Protesting Your Property Taxes
Posted by Lynnea Beale
Protesting Your Property Taxes
by Lynnea Beale
Homeowners should investigate the property appraisal amount on their home every year. If you, the homeowner, feel that the appraisal has been assessed too high, you can appeal, and save hundreds of dollars.
Market Value and Tax Value are completely two different things. Having a high market value is wonderful when selling your home, but having a low appraisal from your county is great when paying your taxes.
The tax value is determined by the looks of the exterior of your home and the recent sales in your area. They do not account for any additional work or updates that have been done to the interior of your home, nor do they account for any repairs that need to be done. So even though you my not have granite countertops or a stunning new masterbath...your homes value is as good as the recent sales in your neighborhood. Why should you pay top dollar on your property taxes especially when your home is the one in need of repair?
Your information regarding your appraisal can be viewed online at your county's appraisal district website. www.hcad.org (harris county) www.fbcad.org (fort bend county) www.mctx.org (montgomery county)...etc. You can see what others are paying in your area per square footage, etc. There is also infomation regarding exemptions. If you live in your home as a primary residence, you should file for a homestead exemption which can save you sometimes 20%. There are exemptions for disability, veteran, over 55, and surviving spouse. These are all ways to save on your property taxes.
Here is some advice if you are a new home buyer and this is your first go around with the appraisal district. When you first see that appraisal amount from the county...you think...WOW...I got a great deal. Our new home appraised for so much more than we paid for. Little do you know that it can raise your monthly mortgage payment tremendously! Your sales contract that you received at closing will be the best evidence of property value that you can bring because it was a recent sale. I would also print out other homes for sale that are similar to yours, any pictures of repairs that need to be done, and pictures of depressed homes in your area would also be useful.
If and when you would like to protest your taxes, filing an appeal is the first step. Once this is done, the appraisal district will send you all the necessary information and upcoming dates to appear. You will present all your information to a person first who has the abilty to lower your taxes before going in front of the board members. If this amount is not lowered enough for your satisfaction, you can request to be heard by the board members themselves. More information is always better. Being prepared usually means a successful result! Once you succeed, it means a years worth of lower taxes. Since they appraise your home annually, you may need to repeat this process every year.
Good Luck!
by Lynnea Beale
Homeowners should investigate the property appraisal amount on their home every year. If you, the homeowner, feel that the appraisal has been assessed too high, you can appeal, and save hundreds of dollars.
Market Value and Tax Value are completely two different things. Having a high market value is wonderful when selling your home, but having a low appraisal from your county is great when paying your taxes.
The tax value is determined by the looks of the exterior of your home and the recent sales in your area. They do not account for any additional work or updates that have been done to the interior of your home, nor do they account for any repairs that need to be done. So even though you my not have granite countertops or a stunning new masterbath...your homes value is as good as the recent sales in your neighborhood. Why should you pay top dollar on your property taxes especially when your home is the one in need of repair?
Your information regarding your appraisal can be viewed online at your county's appraisal district website. www.hcad.org (harris county) www.fbcad.org (fort bend county) www.mctx.org (montgomery county)...etc. You can see what others are paying in your area per square footage, etc. There is also infomation regarding exemptions. If you live in your home as a primary residence, you should file for a homestead exemption which can save you sometimes 20%. There are exemptions for disability, veteran, over 55, and surviving spouse. These are all ways to save on your property taxes.
Here is some advice if you are a new home buyer and this is your first go around with the appraisal district. When you first see that appraisal amount from the county...you think...WOW...I got a great deal. Our new home appraised for so much more than we paid for. Little do you know that it can raise your monthly mortgage payment tremendously! Your sales contract that you received at closing will be the best evidence of property value that you can bring because it was a recent sale. I would also print out other homes for sale that are similar to yours, any pictures of repairs that need to be done, and pictures of depressed homes in your area would also be useful.
If and when you would like to protest your taxes, filing an appeal is the first step. Once this is done, the appraisal district will send you all the necessary information and upcoming dates to appear. You will present all your information to a person first who has the abilty to lower your taxes before going in front of the board members. If this amount is not lowered enough for your satisfaction, you can request to be heard by the board members themselves. More information is always better. Being prepared usually means a successful result! Once you succeed, it means a years worth of lower taxes. Since they appraise your home annually, you may need to repeat this process every year.
Good Luck!
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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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