Property tax appraisals for the current year's taxable values are issued in the spring in all counties. Here are a few tips to understand your statement and how to file a protest if you disagree with the value assigned to your property.
When you receive your Notice of Appraised Value:
Verify that the appraisal is for the correct property and make sure that any exemption you are eligible for (i.e. homestead, over 65, etc.) is included
If you believe the value assigned to your property is higher than what the market in your neighborhood would bear, you do have the option of protesting that value and asking the appraisal district to lower it, based on evidence provided. I personally recommend hiring a company like Five Stone or Ownwell to take care of this for you.
NOTE: Your local appraiser is required to appraise property at market value as of January 1st, so your appraisal should reflect the value of the property at that time. The appraiser has generally applied mass appraisal criteria based on the individual characteristics of your property, and in most cases has not done a physical inspection of your property.
How to Protest your Appraised Value:
Protest may be filed in writing or online and must be done by May 15th. If you don’t file a notice of protest before the Appraisal Review Board approves the appraisal record, you lose your right to protest or file a lawsuit about the taxable value of your property.
Provide information to support your protest. If it supports the value you are attempting to lower your appraisal to, you might provide your closing statement from your home purchase, any appraisals, engineer’s reports, etc. to the board when protesting your value. Photos of defects on the property are also helpful. We are happy to provide you with recent sales comps for homes in your area as well.
Who decides? The Appraisal district board (ARB) is an independent board of citizens that hears property owner protest. It has the power to order the Appraisal District to make changes. If you file a written protest before the deadline, your case will be scheduled for a hearing where you will talk to one or more members of the ARB. The ARB has several options: grant your request, refer you to a hearing of the entire board, schedule a physical inspection of your property, or deny your request. If you are denied, you have the option of filing a lawsuit against the Appraisal District.
Below are the links to various county Appraisal Districts. If you have any questions throughout this process or need assistance in filing your protest, please reach us at: [email protected]
As always, as your trusted real estate advisors, please let us know if there is anything we can help with or if you have any questions or concerns.
Gary & Michelle Dolch / Austin Luxury Group