Friday, April 28, 2017

Successfully Protest Your Taxes

I'm a Texas Property Tax Arbitrator and would like to help you save money on your taxes with some professional advice about property tax protests.  Pay attention to your deadline to file date which is on your Notice of Appraised Value (mine is May 31, 2017).  I believe it is best not to be the first protest letter received by the County Appraisal District.  They seem more receptive after they've handled several other protests.

The Appraisal District cannot possibly appraise every house in their jurisdiction every year.  This, coupled with their mass-appraisal techniques (thousands of appraisals per hour by computer analysis models), may result in a tax market value on your property that is higher than the actual market. Market data from your neighborhood is the king.  The market approach most often used by real appraisers simply asks, "What are properties similar to your property selling for?"  The value of your home is an estimate of the price your home would sell for on January 1, 2017.  The appraisal district computer compares your home to similar homes the computer picks that have sold recently and determines your home's value.  It will not consider distress sales, foreclosures, or any the computer deems incomparable at their discretion. 


If you had damage or repairs that are needed from a hail storm; if your foundation needs repairs; your roof needs replacing; your carpet is worn; and the repairs were not made before 1/1/17, you should receive a dollar for dollar reduction off 1/1/17 market value. (Have available paid receipts if after 1/1/17 for work done that was needed last year, and contractor invoices, etc. for work still to be done).

If you have any questions about any of this, call or email me at RichardSkotak@remax.net ot 713-894-9410.  Coming on Monday - I'll offer you three tips for improving your protest results.