Home address: 7111 Pikes Peak Way
2021 Taxable Value: $283,353
Recent Sales Price: $188,000 – Overtaxed by 51%
Appraisal district errors in setting assessed values cause El Paso County owners to pay extra taxes. Either comparable sales or condition issues at your home are useful for a market value appeal of property taxes. Unequal appraisal appeals are valid when the assessment is below market value. Appraisal districts are generally very receptive to settling tax appeals at the informal hearing.
Owners are sometimes reluctant to protest property taxes due to a concern their value might be raised. This can’t and does not happen. Since 2019, neither the appraisal district or the appraisal review board can increase a property tax assessment during a protest. Appraisal districts use mass appraisal to value property, basically a math model. Overall results are OK. However, many homes are too high or low. Appraisal districts settle appeals at the informal level to avoid the time-consuming and expensive appraisal review board hearings. Protesting your property taxes annually is analogous to regularly changing the oil in your car. Preventative maintenance avoids serious problems.
