In Texas, we don’t have a state income tax; seems pretty nice, right? Unfortunately, this setup has its trade-offs, and in order to fund our essential programs and services, we rely on sales tax and (gulp) property taxes to do it. With skyrocketing North Texas home prices, you might be left with an inflated valuation and a sky-high property tax bill.
Here at FHL Texas, we know that having a hand to navigate property taxes can make a difference. You need to file a Notice of Protest by May 15th, so the deadline is coming up quick.
Need some more information? Call Family Home Loan Texas today.
Have You Seen A Steep Increase?
You’re not alone, and an abrupt change to a property tax bill can cause serious problems for homeowners. In our state, we rely on this income stream to be able to fund our government, but during and after the COVID-19 pandemic, we saw a drastic change in property valuations. But even though the long lines at open houses are gone, your county, city, and school district may have a distorted view of your home’s worth.
Tax Valuation Seem Way Too High?
In Texas, we don’t have a state income tax; seems pretty nice, right? Unfortunately, this setup has its trade-offs, and in order to fund our essential programs and services, we rely on sales tax and (gulp) property taxes to do it. With skyrocketing North Texas home prices, you might be left with an inflated valuation and a sky-high property tax bill.
Here at FHL Texas, we know that having a hand to navigate property taxes can make a difference. You need to file a Notice of Protest by May 15th, so the deadline is coming up quick.
Need some more information? Call Family Home Loan Texas today.
Have You Seen A Steep Increase?
You’re not alone, and an abrupt change to a property tax bill can cause serious problems for homeowners. In our state, we rely on this income stream to be able to fund our government, but during and after the COVID-19 pandemic, we saw a drastic change in property valuations. But even though the long lines at open houses are gone, your county, city, and school district may have a distorted view of your home’s worth.
Tax Valuations In Texas Put Homeowners At Risk
People plan their budgets, and right now, there’s often not a lot extra to go around. For homeowners, especially for our senior population, a sky-high property tax bill can impact things. It can possibly even force someone to sell their home or struggle to pay for their day-to-day expenses.
Now, Texas has a budget surplus of nearly $24 billion dollars, and there’s more than $28 billion in the Rainy Day Fund. That means that we’re putting homeowners at risk to build up a bank account.
How Do I Protest My Property Tax Valuation?
Either by May 15th, or by 30 days after you receive your Notice of Appraised Value, whichever comes later, you need to file a protest with your Appraisal Review Board (ARB). The Notice of Protest (Form 50-132) is typically found on their website, and if you need help making sense of the process, we’re here for you.
In order to be successful, you’ll need to have evidence to back up your claims. Comparable sales data can be your friend here, as it gives you the chance to show that homes are not selling for as much as they think. Photographs of property deterioration and repair estimates can also demonstrate that you would need to put in significant investment to reach their sale price.
Have Property Tax Questions? Call FHL Texas
If you’ve received your Notice of Appraised value, and you’re floored, learn how to protest your valuation. The time’s getting tight, though!
Call Family Home Loan Texas at (214) 447-7575 today.
