Home address: 2810 Valley Forest Dr
2021 Taxable Value: $167,870
Recent Sales Price: $130,000 – Over-taxed by 29%
Most home owners who do not appeal annually pay excess property taxes. A market value appeal is based on the assessor’s value exceeding the market value of your home. Unequal appraisal is a powerful tool to reduce property taxes, but many homeowners are not aware of it and don’t use it. Appraisal districts are generally very receptive to settling tax appeals at the informal hearing.
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. Mass appraisal models make it impossible for appraisal districts to accurately value most houses. One reason appraisal districts are motivated to settle protests is to maintain goodwill with the community. Property owners have a duty and responsibility to appraisal property taxes annually. It is not prudent or reasonable to rely on the appraisal district’s estimate.