Visitors from other states are sometimes shocked at the amount we in Texas pay in property taxes but we don't have state income taxes and we use property taxes to fund our schools. I'm all in favor of contributing to education but sometimes that tax bill pinches.
In Texas, the county appraisal district always seems to be behind in what is going on in the market and they don't have access to an MLS system. It usually takes them some time to catch on that the market has gone up and by the time they are reassessing the value of your home, it's starting to go down again.
This year I just had to protest. Williamson county appraised one of my properties for $30,000 more than I new it could sell for. Taxes are paid at the end of the year but assessed at the beginning so you do have time to protest but they want to see information on what your home value was January 1 which means you must find comparable sales from the previous year.
Because I'm a REALTOR® and do have access to MLS, I was able to put together a package of collateral material and successfully got the property value reduced by about $20,000. Whew!
If you think your proposed tax evaluation is out of line, consult your REALTOR®. Property sales prices in Texas are not public information so it would be hard for you to determine the market value with strong supporting data but your REALTOR® should be able to help.
Robin Scott, Broker. Certified Residential Specialist.
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