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 FAQ - Frequently Asked Questions
FAQ about Value.
FAQ about Exemptions.
FAQ about Protest.
FAQ about ARB Hearing?
Questions about my value.
 | How do I know if my value increased?
The Chief Appraiser is required to notify an owner if (1) the value
increases more than $1,000; (2) the appraised value is greater than the owner rendered;
(3) the property was not on the appraisal roll the prior year; (4) the property was
reappraised; (5) the ownership changed; or (6) the owner or his agent requested a Notice
of Value. PTC 25.19 |
| If my appraised value goes up, will my taxes go up?
Yes unless your property taxes were frozen because of the Over 65
exemption and your taxing entities allowed this exemption. |
| Can I sell my home to the district for what they think it is worth?
I cannot tell you how many times we have heard a property owner say,
"If they think it is worth that much, I'll just sell it to 'em!" The appraisal
district, chief appraiser or employees are not interested in buying your house. They are
just doing their job by appraising it. |
| Should I protest my value if the TAD value is less than what I think it
might sell
for?
A classic question. The All-American Home Owner believes everybody
should pay their fair share of taxes. Since the appraisal district is required to appraise
property at market value, and you believe that you could sell it for more than that, then
you are under-appraised, which means you might be paying less than your share of property taxes.
It's your decision to advise TAD to increase your value. (PTC
23.01(a) and defined in PTC 1.03(7)), |
| The appraisal district appraised my house for exactly what I paid last year. The
new value is considerable above last year's value. Several of my neighbors were surprised
when I told them of my new value since their property did not increase. Is this fair to
me?
You may be the victim of Unequal Appraisal, with the right to protest your
value even if it is market value! The PTC allows Unequal Value protest when
the neighbors (other homeowners) who have a similar class and location are undervalued.
They are paying less
than their fair share which causes you to pay more than your fair share. Believe it or not,
if you prevail in this type of protest, your value will be decreased
even though it was appraised at market value! |
| What makes the appraisal district think my house is worth what they say?
Believe it or not, they just don't reach up and grab a number. An appraisal
district has many professional appraisers skilled in the art of mass appraisal techniques.
They are master of compiling numbers using huge databases. They "put their
eyeballs" on each property at least once every 3 years, identify the
type of property, put a
market value on it based on comparable sales (if possible); determine the ownership; and
are prepared to defend that value! Some have been trained in "how to present cases to
the ARB." For 95% of their work. they are good at it. |
| I am confused by the different values from the appraisal district. What is
market value? Appraised value? Taxable value?
Market value for individual properties may be determined by three
different methods or approach: market, income, and cost approach. The market
approach is most often used and simply asks, “What are properties similar to this
property selling for?” The value of your home is an estimate of the price your home
would sell for on January 1. The appraisal district compares your home to similar homes
that have sold recently and determines your home’s value.
Appraised Value of a residence homestead for a tax year is limited to the
lesser of either its market value or the sum of the market value of any new improvements
and 110 percent of the appraised value of the preceding year. The 10 percent increase is
cumulative - that is, 10 percent times the number of years since the property was last
appraised. Therefore, if a homestead increases in value by 20 percent in two years, all of
the increase can be added to the appraisal roll. A limitation takes effect for a residence
homestead on January 1 of the tax year following the first tax year the owner qualifies
the property for the residence homestead exemption. The limitation ends on the January 1
of the first tax year that neither the owner nor the owner's spouse or surviving spouse
qualifies for the homestead exemptions.
Taxable Value is the value taxing units use to calculate the amount of
property tax you owe. It is the Appraised Value less any exemptions.
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Exemptions?
| My Notice of Value indicated my estimated taxes zoomed to horrendous rates. I thought my
taxes were frozen! |
| If my exemption is cancelled by the Chief Appraiser, how will I know it? |
| I am a widow of 56. My husband who qualified for the Over 65 exemption died. I intend to
stay in the home. Will my taxes still be frozen? What if I decide to move? Will my new
home qualify for an Over 65 ememption? to another home as my new homestead. |
| We bought a new home about 18 months ago. I failed to file for a homestead exemption and
my taxes were paid. |
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How to protest?
| Is there an official form I have to use to file a protest? |
| I missed the deadline for filing a protest. My neighbor protested his value and the ARB
decreased his value. Is it too late to file a protest? |
| My taxes increased because the tax bill indicated a taxable value much greater than last
year's and the rates increased, too. I do not remember receiving a Notice of Value. Can I
do anything about these taxes? |
The ARB Hearing?
| Can I postpone my hearing date? |
| How do I find evidence to support my case that my house is over-valued? |
| Can I find out what the appraisal district is going to use against me at the hearing? |
| I am scared to death of a hearing! Do I have to appear in person? |
| I protested my value and the ARB INCREASED the appraised value. Am I stuck? |
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