Home address: 1310 Lakewood Dr

2021 Taxable Value: $503,169

Recent Sales Price: $400,000 – Over-taxed by 26%

Collin County homeowners are often unaware of the factors that cause them to pay extra taxes. Protest market value, get a few comparable sales as evidence and you are very likely to reduce your property taxes. Unequal appraisal is a powerful tool to reduce property taxes, but many homeowners are not aware of it and don’t use it. Appraisal districts are generally very receptive to settling tax appeals at the informal hearing.

Owners are sometimes reluctant to protest property taxes due to a concern their value might be raised.  This can’t and does not happen. Incorrect property data such as grade, effective year built, condition, etc lead to substantial errors in appraisal district values for 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 taxes are the largest tax most Texans face.  But it is a stealth tax hidden in the mortgage payment, disguising the size of property taxes paid.