers like you and its assessor/collectors who have lost money big time. Here’s a short history and what you can do to protect yourself.TAD implemented the new system for calendar 2015 and left hundreds of millions […]
Can the ARB Raise My Value?
Short answer is Yes. Longer answer is Rarely Happens.The ARB is the only authority that can raise a proposed (or “Notice”) market value after it’s published by the Chief Appraiser on or before May 1. In our experience it has happened only once and that was because our client misled us. Here’s what happened. Our […]
