Home address: 5013 Green Tree Blvd
2021 Tax Assessment: $3,35,650
Recent Sales Price: $2,60,000 – Over-taxed by 29%
Appraisal district errors in setting assessed values cause Midland County owners to pay extra taxes. Appraisal districts are flexible on market value appeals given a large number of houses they value and that are protested. An unequal appraisal is a powerful tool to reduce property taxes but many homeowners are not aware of it and don’t use it. The Texas Comptroller reports 80% of 2019 property tax appeals by homeowners were successful.
Owners are sometimes reluctant to protest property taxes due to a concern their value might be raised. This can’t and does not happen. Since 2019, neither the appraisal district or the appraisal review board can increase a property tax assessment during a protest. One reason it is difficult for appraisal districts to correctly value homes is they are not homogenous. Some have been remodeled and some haven’t. Appraisal districts are willing to settle property tax appeals because they realize their values are not precise. Protest your property taxes on market value and unequal appraisal by May 15th annually. Protest even if you do not receive a value notice.