If you think your home’s assessed value is too high, you can protest it and get your property taxes lowered. Here’s how.
Each April, you receive a letter from the appraisal district that notifies you of your home’s current assessed value. This assessed value is used to multiply your tax rate each October and come up with your property tax amount. It’s a very important number to pay attention to because you do have the option to protest your taxes if you think they’re too high.
You can compile comparable data, take it down to the appraisal district, and protest your case. While everyone can do this, not everyone is equipped with the necessary knowledge to accomplish it on their own. Although there are property tax consulting firms that can help, they will take anywhere from 30% to 50% of what they save you.
While that’s certainly an option, a lot of these firms only take properties worth a certain amount. Most of the starter homes aren’t worth enough to justify the cost to the firm. If you’re in a situation like that, there are some DIY vendors out there who can provide you with all the data you need for a small fee, and you can do the leg work on your own.
If you would like an introduction to a professional who can help you do this, reach out to us via phone or email and we can get you connected. We’re also here to answer any mortgage-related questions you have. We look forward to hearing from you.