What You Need to Know About Property Tax Appraisals

The central Texas area has grown exponentially causing land prices to skyrocket in recent years. With the increase in property value, homeowners are paying more in property taxes than ever before. If you plan to dispute your property taxes, there are a few things you should know.

Hire Professionals

For the best results in getting a proper appraisal for your property, you should use a real estate law firm Austin TX. While you can dispute the appraisal on your own, you have less of a chance of winning. You need to provide a variety of documentation to prove that your property is overvalued. The county wants to get as much money from the property taxes as possible to build transportation networks, help school districts and meet emergency needs of the county. A professional knows the system and can work with it to help you potentially save thousands. This can be a cumulative thing as well, since next year’s taxes are based partly on this year’s.

Tax Appraisal

The tax appraisal for the county is usually distributed in April or May depending on the county you live in. Usually the bill lists out the valuation of each entity taxing you including emergency services, school district, city, county and any other issues. It lists any exemptions you may have such as homestead or senior over 65. The exemptions show how much you save for each one. You can save for multiple exemptions such as having senior and homestead exemptions. The appraisal also gives you a certain number of days usually 30-60 to file an appeal.

Appeal Taxes

It may be in your best interests to appeal your taxes especially if the taxes have gone up a significant amount. As stated before, tax appraisals build upon each other. A high tax bill this year can mean a higher tax bill next year. The last thing you want is for your property taxes to keep you from being in your home. The state recently passed legislation minimizing the amount of increase you can experience each year.

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