We believe in keeping our clients informed. Here you will find tips, tricks, and useful information relating to realty tax appraisal.
It’s property tax appeal time again! As an authorized agent of your residential property, we will file your protest timely unless you instruct us otherwise. Whether your valuation changed or remained the same, your real valuation may be lower. Our objective is to minimize your......
The 2020 property tax season is just around the corner! Once again, we anticipate the appraisal districts will be very aggressive in setting higher values. In order to properly value your commerical properties, at this time of year we ask for the following documents: 2019 year-end......
Contributed report Property taxes on small acreages can now be lowered by keeping bees on the property. Texas law allows bees and beehives to qualify for reducing property taxes on plots ranging from five to 20 acres similar to livestock or raising hay. Dennis Herbert......
by Andrea Zelinski AUSTIN — Texans are so worried about funding for education and low pay for teachers that 6 in 10 people said they are willing to support higher taxes to better fund local schools, a poll recently released by the advocacy group Raise......
by Editor Ken Martin Not reappraising residential properties in 2020 will cause major problems for school districts Tom Leonard, superintendent of Eanes Independent School District, addressed the TCAD board of directors this morning. He presented a letter on behalf of eight of the 15 school districts who......
Appraisal Districts
Click your district for a link to their website.
Angelina
Bastrop
Bell
Bexar
Bowie
Burnet
Caldwell
Calhoun
Cameron
Collin
Comal
Dallas
Denton
Ector
El Paso
Ellis
Fort Bend
Gonzales
Grayson
Gregg
Hardin
Harris
Harrison
Hidalgo
Hunt
Johnson
Kaufman
Lubbock
Matagorda
Montgomery
Nueces
Orange
Panola
Parker
Potter-Randall
Rockwall
Smith
Tarrant
Taylor
Travis
Van Zandt
Washington
Webb
Williamson
Kendall
Llano
Navarro
Walker
Wise
Below are the four methods the Appraisal District (AD) may use in setting your value each year. After you file a protest on your property, be sure to request in writing the evidence the AD used in setting the value. One or more of these methods will be used, and you can then use the same (or more appropriate) method in appealing their value!
1. Sales Comparison Approach
Compares your property with similar properties that have been recently sold in the relevant marketplace (must be in the same county) by adjusting the prices based on marketplace conditions and the properties’ characteristics of value. Conditions for adjustment may include age, size, class, quality, and external factors.
2. Income Approach
Concludes an opinion of present value by calculating the anticipated monetary benefits (such as a stream of income) for an income-producing property. In this method, your net present value is divided over a market cap-rate to create a value. It is very important to keep track of your income and expenses. An example of this approach is included in this packet. Evidence sent to you by the AD will include their market cap rate. This method is best after your property has been income-producing for at least one full year.
3. Cost Approach
Estimates the current costs to reproduce or create a property with another of comparable use and marketability. This estimate is then added to the value of the land, then subtracts any actual depreciation on your property to come to an accurate opinion of value. This method is typically used on newly completed or completed buildings. Keep all construction documents for all phases of construction on your property! The value of the property should be based on whatever construction material is in the ground as of January 1st of that tax year.
4. Equal & Uniform Approach
Similar to the Sales Approach but uses current market values on any similar properties in the relevant marketplace (do not have to be recently sold).
Keep in mind: The appraisal districts use what’s called “Mass Appraisal”, which means they value a group of properties as of a given date (January 1) using common data, standardized methods and statistical testing. This means they may NOT have the most accurate data on the true value of your
property.
