Protesting Property Taxes

It seems as though the county tax appraisers are usually behind the curve when property values start declining. As this has been the case, it's important to make sure that you are not being taxed for more than you home is valued. In April, you should receive notices from the county appraiser with an assigned value to your home. If you believe the value to be high, you should protest.
In Texas, taxes are paid in arrears. In other words, you will pay your property taxes for 2009 at the end of the year. However, since the taxes are for 2009, the appraiser is only interested in the value of your home on January 1.

The best way to determine the value of your home on January 1 is to ask your REALTOR for help. In Texas, sold prices are not public information and very hard for the average consumer or even the tax appraiser to obtain but REALTORS do have access to this information through the MLS and can prepare a comparative market analysis for you to take to the protest.

When you receive your notice of valuation from the tax appraiser, you will also receive information on how to protest this evaluation. Basically, you file a protest, they will send you a notice to make an appointment to discuss your homes value with an appraiser, you will meet with an appraiser and remember to take your comparative market information with you.

Hopefully, you will be able to resolve the conflict at this meeting but if you cannot achieve a satisfactory agreement to reduce the valuation of the home you may request to appear before the Appraisal Review Board to protest further.

Be conscience of the deadline, good luck and let me know if you need anything.

And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.

Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.

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Property Tax Appraisal District Calendar

Since the valuation of your home by the county tax appraiser will effect the cost of owning your home, it's important to know what's going on. Below is the schedule of events for Travis County Appraisal District:

Jan1 - All residential properties are appraised according to their value on Jan1.

January - March - County appraisers analyze the market and determine a value of every home in Travis county

Early April - The appraisal districts mails to homeowners notices of determined home value with information on how to protest.

April - May - Homeowners may file protests with the Appraisal Review Board.

June 1 - deadline for protest requests

July 27 - The appraisal district provides information on property values for each area

August - September - Cities, school districts and other tax districts like MUDs and PUDs set their tax rates.

September 29 - Tax rates are finalized

October 1 - The tax assessor mails the tax bill

The Benefits of Homeownership

Often I have a conversation with home buyers about the return on their money related to homeownership and it's such an important computation for prospective homeowners to understand so here is some valuable information to help you determine if buying a home is a good investment.

According to the National Association of REALTORS a homes value appreciation average 4.5% annually.

That's sounds like an acceptable rate of return but it gets even better. Since you are unlikely to be paying cash for your home the actual investment is the amount of money you invest (your downpayment.) To explain in simplified terms let's say the house cost $100,000 and you put down $10,000. In an average year, your home has appreciated to $104,500 but that's not of a $100,000 investment. That's of a $10,000 investment. In other words, in one year your $10,000 has grown to $14,500!

Just as important is the tax savings. Your mortgage payment is made of principal, interest, taxes and insurance (PITI.) Of that payment, the interest and taxes (which represents most of your payment) are deductible from you income tax providing you with a great tax deduction.

Buy a home, enjoy living in it and enjoy the financial benefits. Call me today to get started! 512.589.7988.

And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.

Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.

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Austins Traffic Report

Austin is such a great place to live and I usually hear people raving about all the wonderful amenities Austin offers. Occasionally I'm asked what people complain about and there is only one thing - traffic.

It was no surprise to me to read that according to the Texas Transportation Institutes biannual Urban Mobility Report, Austin ranks highest in traffic congestion of all Texas cities with a population less than one million with reports of 70 cars a day being added to the roadways.

Below are traffic statistics from the US Census Bureaus 2007 American Community Survey:
85% of Austinites drive to work in a car, truck or van
72% drive alone
13% carpool
5% use public transportation
5% work at home
3% use taxi, motorcycle, bicycle or other means
2% walk

And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.

Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.

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Another Successful Closing - Sold in Pflugerville

Hooray! Another successful closing. I was the second REALTOR to represent this seller and I'm happy to say it is no longer available because it is SOLD. In Pflugerville, a 4/2.5/2 with 2 living and 2 dining and an asking price of $154,900 which I had listed for 97 days.

Lead-Based Paint and Your Home

Prior to 1978, latex paint didn't exist and we didn't know that lead-based paint was hazardous to your health. Now that we know, any home built before 1978 must disclose upon sale the possibility of lead-based paint.

The federal government has made it all very easy for us by providing an Addendum for Seller's Disclosure of Information on Lead-based Paint which must be signed by the buyer and seller previous to the sales contract and the pamphlet Protect Your Family From Lead in Your Home published by the EPA which explains how lead can get into your body, what harm it causes and how to protect yourself.

Also, if you are considering renovating a home that was built before 1978 there is a publication Renovate Right to help you avoid any harmful mistakes.
Be sure you understand the risks and preventative measures you can take if you live in or considering purchasing a home built before 1978.

And, I want to be your REALTOR®! If there is any information you would like regarding relocating to the Austin area, let me know. You can contact me at robin@robinscottrealtor.com, 512.589.7988 or just comment on this blog entry.

Search for homes through Austin MLS
Find your home's value
Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.

Like us on facebook!