The season is upon us - let the tax protests begin! So the dreaded letter arrived; the good news, the market is up; the bad news, your local appraiser knows it!
So when your tax assessed value jumps the full 10%, what comes next? First don't panic, second review our helpful tips on determining if you should protest.
- Key things to keep in mind
- There are generally no costs in contesting your tax value (if you do so on your own),
- There is no separate penalty for protesting your taxes but not succeeding,
- Most counties allow for an "informal review" & even encourage such a review prior to an ARB (Appraisal Review Board) hearing,
- County procedures differ for the request of a review or protest (some allow mail or electronic methods, others require a scheduled appointment conducted in person),
- Like most "government" services, there is a processes that appears mush more complex than it actually is,
- Your fellow citizens & residents serve as part of the final Appraisal Review Board,
- You have a right to review the information that the appraisal office used in determining your value.
- Thoroughly review your Notice of Appraised Value
- Have you taken full advantage of tax exceptions for which you qualify (Homestead if owned before Jan 1st, Over 65, etc),
- Is the information on your appraisal about your home correct?,
- is the information on the CAD's (Central Appraisal District) website correct (bedrooms, SqFt, etc)
- Did your appraised value increase greater than 10%, if you have a homestead exemption & no new improvements.
- Understand what you can protest
- Proposed value,
- Denied exemptions for which you believe you qualify,
- Incorrect information regarding the scope or use of your property,
- Incorrect owner,
- Incorrect taxing units (authorities),
- Defects of the home or property that would otherwise affect the value.
- Understand how value is derived in Texas for the property tax assessed value
- Appraisers look for homes that sold closest to Jan 1st in the tax year assessed
- Homes that are closest in size, year built, location, age, & construction style are given the greatest weight.
- Be Prepared - Bring organized data whether you are meeting "informally" with an appraiser or for an ARB hearing
- If you purchased or refinanced your home recently (especially close to Jan 1st) and your tax assessed value exceeds your sales price, bring your signed HUD-1 &/or a copy of the appraisal conducted for your mortgage
- Bring Sales Comps for comparable properties (see 4.2) & include: address, sale date, sale price, supporting docs, names of owners, MLS information, etc.
- Proof of defects of your home, functional or economic obsolescence
- Know your Dates, Deadlines, & Procedures
- File on-time or you may miss your chance
- In most cases your protest must be filed by May 31st (*CHECK with your CAD!)
- READ YOUR COUNTY's PROTEST INFORMATION CAREFULLY - if you don't understand something, give them a call!
- Denton CAD (click for info)
- Dallas CAD (click for info)
- Collin CAD (click for info)
- Good Luck & please let me know if you have any questions - Christie Cannon
* Be sure to check with a qualified tax agent & your county's central appraisal district for specific procedures & questions.
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