Texas Housing market leads to increased property tax appraisals
Should you protest ?
Many of you have received your notice of appraised value for 2022 and had a minor freak out. This appraised value affects everyone differently; if you have a homestead exemption, this may not shake you as much as a second family home purchase or an investor. However, this impact still sounds an alarm as, in some areas, proposed values have increased more than 40%. So the question we all ask is, should I protest?
Please see all answers below, and for more in-depth information, feel free to reach out; I'm always available to talk about the value of your home or if whether you should protest!
I bought my home this year in 2022; how does this affect me?
To you, my friend, congratulations, and if you haven't done so yet, please file for your homestead exemption. Travis County, Williamson County
2. I bought my home last year in 2021, and they appraised my house for more than what I paid?
First of all, congratulations on your equity; secondly, if you decide to protest, take your closing disclosure stating that you purchased your home for less than the appraised value. This should help, or call me happy to do a quick CMA for you.
3. I purchased my home several years ago, and this appraisal is ridiculous. Are homes selling for this price?
Again, our market is moving at an extraordinary pace. If you purchased your home two or more years ago, homes in your area could be selling for more than 40% over what you bought your home for. Please reach out; happy to do a CMA for you that may help if you decide to protest your new appraised value.
4. I'm an investor.
Feel free to reach out, and I'm happy to share current CMA's that may help with your protest.
Not sure how to protest your proposed assessed value?
There is a webinar tomorrow at 11:30 am. Click here
For the process of protesting. Click here
I hope this is helpful; feel free to reach out with any questions, always here to help. Have a wonderful week!