Just got back from my tax appraisal protest!

[cam76034]

Your House As Seen By:

Yourself...



Your Buyer...



Your Lender...




Your Appraiser...


And...
Your County's Tax Assessor...







Actually it went quite well, I showed them the picture of the log cabin and they reduced it by $17K!

[trickyrix]

[Titus]

Out in California, my Dad owns 3 houses in the same development. One is where they live and one is a rental. The third is the house across the street from theirs and was picked up a few months ago in a foreclosure sale. He paid $205k for it, which is about 45% of the what the last tax appraisal on it was. Where they are at, the tax appraisal value automatically re-sets to the sale price, but he is also in the process of using the purchase price to protest the taxes on the other 2 houses. If he wins, he should be able to save enough to cover the taxes on the new house and pocket over $5k each year.

[VFR750]

Congrats................I bought a rent house in Collin county a couple months ago. The county appraised it at 16% more than I paid. When I inquired about protesting the county researched it and told me there apprasial stands "because thats what it is worth...." The apprasial done for my purchase and the actual purchase price did not mean squat to them.....geez, I thought Dallas county was bad.

[miataspeedracer]

Odd. I protested my tax assessment in Plano a couple of years ago, since it came in higher than my purchase price. When I showed them proof of what I paid for the home, they lowered the tax appraisal without quibble.

[VFR750]

Thanks for the info...........the lady I spoke to at the Collin County Apprasial District told me that the policy of using purchase price was not done anymore. Maybe she was just pulling my string?

[Ataim]

Odd. I protested my tax assessment in Plano a couple of years ago, since it came in higher than my purchase price. When I showed them proof of what I paid for the home, they lowered the tax appraisal without quibble.

Pretty much the same here.

[ckearns]

The taxing authorities are hurting for tax revenues over the last couple of years. They're pulling sales data that suits them to make your taxes go up, and you have to find the sales data that makes it go down. Lenders are scrutinizing loan amounts more than they ever had before, so appraisal values are getting closer and closer to actual market value.

If both sides play their part, there's a meeting in the middle and everyone goes away a little bit unhappy.

Chum up with a realtor that knows your area and hit them up for comps every time you get a tax adjustment - throw them some scratch, buy them a beer, drop their name to someone that's buying or selling, or use them when you're ready to buy/sell as payback. Realtors are big into networking, so it's not a bad thing to work it to your advantage.

I protested every adjustment DCCAD has made to my house and have had a reduction in the assessed value each time. Every little bit adds up. :)

Chris

[cam76034]

VFR750, I think I'd ask for a copy of that "new policy". When I bought our house 11 years ago, it was a TCB deal way below the TAD valuation and so they lowered the taxation value to the purchase price, although they did up it the maximum legal 10% each and every year thereafter until it was on a par with the rest of the neighborhood.

In fact, it was the TAD drone in attendance at my protest meeting who was more than happy to show the house down the block that recently sold for $111 per square foot and that the same formula should be applied to my home as well. Apparently it's a one way street when it comes to using recent sales data... I think he was surprised to be shot down to a $$$ level that was actually LOWER than what it has been for the past 5 years. Unfortunately, not a single one of my neighbors filed a protest, so they will be seeing anywhere from $1000+ in next year's tax bill.

[VFR750]

VFR750, I think I'd ask for a copy of that "new policy". When I bought our house 11 years ago, it was a TCB deal way below the TAD valuation and so they lowered the taxation value to the purchase price, although they did up it the maximum legal 10% each and every year thereafter until it was on a par with the rest of the neighborhood.

I plan on it...........

In fact, it was the TAD drone in attendance at my protest meeting who was more than happy to show the house down the block that recently sold for $111 per square foot and that the same formula should be applied to my home as well. Apparently it's a one way street when it comes to using recent sales data... I think he was surprised to be shot down to a $$$ level that was actually LOWER than what it has been for the past 5 years. Unfortunately, not a single one of my neighbors filed a protest, so they will be seeing anywhere from $1000+ in next year's tax bill.

Yep, the apprasial districts just use the high comps..........looks like its our job to get the low comps. Every time I have gone to the Dallas District to protest the rep always shows 3 or 4 high comps for my hood......