Should you protest your property taxes? скачать в хорошем качестве

Should you protest your property taxes?

Are you wondering whether you should protest your property taxes? The short answer is yes. While Austin home values have softened compared to their peak, property tax bills are not always moving in the same direction. That’s because property taxes are based on the county’s appraised (market) value, which often lags behind real-time market changes. Even though voters recently rejected a proposed City of Austin tax increase, many homeowners across Travis County are still seeing higher tax bills. Why? Because tax rates and property values are two separate factors. Even when rates stay flat or dip slightly, elevated appraisals can still result in higher taxes year over year. Cities, counties, and school districts also set rates based on budget needs, which can further impact what you owe. Bottom line: rates matter, but appraised value is the real lever — and that’s what you can protest. Important Notice for New Homeowners If you recently purchased a home and haven’t received a tax bill yet, you are still responsible for payment. Tax bills are typically mailed in November and are due by January 31. Your obligation exists regardless of whose name appears on the bill. Property taxes are based on the county’s appraised value, not your lender or escrow assumptions. Homestead Exemptions Matter — A Lot If you own and live in your home, filing a Homestead Exemption is one of the most important steps you can take. • You can apply as soon as you purchase — no need to wait until January 1 • Exemptions do not transfer from the prior owner • You only need to file once • Homestead exemptions cap annual taxable value increases at 10% • Investment properties do not receive this cap and can increase without limit Why I Encourage Everyone to Protest Even if you think it won’t make a difference, protesting is worth it. 1. It pushes back on aggressive valuations that may no longer reflect the market 2. Many homeowners receive a reduction simply by filing 3. Lowering your appraised value now lowers your tax base for future years, which is especially important with a homestead cap How the Protest Process Works There are two steps: 1. File a protest to initiate an informal hearing (online is easiest) 2. If needed, request a formal ARB hearing if you’re not satisfied In many cases, a reduction is offered at the informal stage. What to Ask and Look For at Hearings Ask which properties the county is using as comparables, then evaluate: • Do they have better views? • Are they on a golf course? • Do they have pools or major updates? • Larger lots or superior locations? If so, those properties should not be used to justify your value. How to Build a Strong Protest Case Start by confirming the county’s data is accurate: • Square footage • Lot size • Year built • Bedrooms and bathrooms Then gather evidence: • Recent comparable sales in the same Market Area (same style, ±20% size, ±5 years built) • Sold data from January 1 of the prior year through March 31 of the current year • Similar homes assessed lower than yours • Your purchase price or lender appraisal if lower than the county value • Refinance appraisals showing a lower value • Listings that failed to sell or expired at lower prices • Documentation of condition issues (roof, HVAC, foundation, windows, outdated finishes, traffic exposure). Photos matter. The strongest cases usually include: • Similar homes that sold for less • Similar homes assessed for less • Clear documentation of condition or location drawbacks • A reasonable value you can defend Buyers and Sellers: What You Should Know Buyers • Property taxes are a major affordability factor — always estimate taxes before making an offer • Homes outside Austin city limits often carry lower tax burdens • File exemptions immediately after purchase Sellers • Buyers often underestimate taxes — be prepared to explain the breakdown: – City – County – School district – Special districts (MUDs, PIDs) • Reinforce that appraised value, not just the tax rate, drives the bill Final Takeaway • Austin market values have cooled, but tax appraisals don’t always adjust quickly • Appraisals drive taxes — and protests are one of the few tools homeowners have • Understanding taxes early helps buyers plan realistically and helps sellers set expectations Be prepared, document everything, and stay courteous. Knowing your facts truly makes a difference. Property Tax Protest Companies • Home Tax Shield https://hometaxshield.com/partners/kr... • Five Stone Tax Advisers https://www.fivestonetax.com/ Contact us for links to your County Appraisal website! 👇 Stay Connected With Our Team Website: https://www.bestofaustinliving.com Instagram: bestofaustinliving Facebook: bestofaustinlivingatkw Email: team@bestofaustinliving.com Phone: (512) 994-9206 📝 Licensing The Best of Austin Living Team License 672199 Keller Williams Realty License 9010968