Property taxes can be a significant financial burden. Luckily, property owners have the option to challenge the assessed value of their properties. By disputing your property’s value, you may be able to reduce your property tax expenses.

Understanding the Process

The process of challenging property taxes typically involves the following steps;

1. Receive Your Appraisal Notice: This document outlines the appraised value of your property.
2. File a Protest: You need to protest your property’s value prior to the appeal deadline through the county appraisal district/property appraiser’s office.

3. Collect Evidence: Gather evidence that supports your argument that the property’s value is inflated. This could include data relating to recent property sales issues, the condition of your property, or other economic factors impacting property values.

1. Informal Meeting (Optional): Most appraisal districts offer informal meetings to discuss your protest one-on-one with a property appraiser.
2. Formal Hearing: If you’re dissatisfied with the informal meeting outcome or if no reduction was offered, you are afforded an opportunity to present your argument in a formal hearing in front of the Appraisal Review Board/Value Adjustment Board.

Building a Strong Case

To increase your chances of a successful protest, consider the following:

• Look for comparable properties that recently sold for less.
• Make sure to document any issues with the property’s condition that could help lower its value, such as damage, environmental issues, etc.
• Look into other factors in your area to see if they help support a lower property valuation.
• It might be helpful to hire a property tax consultant to assist with the protest process.

Timing is Crucial

Make certain you protest your valuation in a timely manner. Missing the protest/appeal deadline leaves you with very little recourse to lower your property’s valuation.

Remember, in most states, property valuations are done on an annual basis. Even if you successfully protested your property’s value last year it’s a good idea to review your appraisal annually since property values can change based on market conditions, condition of your property, recent sales, etc.

By becoming familiar with the procedures, collecting evidence, and filing timely protests/appeals, you can improve your chances of effectively lowering your property value and saving tax dollars.