Home address: 22027 Rivermead Dr
2021 Tax Assessment: $167,276
Recent Sales Price: $95,000 – Over-taxed by 76%
Property tax assessments not carefully reviewed lead to paying more than your share of property taxes. Most market value protests are successful, typically saving the owner hundreds or thousands of dollars. Unequal appraisal appeals are valid when the assessment is below market value. It is difficult to persuade property owners to protest their property taxes. But 60 to 80% of those who do are 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 mass appraisal to value property, basically a math model. Overall results are OK. However, many homes are too high or low. Appraisal districts are receptive to settling property tax protests for houses at the informal level because it has only a nominal impact on the total tax base. Not appealing your property taxes annually is the equivalent of volunteering to pay extra property taxes.
