Burden of Proof and Valuation
Some Legislative changes to the Texas Tax Code bode well for those trying to fight tax valuation increases:
"The chief appraiser may not increase the appraised value of a property in the tax year following a successful tax protest on that property unless the increase is supported by substantial evidence (all reliable and probated evidence is considered as a whole).
The burden of proof is on the chief appraiser to support an increase in the appraised value (Tax Code, §23.01). In considering comparable sales, the sale is not considered a comparable sale unless it occurred within the last 24 months. Whether or not a property is comparable is based on similarities with regard to location, square footage of the lot and improvements, property age, property condition, property access, amenities, views, income, operating expenses, occupancy, existence of easements, deed restrictions, or other legal improvements (Tax Code, §23.013).
In determining the value of a residential homestead, the chief appraiser may not exclude from consideration the value of other residential property in the same neighborhood, because it was sold at a foreclosure sale conducted within three years of the preceding tax year, or the market value has declined because of the declining economy.
This clearly allows that the lower, appraised foreclosed values plus the value of the foreclosed property must be considered by the chief appraiser, rather than just relying on the higher property values."
If you feel that your home valuation has increased unfairly, you should familiarize yourself with the tax code to make sure that you are taking advantage of every opportunity to reduce your assessed value. Please let me know if I can help!
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