Home address: 1804 Vancil Ct
2021 Taxable Value: $238,845
Recent Sales Price: $150,000 – Over-taxed by 59%
Tarrant County homeowners are often unaware of the factors that cause them to pay extra taxes. Protest market value, get a few comparable sales as evidence and you are very likely to reduce your property taxes. An unequal appraisal is a powerful tool to reduce property taxes, but many homeowners are not aware of it and don’t use it. Woody Allen said, “80% of success is showing up”. The same is true of property taxes. If you file an appeal and attend the hearing, your chance of reducing your property taxes is excellent.
Some property owners do not appeal due to a concern the appraisal district will want to inspect their house. However, the appraisal district is MUCH too busy during the appeal season to even think about asking to inspect a property. Assessors do not visit houses because of appeals. Appraisal districts use the cost approach to value houses. It is generally considered the least reliable method of appraisal. Tax protests are resolved at the informal hearing since the result is within a “reasonable range of value”. The appraisal is not an exact science and valuations are only an educated opinion of value, not a fact. Property owners have a duty and responsibility to appraise property taxes annually. It is not prudent or reasonable to rely on the appraisal district’s estimate.
