christie cannon keller williams frisco tx

The season is upon us - let the tax protests begin!  So the dreaded letter arrived; the good news, the market is up; the bad news, your local appraiser knows it!

So when your tax assessed value jumps the full 10%, what comes next?  First don't panic, second review our helpful tips on determining if you should protest.

  1. Key things to keep in mind
    1. There are generally no costs in contesting your tax value (if you do so on your own), 
    2. There is no separate penalty for protesting your taxes but not succeeding,
    3. Most counties allow for an "informal review" & even encourage such a review prior to an ARB (Appraisal Review Board) hearing,
    4. County procedures differ for the request of a review or protest (some allow mail or electronic methods, others require a scheduled appointment conducted in person),
    5. Like most "government" services, there is a processes that appears mush more complex than it actually is,
    6. Your fellow citizens & residents serve as part of the final Appraisal Review Board,
    7. You have a right to review the information that the appraisal office used in determining your value.
  2. Thoroughly review your Notice of Appraised Value
    1. Have you taken full advantage of tax exceptions for which you qualify (Homestead if owned before Jan 1st, Over 65, etc),
    2. Is the information on your appraisal about your home correct?,
    3. is the information on the CAD's (Central Appraisal District) website correct (bedrooms, SqFt, etc)
    4. Did your appraised value increase greater than 10%, if you have a homestead exemption & no new improvements.
  3. Understand what you can protest
    1. Proposed value,
    2. Denied exemptions for which you believe you qualify,
    3. Incorrect information regarding the scope or use of your property,
    4. Incorrect owner,
    5. Incorrect taxing units (authorities),
    6. Defects of the home or property that would otherwise affect the value.
  4. Understand how value is derived in Texas for the property tax assessed value
    1. Appraisers look for homes that sold closest to Jan 1st in the tax year assessed
    2. Homes that are closest in size, year built, location, age, & construction style are given the greatest weight.
  5. Be Prepared - Bring organized data whether you are meeting "informally" with an appraiser or for an ARB hearing
    1. If you purchased or refinanced your home recently (especially close to Jan 1st) and your tax assessed value exceeds your sales price, bring your signed HUD-1 &/or a copy of the appraisal conducted for your mortgage
    2. Bring Sales Comps for comparable properties (see 4.2) & include: address, sale date, sale price, supporting docs, names of owners, MLS information, etc.
    3. Proof of defects of your home, functional or economic obsolescence
  6. Know your Dates, Deadlines, & Procedures
    1. File on-time or you may miss your chance
    2. In most cases your protest must be filed by May 31st (*CHECK with your CAD!)
  7. READ YOUR COUNTY's PROTEST INFORMATION CAREFULLY - if you don't understand something, give them a call!
    1. Denton CAD (click for info)
    2. Dallas CAD (click for info)
    3. Collin CAD (click for info)

 - Good Luck & please let me know if you have any questions - Christie Cannon

* Be sure to check with a qualified tax agent & your county's central appraisal district for specific procedures & questions.