Home address: 7803 Seminary Ridge Dr
2021 Tax Assessment: $540,172
Recent Sales Price: $365,000 – Over-taxed by 48%
Property tax assessments not carefully reviewed lead to paying more than your share of property taxes. Market value property tax appeals save homeowners an average of $500, according to Texas Comptroller Glen Hager, for 2019. 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.
Many owners intended to appeal but the May 15th date slipped by with no appeal. If you want to appeal and it is slipping your mind, consider a consultant. 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 settle appeals at the informal level to avoid the time consuming and expensive appraisal review board hearings. Protesting your property taxes annually is analogous to regularly changing the oil in your car. Preventative maintenance avoids serious problems.