Home address: 10906 Waterview Cir
2021 Taxable Value: $237,820
Recent Sales Price: $146,000 – Over-taxed by 63%
Half or more of Texas home owners are paying more than their fair share of property taxes. A market value appeal is based on the assessor’s value exceeding the market value of your home. Unequal appraisal is a powerful tool to reduce property taxes, but many homeowners are not aware of it and don’t use it. The majority who appeal their Texas property taxes are successful.
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. Most tax protests are settled at the informal level so appraisers can return to measuring and valuing new construction. Not appealing your property taxes annually is the equivalent of volunteering to pay extra property taxes.
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