How Property Tax Appeal/Protest Works
We receive your protest paperwork and begin working to assess the value of your home. Once we have a good value, we compare it against what the tax appraisal office has listed the value of your home to be.
Next, we await the informal protest process and negotiate the fair market value with the tax appraiser. Generally, most negotiations will end at this stage and we will have a successful outcome. If we do not feel that the negotiations are fair, we will contact you at this point and determine whether you would like us to go through a formal protest. If you choose to go through the formal process, we will attend the formal protest on your behalf.
Last year, we did approximately 100 protests and had a 95% success rate in reducing the appraised value of the properties. Those that we were able to reduce ranged anywhere from a 2% reduction to a 30% reduction.
- One property had been increasing in value for multiple years and our client decided to protest. We were able to take their property from $418,950 down to $386,587 in market value. An 8% reduction or $32,363 reduction in market value.
- Another property was assessed much higher than the purchase price for the home in the same year. So we were able to reduce the market value from $453,160 down to $325,000 – the purchase price.
- Another property went from $190,880 to $170,000 due to the condition of the home.
How Property Taxes Are Calculated
Generally, the appraisers look at fair market value to determine what your property taxes will be. Therefore, the comparative listings in your neighborhood are an important factor to consider. Once the fair market value of your property is determined, then each taxing authority calculates their property taxes at their scheduled rate by multiplying their percentage against the fair market value of your home.