Home address: 2502 Comburg Castle Way
2021 Tax Assessment: $543,523
Recent Sales Price: $365,000 – Over-taxed by 49%
Property tax assessments not carefully reviewed lead to paying more than your share of property taxes. Appraisal districts are flexible on market value appeals given the large number of houses they value and that are protested. Check the unequal appraisal box on the protest form, or your unequal appraisal appeal will be ignored. Woody Allen said “80% of success is showing up”. The same is true of property taxes. If you file an appeal and attend the hearing, your chance of reducing your property taxes is excellent.
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. Appraisal districts use the cost approach to value houses. It is generally considered the least reliable method of appraisal. Appraisal districts aggressively settle appeals since they have only 65 days to settle most of the appeals. Protest your property taxes on market value and unequal appraisal by May 15th annually. Protest even if you do not receive a value notice.