Home address: 5230 Shady Gardens Dr
2021 Tax Assessment: $202,902
Recent Sales Price: $114,000 – Over-taxed by 78%
Most homeowners who do not appeal annually pay excess property taxes. Most market value protests are successful, typically saving the owner hundreds or thousands of dollars. Unequal appraisal appeals compare the level of assessment of your house to comparable houses, typically on a per square foot basis. Winning a property tax protest is easy. Getting property owners to appeal is hard. Only 10% of Texan homeowners appeal their property taxes.
Property owners are sometimes reluctant to protest their property taxes because the believe the appeal process is difficult. It is not difficult and 60 to 80% of owners who appeal are successful. 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”. An appraisal is not an exact science and valuations are only an educated opinion of value, not a fact. Property owners have a duty and responsibility to appraisal property taxes annually. It is not prudent or reasonable to rely on the appraisal district’s estimate.
