Texas Property Tax Tips
    Advice and suggestions to help property owners achieve fair & equal assessments and reduce property taxes.
Tips on Market Value Appeal

The countdown to May 31 - the last day Texas homeowners can submit an appeal to protest their property taxes - is growing closer by the minute. Each year, Texas homeowners pay a collective total in the millions on their property taxes. Yet, there is a 70% chance of lowering taxes when an owner appeals the assessment!

Comparable sales are the cornerstone of a market value appeal for a home. The exception may be a new house where cost is an important factor. Sources of comparable sales data can be found in the House Bill 201 package obtained from the appraisal district and MLS sites.

By definition, a property's market value is the price for which it would sell when both buyer and seller want the best price and neither one is under pressure to buy or sell. To develop a market value appeal consider the following factors:
  • New-home discounts - Recently purchased homes in subdivisions where builders are active, or near subdivisions where builders are still active, often sell for 5% to 15% less than their initial purchase price. Researching data for recently sold homes sold by the initial owner (versus the builder) will document this discount.
  • Livable versus sellable - When preparing to sell a home, homeowners will be advised by their realtors to perform cosmetic upgrades. If your home has deferred maintenance problems (rotten wood, foundation problems, ect.) these would be important factors to document when preparing for your property tax appeal hearing.
  • Livable versus sellable for a two-year-old home - A discount may be appropriate for the cost to prepare a home for sale and for the differential for new homes versus slightly used homes (in areas where builders are still active).
Click here for FREE tips & tricks to reduce your property taxes

Questions?
E-mail O'Connor & Associates, or call 1-877-4-TAXCUT.

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O'Connor & Associates -- Your Key to Real Estate Value
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Property Tax Tips

  • Protest every year, and use all steps in appeal process when necessary


  • Protest both market value and unequal appraisal


  • Obtain data to prepare for hearing


  • Be aggressive; demand results

About O'Connor & Associates

As Texas' largest property tax consulting firm, O'Connor & Associates has the expertise and the manpower to help you lower your property taxes. In 2007 O'Connor & Associates reduced our Harris County clients' assessed value in 75% of residential protests and 80% of commercial protests. O'Connor charges no flat fee and no cost to the client unless property taxes are reduced. To hire O'Connor & Associates to reduce your property taxes, please visit www.cutmytaxes.com.