Most homeowners across North Texas must have received mail from their counties regarding the appraised value of their properties. Home prices in the Dallas Fort-worth metroplex areas have high all time since 2007 which means that your appraised value would have increased.
Appraisers at the county use different tools and technique to assess the value of the property. In one occasion in Denton County, I did see a van with advanced camera’s that was taking pictures of the property. Keep in mind that State of Texas is a non-disclosure state i.e. a homeowner is NOT required to reveal the purchase price of the home to any government entities.
Now that you have seen the appraised value, I wanted to share few simple ways that you can file a protest that might help you reduce the appraised value. You can learn a lot about the process by visiting (https://comptroller.texas.gov/taxes/property-tax/)
#1 FILE THE PROTEST
Complete the protest form and send it to the county. For most counties, the deadline is May 31, 2017. County will mail you a date and time for you protest hearing.
#2 GET AN ESTIMATE
Get an estimated value of your property from a real-estate agent. We are Rocket Realty, are glad to send you comparable sale value of your property. Email us your property address and your email.
If you have evidence to support that your property is not worth the appraised value i.e. recent hail has damaged your roof, water leak resulting is flooring/ceiling damage, foundation issue etc., are possible causes that the county is likely to consider. To provide evidence, get an estimate from a contractor and take it along with you.
#3 VISIT COUNTY OFFICE
If you have time, visit the county office and review the appraised value along with the comparable from real estate agent. Many times, the county official will likely review and propose a reduction in the value. This can also be done on the date of your hearing. Be 30 minutes early to your protest hearing appointment allowing time for an informal discussion with the county officials.
#4 PROTEST HEARING
Referred as Arbitration Review Board (ARB), you can present the comparable value and discuss why the appraised value is higher. County officials will also present evidence to the ARB and a decision is made
There are many companies that can protest on your behalf. Most of these companies keep a certain percentage of the tax savings if they are successful with the county
For nearly 20 years, I have personally protested and successfully reduced appraised value for my property by simply following #3 VISIT COUNTY OFFICE. Good luck!