Home address: 505 Lake Ridge Dr

2021 Taxable Value: $299,964

Recent Sales Price: $185,000 – Over-taxed by 62%

Collin County property investors far too often pay excess property taxes. A market value appeal is based on the assessor’s value exceeding the market value of your home. The lower value stands when appealing market value and unequal appraisal.  Appeal both every year. Appraisal districts are generally very receptive to settling tax appeals at the informal hearing.

Some property owners do not appeal due to a concern the appraisal district will want to inspect their house.  However, the appraisal district is MUCH too busy during the appeal season to even think about asking to inspect a property.  Assessors do not visit houses because of appeals. It is difficult for appraisal districts to accurately value homes since they rarely or never see the houses. Appraisal districts are willing to settle property tax appeals because they realize their values are not precise. Appraisal property taxes, yard work and HVAC check-ups are just a few of the responsibilities for homeowners.