Home address: 5102 Spanish Oaks

2021 Taxable Value: $1,321,980

Recent Sales Price: $928,000 – Over-taxed by 42%

Collin County homeowners are often unaware of the factors that cause them to pay extra taxes. Protesting the appraisal district’s market value usually reduces your property taxes. An unequal appraisal appeal is easy to prepare.  Just find neighborhood homes with a lower level of assessment (per square foot).  Summarize the data in a table. Winning a property tax protest is easy.  Getting property owners to appeal is hard.  Only 10% of Texan homeowners appeal their property taxes.

Many owners do not protest because they do not understand the process.  Most would appeal if they know how easy it is a high chance of success. It is difficult for appraisal districts to accurately value homes since they rarely or never see the houses. Appraisal districts are receptive to settling property tax protests for houses at the informal level because it has only a nominal impact on the total tax base. Property owners have a duty and responsibility to appraisal property taxes annually.  It is not prudent or reasonable to rely on the appraisal district’s estimate.