Your property tax assessed value is on its way—what’s the next step?

If you’re a homeowner in the state of Texas and haven’t received it already, you’ll soon be getting the proposed valuation of your home for your 2021 property taxes. What are the next steps to take?

First, open it up. Even though none of us likes to deal with taxes, you will need to see what your tax district thinks your house is worth. There’s a good chance, especially if your home hasn’t been purchased within the last couple of years, that the tax district thinks your home is worth less than its market value. If that’s the case, then celebrate! (At least for this year.) Remember that tax assessed value has nothing to do with market value. 

If you think the proposed assessed value you get is way too high, you have an opportunity to protest it. When you get your assessment, it’ll tell you exactly what your options are. You can register to protest online or via the mail; the deadline to do that is usually May 31, but several counties have a May 17 deadline, so be sure to check.

“Tax assessed value has nothing to do with market value.”

Once you register your desire to protest, gather data from a trusted real estate advisor. The tax district is only interested in sales from the prior year, and I can help you gather that data. Then they’ll send you notice of a hearing and invite you to upload your data. Sometimes, they’ll give you a revised offering where you don’t even have to go in front of the appraisal review board. 

If you do plead your case in person, it’ll be a very short process (from five to seven minutes). They’ll tell you right then and there what they’ll assess your property value at for this year’s property taxes.

If you have questions about property tax assessments or anything else to do with residential real estate, reach out to me. I’d love to be your resource.