Home address: 512 W Main St

2021 Taxable Value: $373,427

Recent Sales Price: $229,000 – Over-taxed by 63%

Collin County homeowners are often unaware of the factors that cause them to pay extra taxes. Market value property tax appeals save home owners an average of $500, according to Texas Comptroller Glen Hager, for 2019. Unequal appraisal appeals compare the level of assessment of your house to comparable houses, typically on a per square foot basis. The Texas Comptroller reports 80% of 2019 property tax appeals by homeowners were successful.

Many owners do not protest because they do not understand the process.  Most would appeal if they know how easy it is the high chance of success. Appraisal districts use mass appraisal to value property, basically a math model.  Overall results are OK.  However, many homes are too high or low. 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.