Home address: 7024 Corsicana St
2021 Tax Assessment: $163,165
Recent Sales Price: $90,000 – Over-taxed by 81%
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. 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. Property tax appeals are often won with a smile and a bit of data.
Some homeowners believe “you can’t fight city hall.” But property owners win 60 to 80% of property tax appeals. Incorrect property data such as grade, effective year built, condition, etc lead to substantial errors in appraisal district values for houses. 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. 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.
