Home address: 1301 Lakeview Dr

2021 Taxable Value: $854,136

Recent Sales Price: $521,000 – Over-taxed by 64%

Collin County property investors far too often pay excess property taxes. Either comparable sales or condition issues at your home are useful for a market value appeal of property taxes. Check the unequal appraisal box on the protest form, or your unequal appraisal appeal will be ignored. Woody Allen said “80% of success is showing up”.  The same is true of property taxes.  If you file an appeal and attend the hearing, your chance of reducing your property taxes is excellent.

Property owners are sometimes reluctant to protest their property taxes because the believe the appeal process is difficult.  It is not difficult and 60 to 80% of owners who appeal are successful. Incorrect property data such as grade, effective year built, condition, etc lead to substantial errors in appraisal district values for houses. Most tax protests are settled at the informal level so appraisers can return to measuring and valuing new construction. 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.