Home address: 5016 Sundown Dr

2021 Taxable Value: $321,525

Recent Sales Price: $215,000 – Over-taxed by 50%

Collin County home owners are often unaware of the factors that cause them to pay extra taxes. Market value property tax appeals save home owners an average of $500, according to Texas Comptroller Glen Hager, for 2019. Property owners can appeal both market value and unequal appraisal. The Texas Comptroller reports 80% of 2019 property tax appeals by home owners were successful.

Many owners do not protest because they do not understand the process.  Most would appeal if they know how easy it is the high chance of success. Appraisal districts use the cost approach to value houses.  It is generally considered the least reliable method of appraisal. Tax protests are resolved at the informal hearing since the result is within a “reasonable range of value”.  Appraisal is not an exact science and valuations are only an educated opinion of value, not a fact. Protest your property taxes on market value and unequal appraisal by May 15th annually.  Protest even if you do not receive a value notice.