Home address: 5303 Castle Pine Rd

2021 Taxable Value: $524,410  

Recent Sales Price: $420,000 – Over-taxed by 25%

Property tax assessments not carefully reviewed lead to paying more than your share of property taxes. One option to reduce your property taxes is to protest the market value. You can reduce your property taxes with an unequal appraisal appeal. It is difficult to persuade property owners to protest their property taxes.  But 60 to 80% of those who do are successful. 

Property owners are sometimes reluctant to protest their property taxes because they believe the appeal process is difficult.  It is not difficult and 60 to 80% of owners who appeal are successful. Appraisal districts use the cost approach to value houses.  It is generally considered the least reliable method of appraisal. Tax protests are resolved at the informal hearing since the result is within a “reasonable range of value”.  Appraisal is not an exact science and valuations are only an educated opinion of value, not a fact. Property owners have a duty and responsibility to appraise property taxes annually.  It is not prudent or reasonable to rely on the appraisal district’s estimate.