Special offer

Appraisals are here. Are you paying too much?

By
Real Estate Agent with RE/MAX Four Corners 0541318

Appraisals are in for our area and if you haven't received one you will within the next few days.  If you are like me you will find that our property values have gone down slightly in the North Texas area.  While appraised property values are going down our state is busy raising taxes to cover the shortfall.

So what does your appraisal mean?  The price listed on your appraisal is not necessarily what you can sell your home for.  That number can be higher and it could be lower than your appraised value.  The appraisal district does not take in consideration of your individual property when they make valuations.

Since this is not an exact science we have the opportunity to protest our appraisals.  Look on your appraisal and it should tell you how long you have to protest.  My deadline for filing a protest is June 1 but yours could be different.  The rules on filing a protest can be found here if you are in Collin County.  http://www.collincad.org/Informal_Procedures_REAL.pdf   

I will not be protesting my appraisal this year because I know my home is worth more than they say it is.  This is the case with some of you and we can celebrate privately.  There is another group of you that feel that the appraisal is too high and that is where the protest comes in.  You will need to be armed with recently sold comparables in your area that will support your argument.  The best place to get that accurate information is from a Realtor. 

I would be happy to help you evaluate your home and arm you to fight your appraisal.   Call or email me your address and I will provide you with the ammunition you need to lower your taxes.

Posted by

logo

Comments(1)

Anonymous
David Brenner
Some more info for your readers Wayne: Keep in mind, the appraisal is supposed to be the market value of your home on January 1 of the year your receive the statement. Incomplete storm repair could save you hundreds of dollars. Ex. A hail storm hits your home in the prior year. You don't have any leaks but your insurance company says your roof needs to be replaced at a cost of $10,000. Tell the appraisal district about the insurance quote justifying lowering the value of your home by $10,000 for the current year. They'll want copy of the proof. You'll save about $300 in taxes in that example. Now get your roof fixed! You don't want leaks to develop and if you end up needing to sell quickly, you can bet the buyer's inspector will say it needs a roof.
Jun 11, 2009 02:04 PM
#1