Home address: 3041 Creekwood Ln

2021 Taxable Value: $819,333

Recent Sales Price: $655,000 – Over-taxed by 25%

Property tax assessments not carefully reviewed lead to paying more than your share of property taxes. Either comparable sales or condition issues at your home are useful for a market value appeal of property taxes. The lower value stands when appealing market value and unequal appraisal.  Appeal both every year. Winning a property tax protest is easy.  Getting property owners to appeal is hard.  Only 10% of Texan homeowners appeal their property taxes.

Owners are sometimes reluctant to protest property taxes due to a concern their value might be raised.  This can’t and does not happen. Appraisal districts use the cost approach to value houses.  It is generally considered the least reliable method of appraisal. 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 appraise property taxes annually.  It is not prudent or reasonable to rely on the appraisal district’s estimate.