When
property tax notices of assessed value are sent, many assessors advise property owners;
“just because your assessed value went up doesn’t mean your property taxes will.”
Property owners should appeal every property every year, regardless of whether the initial assessed value is up, down or flat from the prior year.
Property owners are not allowed to see the evidence file for their property unless they protest! How can you determine if the appraisal district guesstimate is accurate without seeing the evidence?
The canard of “just because your assessment rose doesn’t mean your taxes will” is generally incorrect.
Let’s consider a simple example:
House value at $250,000 in 2020
Assessment increases to $275,000, in 2021.
The aggregate tax rate 2.7% in 2020 and 2.65% in 2021
2020 property taxes are: $250,000 x 0.027 = $6,750
2021 property taxes are: $275,000 x 0.0265 = $7,288
Property taxes rose by over $500 in just one year when the assessment rose and the tax rate fell.
So, now you know what to do the next time you hear, “just because your assessment rose doesn’t mean your taxes will.”
About the AuthorPatrick O’Connor has been active in reducing property taxes, providing expert witness testimony and appraising commercial real estate property since 1983. Pat is active in publishing analyses and data with respect to the real estate market, while being a highly regarded media spokesperson for the real estate community. He holds a MAI, the highest achievable designation from the Appraisal Institute, and is a licensed senior property tax consultant. Pat earned a Master of Business Administration from Harvard University. In 2001, he authored the first definitive consumer guide to Texas property taxes, Cut Your Texas Property Taxes.