Home address: 5225 Ira St N

2021 Taxable Value: $190,015

Recent Sales Price: $120,000  – Over-taxed by 59%

Tarrant County property investors far too often pay excess property taxes. One option to reduce your property taxes is to protest the market value. An unequal appraisal appeal is easy to prepare.  Just find neighborhood homes with a lower level of assessment (per square foot).  Summarize the data in a table. 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.

Property owners are sometimes reluctant to protest their property taxes because they believe the appeal process is difficult.  It is not difficult and 60 to 80% of owners who appeal are successful. Appraisal districts use the mass appraisal to value property, basically a math model.  Overall results are OK.  However, many homes are too high or low. Most tax protests are settled at the informal level so appraisers can return to measuring and valuing new construction. 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.