Anyone have advice on protesting property tax increases for a recently purchased home?

Appraised value went from 540K to 700K...

likefunny
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I mean...if you paid $750K seems there is a pretty strong case for arguing that indeed the value of the house moved up substantially. Now, if I recall correctly, on the bright side - your property tax can’t raise more than 10% every year after first post-purchase adjustment.

like

That is only valid if you have a homestead on the house.

I mean you purchased it for 750k, why is this so surprising?

likesmart

Oh come on now - taxes are things that OTHER people need to pay, not OP

funny

Didnt you consider this when you bought your home ? If you can’t afford it , sell it

likefunny

It will continue to go up, Texas is California 2.0

like

If you paid 750, what is there to complain about it coming in at only 700?

like

Did you purchase it for less than $700k recently? If so, it's an easy fix to show them what you actually paid. If not, you'll need convincing recent comp. sales.

PWC1

I believe you are correct on the 10% rule. OP should verify, but this might be an option.

I also believe that appraisal value differs from market value, hence why in today's market, the appraisal value of homes is often lower, sometimes much lower, than the market value it sells at.

like

Agreed on the 10% part ^^

Depends on when you bought and filed for homestead exemption. If it was over a year ago, your appraised value can only go up 10%

I protested mine last year successfully. Follow the instructions on the form. It will help you a lot if you can find comparable homes in your area that sold recently at a lower price and put that on your protest.

Just hire a firm to do it for you. They take a contingency fee on whatever they save you. I have been using https://www.ray-tax.com

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