Aren't you happy with Property value? Want to protest/challenge the property value?
- Go to https://dentoncad.com
- Search for a property
- Analyze your property details like below (may be more other details)
- If you have applied the Homestead exemption, download the application here and submit the doc with CAD office. Ensure to have your driver license with your home address. If you have already applied, you would see below on your property.
- If you are not happy with the property value, Click on Find similar Properties.
- After clicking 'Find Similar Properties', you would see something like this. And if you see a comfortable value from suggestions given by CAD, you can take the screenshot and submit the protest. This data has been retrieved based on the sqft on your home.
Did you receive
your Property Tax Statement from your Appraisal district? Are you thinking of protesting/Challenging the property value received from CAD?
See below for some helpful things on how to prepare yourselves for this.
Most
of the details are known, if you see your property is appraised more than 10%,
then you would see 'Homestead Cap'
value, which is calculated like below.
Eg.,
Property
Value (2017) - $450,000
Property
Value (2018) - $510,000 [450,000 * 110% = $495,000].
In
the above example, property value has been appraised more than 10% (above
$495,000), so homestead cap will be $510,000 - $495,000 = $15,000.00.
Year
|
Property Value
|
Homestead Cap
|
Taxable Value
|
2017
|
$450,000
|
NA
|
$450,000
|
2018 - Sample1
|
$495,000
|
NA
|
$495,000
|
2018 - Sample2
|
$471,000
|
NA
|
$471,000
|
2018 - Sample3
|
$510,000
|
$15,000
|
$495,000
|
Reason
behind this is, as per State of Texas law, Taxable value for the property
value cannot be taxed more than 10%. Any
amount beyond 10% will be adjusted towards the Homestead Cap, which is good for current year as you would be paying taxes
on Taxable value not Property Value. BUT not good for future, as the
property value remains high.
You
can see the taxable value under 'Estimated
Taxes' section.
So, aim is get the property value down
as much as possible.
Note: You don't need to reapply every year.
Observe
the suggestions from CAD shows a BIG variance, you might want to consider
this. By now, you will know what kind of market data the Denton County
Appraisal District has. And you are all set to do a protest.
- OPTION1: You can walk-in to the CAD office and meet appraisers (NOT the Board) and they are generous enough to reduce the property value by comparing the market values including the median market.
- If this is the first year of property taxes, you can submit the HUD document so they will adjust to the sale price.
- OPTION2: If you are not happy with CAD provided data, then you can reach out to realtors. There are realtors who can help you get the free comps (Comparisons) for your property and you can submit those docs while protesting.
- Name (on Nextdoor): Kellye Demski-Kuklin; Kellye Demski-Kuklin Realtor
- Travis Mears; Renee Mears Realtors, 214-876-3966. Email: travis@reneemears.com or tmearsuark@yahoo.com
- OPTION3: You can hire a tax protest consultant (you would be receiving many letters during this time), who can work for you to reduce the property value either by taking their fee or some percent of the reduced property tax,…. Etc, you can work with them.
- OPTION4: You can directly work with ARB (Appraisal Review Board) by scheduling an appointment with them after protest. You would still need to work on all the comparisons and justification or strong reason on why your property value needs to be lowered.
Best Regards
Gangadhar Kotu
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