Steps to a Property Tax Protest
So, it’s April and you’ve received your new proposed property tax values from the Tarrant Appraisal District or the Denton Appraisal District. Or maybe you haven’t received any notice at all from the appraisal district; they are not required to notify you under certain circumstances. What do you do now? Here are some steps to file a successful property tax protest in Tarrant and Denton counties.
Forms of Appeal
This property value appeal is based on the belief that the property in question is appraised above the rest of the market.
In order to win under Value Above Market, you need good comparable sales data. Comparable assessments won’t help; you can’t successfully ask for a lower taxable value because your neighbors’ values are lower. You need evidence that your property is valued above the current market. Comparable sales data can get convoluted and require judgement calls for the best evidence to present to the ARB. Factors such as location, land discrepancies, adjustments, and market trends can impact the quality of comparable properties, which is why this is a task best left to a professional. At Property Tax Protest we use comparable sales data that you may think does not apply to your property but that fit the criteria of the Denton or Tarrant Appraisal District. Our track record and experience with what works best for your specific neighborhood, in your specific county, are what brings our clients back to us year after year.
UnequalAppraisal (Inequality): This appeal is based on the argument that your property is valued unequally to comparable properties. The focus of this appeal is on whether “the appraised value of the subject property is equal to or less than the median appraised value of a reasonable number of comparable properties that are appropriately adjusted.” For a protest under inequality, the focus is on three key issues
For example, suppose a recently purchased property is assessed at its purchase price but other properties in the subdivision are not affected. The new homeowner may be appraised unequally even if the value is at market. Thus, a protest under Inequality can result in a value below cost. Say you purchased in the past eighteen months and the district assesses you at cost. If your value is above the median for your subdivision – as it usually is in a recent sale -- you are a candidate for lower taxes through Inequality. But to prevail on Inequality it’s essential that you use a professional because the rules are arcane, and you need to observe them.
How We Win – For You
Why should you hire Property Tax Protest? Our twenty plus years of experience provide you with the knowledge and expertise for a successful protest. We save you the time and hassle of collecting evidence for your protest and scheduling an in person meeting with the appraisal district. We do it for 1% of the reduction we obtain for you. And there’s no risk because if there’s no reduction there’s no fee!
Can I seek a value less than what I paid for my property? Yes, you can seek a value less than the current market under Inequality of Appraisal.
Texas’ Constitution prohibits discriminatory practices in assessing taxes. For example, suppose a recently purchased property is assessed at its purchase price but other properties in the subdivision are not affected. The new homeowner may be appraised unequally even if his value is at market. One key to protesting under inequality is specifying inequality of appraisal at time of protest. If you don’t specify a protest under inequality, that relief is waived. Property Tax Protest files under both Value Above Market and under Inequality automatically every year so you don’t have to be concerned.
Texas’ Constitution guarantees you the right to contest your property’s taxes and seek a lower taxable value. We are here to help at no risk to you!