My Property Taxes Have Doubled!

Now What?

Your home’s appraised value for the year is based on its condition – and what the property could sell for on January 1. The appraisal district taxes your home’s market value. Your home’s condition on Jan. 1 is key as you look at factors that may affect the value. Any damage or improvements after this date – say, a roof damaging hail storm in March, or a kitchen remodel in May – won’t affect the taxable value of your home this year.

IF THE PROPOSED VALUE OF YOUR PROPERTY IS TOO HIGH.

This could be based on incorrect information on the Appraisal District records, such as lot size, building size, etc. It could also be due to situations that the Appraisal District does not know, such as hidden defects, cracked foundations, inadequate plumbing, flooding problems, amount of updating, etc. If similar properties are selling for less than your property, you may have a reason to protest.

THE DEADLINE TO FILE THE PROTEST IS 5/31.

After filing your protest, you will receive a letter with the time of your Appraisal Review Board hearing. Dallas County encourages informal hearings anytime prior to your scheduled hearing date. Most homeowners I talk to have had more success with the informal meeting.

WHAT TO BRING WITH YOU?

Bring as much ammunition as you can with you. The more proof you have the better your chances of getting tax relief.

1)Comparable property sales from the previous year. (Remember the Jan 1 condition rule?)

2) Pictures, pictures, pictures. Document every item in your home that needs repair or updating. Don’t forget less than optimal locations and awkward floor plans.

3) If you recently purchased or refinanced, bring your appraisal and/or Settlement Statement if they are lower than the proposed new assessed value. You can also pay a professional to represent you.

Deborah Whitington Realty has committed to helping Lake Highlands residents with preparing for their hearing for 2 decades, FREE of charge. Please contact me if you know someone who wants more information.

Or www.whiterockhomesales.com /?p=641.