It’s that time of year again. You open your mail, pull out your Notice of Appraised Value, and see an unexpected property tax increase. If you are wondering why your value spiked and what you can do about it, don't panic.
Here are the immediate steps you should take to investigate the changes and fight back against an over-assessment.
Your first step should be requesting your property tax card (or pulling it from the appraisal district's website). This card contains the raw data the county used to assess your value—such as precise dimensions, condition ratings, and the types of fixtures on the property.
Carefully review this information for accuracy. Did they mark you down for an extra bedroom? Did they overstate your commercial square footage? If you find factual discrepancies, you have immediate grounds for an appeal.
Take a stroll around your yard or through your commercial facility. Take inventory of exactly what improvements you’ve made and any ways your property differs from others in your neighborhood.
Do you have a two-car garage while neighbors have one? Did you install a new privacy fence or commercial security gate? If you have made significant visible improvements, that could be the reason you’re seeing an increase. Alternatively, if your property is aging or suffering from deferred maintenance while your neighbors' properties are newly renovated, you can use that physical wear as evidence to lower your taxes.
One of the primary factors the county uses to assess value is how your property compares to your neighbors. This is called unequal appraisal. Review the property tax records for similar homes or businesses in your immediate area.
Is your property assessed noticeably higher than an identical building down the street? If your property is comparable to most others in the area but you received a much steeper tax increase, point this out to the district. You have a legal right to be taxed uniformly.
It is absolutely critical to analyze projected property taxes before closing on a new commercial or residential deal. If the property was recently remodeled, the previous owner's tax bill will not reflect the massive increase you are about to receive once the county reassesses the new improvements.
Just because you didn’t immediately spot a mistake on your tax card doesn’t mean the county is right. Mass appraisal systems are deeply flawed.
Consulting with a property tax attorney or consultant can help you find out exactly why your taxes increased. Property tax experts have access to proprietary market databases and understand how to calculate functional and economic obsolescence to get to the root of the problem.
You have a legal right to protest an unfair property tax increase. Contact PropertyTaxes.Law today for a free assessment of your property. We handle the entire appeal process on a contingency basis.
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