Home address: 322 Canyon Ridge Dr

2021 Taxable Value: $537,216

Recent Sales Price: $367,500 – Over-taxed by 46%

Appraisal district errors in setting assessed values cause Collin County owners to pay extra 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 they believe the appeal process is difficult.  It is not difficult and 60 to 80% of owners who appeal are successful. 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. Protesting your property taxes annually is analogous to regularly changing the oil in your car.  Preventative maintenance avoids serious problems.