Home address: 7 Redland Pl

2021 Taxable Value: $407,390

Recent Sales Price: $275,000 – Over-taxed by 48%

Property tax assessments not carefully reviewed lead to paying more than your share of property taxes. One option to reduce your property taxes is to protest the market value. The lower value stands when appealing market value and unequal appraisal. Appeal both every year. It is difficult to persuade property owners to protest their property taxes. But 60 to 80% of those who do are successful.

Many owners do not protest because they do not understand the process. Most would appeal if they know how easy it is the high chance of success. One reason it is difficult for appraisal districts to correctly value homes is they are not homogenous. Some have been remodeled and some haven’t. Appraisal districts usually settle appeals at the informal hearing since it costs less and takes fewer resources. 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.