Published April 22, 2019
Protesting Your Property Taxes
If you live in Travis County, it’s the time of the year when property
tax appraisals are released and it’s most likely you are about to pay
more than last year. It is your legal right to protest your property
taxes and it only takes a handful of steps. These steps could save you
money so it is time well spent!
Understanding Tax-Assessed Value vs. Market Value
Before
we go through the steps, let's take a moment to review the difference
between your tax-assessed value and market value. The tax-assessed value
is what Travis County believes your property is worth. Although the
county attempts to set their values at market value, they do not
evaluate comparables nor do they perform an individual market analysis
on every home. That means they are only looking at the area - not your
home's condition, size, or amenities.
How to Determine Your Market Value
If
the market value on your home is lower than your tax-assessed value,
then we would recommend appealing. If the market value is higher, then
you should not appeal. How do you determine your market value? You can use the free, home property valuation tool on our website to find the market value of your home.
If for any reason you are unsure
about your decision to appeal, give us a call and we are happy to walk
you through the decision process!
File Your Protest
You can use the form from the Travis County Appraisal District below and prepare your evidence for a future hearing.
Property Appraisal Notice of Protest - Download Form
-
Evidence can include a comparable market analysis that looks at market
value and recent sales for homes that are similar to yours in size,
location, and age. Email us for help preparing a CMA!
- Notes
about your home's condition and anything that could cause the market
value to go down (i.e. foundation issues) plus pictures of these issues
should be documented as evidence.
- If you recently purchased a
home and the purchase price was lower than your appraised value, you can
bring a copy of your settlement statement as evidence.
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We
are here to help you take these steps to save money! If you would like
us to find our your home value or create a Comparable Market Analysis
for evidence, email us at schuyler@wgrouprealestate.com.