Home address: 4308 Fox Trail Ln
2021 Taxable Value: $675,185
Recent Sales Price: $530,000– Over-taxed by 27%
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. Unequal appraisal appeals compare the level of assessment of your house to comparable houses, typically on a per square foot basis. 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.
Many owners do not protest because they do not understand the process. Most would appeal if they know how easy it is a high chance of success. Incorrect property data such as grade, effective year built, condition, etc lead to substantial errors in appraisal district values for houses. One reason appraisal districts are motivated to settle protests is to maintain goodwill with the community. 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.