Home address: 5321 Grove Cove Dr

2021 Taxable Value: $419,401

Recent Sales Price: $332,500 – Over-taxed by 26%

Collin county property investors far too often pay excess property taxes. Protest market value, get a few comparable sales as evidence and you are very likely to reduce your property taxes. An unequal appraisal appeal is easy to prepare. Just find neighborhood homes with a lower level of assessment (per square foot). Summarize the data in a table. The majority who appeal their Texas property taxes are successful. Appraisal districts use the cost approach to value houses. It is generally considered the least reliable method of appraisal. 

Appraisal districts are willing to settle property tax appeals because they realize their values are not precise. Appraisal districts aggressively settle appeals since they have only 65 days to settle most of the appeals. Property taxes are the largest tax most Texans face.  But it is a stealth tax hidden in the mortgage payment, disguising the size of property taxes paid. 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.