All property owners have the right to object to the appraised value of their property and then appeal it. Property owners must file a notice of protest with the city to protest. The protest process is a quick and simple way for property owners to present evidence to reduce their property’s appraised value. After submitting the objection, the appraisal district and the owner may establish an informal agreement on the value of their property. If no agreement can be reached, the property will be scheduled for an Appraisal Review Board Hearing (ARB). Property owners should begin receiving their property tax appraisals. Many property owners will then have to decide whether they agree with the appraisal or file a protest if they don’t. When you obtain your appraisal, the first thing you should do is double-check it for accuracy. First, make sure the appraisal district gets all your home’s pertinent information. Then, instead of evaluating the appraised value indicated on your notice, you should examine the market value.
The Values Which Are Determined By The Appraisal District:
Market value: This is the price at which your property would sell on January 1st.
Assessed value: This is the worth of your home that has been reduced due to resources restrictions imposed by having a homestead exemption.
Taxable value: The assessed value minus any exemption amounts is the taxable value. Each taxing unit is the value utilized to determine your property taxes.
It’s your right to put the system to the proof. You have the right to a lowering in your property taxes. A procedure for appealing your property’s assessed value is set out under state legislation. We provide a property tax reduction service to residential homeowners in exchange for a contingency fee of 50% of all property taxes saved through administrative hearings or court appeals for that tax year.
1. Analyzes previous evaluations
2. At informal hearings, conducts research, prepares, and presents appeals on your behalf.
3. If necessary, coordinate a mutually agreed-upon lawsuit.
Points should be Considered by the Owner before filing a Protest:
There are a few points a property owner should keep in mind before getting into property tax protest services:
1. If you are uneasy with the protest process, you have the option of hiring a state-licensed property tax consultant to represent you. A person performing property tax consulting services must register with the TDLR unless exempt from registration. In addition, Property Tax Consultants receive TDLR education and training to ensure that they provide competent representation to residents and avoid issues if they are represented by someone unfamiliar with the laws and procedures that govern our state’s property tax system.
2. You must decide after receiving the evidence from the district. The district’s evidence will compare your home into two groups of properties: one for market value and the other for unequal appraisal. The market value of your home is the price that similar houses in your neighborhood recently sold for. The different set compares to other homes in your area’s appraisal district values.
3. Your objection is to the property’s value, not the amount of taxes you pay. If your evidence and reasoning demonstrate why you believe the value of your property is excessive, you are more likely to receive relief. The ARB has no authority over the amount of taxes you pay because it is determined by the taxing entities when tax rates are set.
4. Provide evidence to back up your claim. For example, if you present written or visual proof explaining why you believe the property is overvalued. In that case, your appraised property value is more likely to be reduced if you have a hearing. Unfortunately, ARB will not return any evidence once it’s submitted. However, the appraisal district personnel can create copies for you if you are unable to do.
5. Before you file a protest, make sure you’re getting all the exemptions you’re entitled to. Every taxpayer is entitled to a Residence Homestead Exemption for their principal residence. The exemption does not influence the appraised value of your home, but it does help you save money on taxes.
Conclusion
If the property owner is satisfied with the hearing’s decision, no further action is required. If the owner disagrees with the ARB’s decision, they can take the issue to District Court for review. A district appraiser may meet with you one-on-one regarding your appraisal during the process. Don’t allow them to pressure you into canceling your ARB hearing if you don’t think they’ve reduced the value low enough during your session. There’s no assurance that the ARB will reduce it further—in fact, they might give you a higher number. If you’re discussing directly with an appraiser, though, have a strong sense of what you believe is reasonable and stick to it while remaining respectful.
