Why Protest Each Year?
/
Are your property taxes too high? Are you paying more and more each year?
Let Texas Tax Protest show you how appealing your value each year helps keep more money in your pockets.
Annually, county appraisal districts send homeowners a notice of appraised value. This is the starting value at which property taxes will be based for the current year.
How do appraisal districts determine this value? The value is based on the appraisal districts review of the following:
Market Changes: If real-estate values are increasing or decreasing
Property Condition: If your property has been remodeled or damaged and
Property Changes: If there are major improvements such as an addition or added swimming pool
Value notices arrive in April and May. Property owners who think that they have been over assessed by the County can file an appeal to fight for a fair valuation. You only have until May 15th or 30 days from your notice date to file an appeal so you must act fast.
The smartest property owners appeal every year to keep their valuation fair and taxes low. In fact, protesting each year can compound your tax savings and keep a large sum of money in your pocket.
Let’s look at this real-world example with neighbors Einstein and Gomer. Each year, Einstein is smart and hires Texas Tax Protest to appeal his assessment. While Gomer does not appeal at all.
Over the past three years, Einstein saved $1,640 in taxes and Gomer continued to overpay.
Einstein and Gomer‘s homes were built by the same builder, are the same size, and were both noticed in the first year at $400,000 by the County Appraisal District.
By appealing, Einstein was able to reduce his assessed value to $388,000 which was a tax savings of $300. Gomer did not appeal his value and had no tax savings.
The second year, Einstein and Gomer received their notice of appraised value and their homes were increased by 5%. Einstein’s home was valued at $407,500 while Gomer (who did not appeal the prior year) had sticker shock when his home was valued at $420,000.
Einstein appealed once again and was able to reduce his value to $400,000. Pocketing a second year of tax savings, this time $185. Gomer did not appeal and he paid $500 more in taxes in year two.
In year three the county increased home values by 8%. Einstein’s new value was $432,000 while Gomer’s new value was $453,600. Einstein once again successfully appealed and reduced his assessment to $420,000. A tax savings of $300. Guess what? Gomer goofed again and did not appeal. He paid $840 more in property taxes. Ouch!
Looking at a 3 year recap:
Einstein appealed each year and kept $1,640 in his pocket. Money that would have gone to the property tax collector. During the same time period, Gomer didn’t protest and paid $2,900 MORE in taxes than Einstein.
Be smart like Einstein and keep money in your pocket by appealing each year.
At Texas Tax Protest, we do the heavy lifting for you and help our clients just like Einstein.
For more information go to our website, www.TexasTaxProtest.com