Home address: 8540 Honea Egypt Rd

2021 Taxable Value: $707,700

Recent Sales Price: $450,000 – Over-taxed by 57%

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. Unequal appraisal appeals compare the level of assessment of your house to comparable houses, typically on a per square foot basis. 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. It is difficult for appraisal districts to accurately value houses due to limited staff. Appraisal districts usually settle appeals at the informal hearing since it costs less and takes fewer resources. Property owners who appeal annually rarely pay more than their fair share.