Home address: 2804 Klein Way
2021 Taxable Value: $372,953
Recent Sales Price: $298,000 – Over-taxed by 25%
Most homeowners who do not appeal annually pay excess property taxes. A market value appeal is based on the assessor’s value exceeding the market value of your home. Property owners can appeal both market value and unequal appraisal. Woody Allen said “80% of success is showing up”. The same is true of property taxes. If you file an appeal and attend the hearing, your chance of reducing your property taxes is excellent.
Owners are sometimes reluctant to protest property taxes due to a concern their value might be raised. This can’t and does not happen. Since 2019, neither the appraisal district or the appraisal review board can increase a property tax assessment during a protest. Appraisal districts use mass appraisal to value property, basically a math model. Overall results are OK. However, many homes are too high or low. 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. Not appealing your property taxes annually is the equivalent of volunteering to pay extra property taxes.
