Protesting Property Taxes In Texas
How do you protest property taxes when your houses are in good condition (this includes rentals and primary resisdence)? Everyone says to always protest the taxes every year but how can you get a reduction when the county assessed value is actually acurate?
Well that is what I always thought too but everyone says you should protest every year regardless of how accurate the assessment is.
Nope, I know they have not all been successfull. That is why I started this post, so I could hopefully get some advice. I just figured I would try and see what happens. You never know until you try...
Have you looked at / in “Blacks Law Dictionary”? A dictionary of legal terms. Look under Fair Market Value. It states “the price that a seller is willing to accept and a buyer is willing to pay on the open market and in an arm’s length transaction”, and more follows. Therefore I find many appraisers “guesses” as to the value of property is not exactly correct. The same thing for your local tax authority. They are also “guessing” when the value is done by comparables. If you have bought the property on the open market, at an arm’s length, not from a relative and not at a forced short sale then you may have a case to have your taxes lowered. I am not an attorney so do your own research.
Tbird56 states “By law, all Texas property is now supposedly assessed at actual value, so protesting has to be on the basis of comparable values. Most larger counties get updates from MLS sales, so values are usually pretty much in line.” Question I have is how actual value can be gotten from comparable values when you paid a certain price which you should have documented in your paperwork. These are only my ramblings, I may be way out in left or right field.