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.
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Buying or selling? Hire an experienced professional. Call Robin Scott, Broker at 512.589.7988.
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