Home address: 2118 N Fm 1486 Rd

2021 Taxable Value: $286,940

Recent Sales Price: $174,900 – Over-taxed by 65%

Most home owners 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. 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. Appraisal districts use the cost approach to value houses. It is generally considered the least reliable method of appraisal. Appraisal districts are receptive to settling property tax protests for houses at the informal level because it has only a nominal impact on the total tax base. Not appealing your property taxes annually is the equivalent of volunteering to pay extra property taxes.