I’ve decided that those who propose allowing access of property sales closing statements to Texas central appraisal districts could be a good thing.
But that would come with one caveat.
The appraisal district would be required to immediately post the sales price to the new owner’s appraisal account, rather than some adjusted and trumped up amount that would be arrived in some appraisal mumbo jumbo.
Nearby properties’ values would need to be accordingly adjusted by the CAD.
After all, it no longer requires a Phi Beta Kappa to figure out what almost any property sold for, now that so much information is readily available to the public by virtue of the Internet.
Often I look at properties that are currently for sale. The first thing I do is to compare the listed price with the current value shown by the appropriate CAD. Prospective buyers do the same thing.
Rarely do those two values come close to being the same. I have seen homes for sale where there is approximately $1 million between what the appraisal district values the property and the property’s listed price.
And the appraisal district’s value is always the lower one.
Significant disparaties hurt the prospects for interest in a property, much less causing a sale to occur.