Home address: 27119 Seahorse Ln
2021 Taxable Value: $137,530
Recent Sales Price: $75,500 – Over-taxed by 82%
Most home owners 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 is a powerful tool to reduce property taxes, but many homeowners are not aware of it and don’t use it. Appraisal districts are generally very receptive to settling tax appeals at the informal hearing.
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. Property owners who appeal annually rarely pay more than their fair share.
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