Home address: 67 Lake Estates Dr

2021 Taxable Value: $1,015,250                                                                       

Recent Sales Price: $800,000 – Over-taxed by 27%

Appraisal district errors in setting assessed values cause Montgomery County owners to pay extra taxes. A market value appeal is based on the assessor’s value exceeding the market value of your home. An unequal appraisal appeal is easy to prepare.  Just find neighborhood homes with a lower level of assessment (per square foot).  Summarize the data in a table. Appraisal districts are generally very receptive to settling tax appeals at the informal hearing. 

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. 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. Protect your home by appealing property taxes annually.