It?s property tax season here in the Ft Worth-Dallas area, and you may be wondering if your property values have been properly assessed for the taxman-or if it?s worth bothering to contest them. The difference may be only a few hundred dollars after all, and it can be a huge hassle to gather proof and consult with tax experts. It?s a good idea to have an idea as to how the appraisal district does things (often quite different from the process homeowners go through), before deciding whether or not to contest.
There are reasons to contest even small changes in property values. When the state assesses your property, they start with the assessments from previous years, before adding on changes in the market from year to year. they often use values for a ?model? house in your housing type, which may be different from yours for one reason or another. And property values have been increasing across the board. The cost of not contesting your decision can linger to future years and make it harder to contest in future years.
Tax appraisers are not necessarily malicious when they misassess your property-however, their models are not perfect and they have very little incentive to perfect them if they think they are accurate. you, the homeowner, provide that incentive when you contest an inaccurate appraisal.
When contesting appraisals, provide as much evidence as you can. If your argument hinges on the condition of your house, bring pictures and as much of the paper trail as you can. take a look at market sales in your area (and how they have changed over recent years) as well. The more records, the better.
Source: http://www.dailyrosetta.com/real-estate-property-taxes-fight-bad-appraisals/21466.html
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