Sigh.

Market value up $35k.
Appraisal value up $24k. Exactly 10% increase

Last year I used a local real estate agent, Chandler Crouch, who did a mass protest for lots of local people. Problem is, he didn't achieve the success rate of the previous year where he managed to "crack the code" of the Tarrant County appraisal district.

Tempted to just shoot for an online protest on my own, but don't want to either shoot too low and get rejected, or shoot too high and short change myself on a reduction.

Anyone trying to do an online protest this year? Maybe we can post results and try to figure out a max percentage reduction that the online system accepts.

I bought very low for my neighborhood in 2013. Failed online protest every year w 10% increase every year. Also used Crouch last year and got another 10%.

Just checked Tad.org. Another 10% this year

Own a house in Fairmount I rent out so no Homestead. Owned the house since 2006. I got hammered with a 28% increase this year. Never seen it go up that much. Last year was the worst at maybe 15% but opposed and got it back down to 10%.

Usually every other year I'd see a resoonable increase so thinking I might get by with a minimal increase this year but I got flat out hammered this year. Never seen it this much in a single year.

Another 10% for us, too

If these increases are real, why are we invested so heavily in equities?

Timely article in the DMN this morning...

Cowtown leads Texas in gains

Quote:

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While Dallas-area home price increases trailed the national rate, the Fort Worth area had a more than 5.7 percent year-over-year rise.
Fort Worth had the strongest home price growth of any major Texas metro.
Prices were up by about 3.4 percent percent in Houston, 3.7 percent in Austin and rose almost 5 percent in San Antonio.
CoreLogic is forecasting that nationwide housing values will grow by 4.7 percent during the next year.

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I did online protest this morning and was successful. My proposed value was below either the comps or equity value shown online. I typically just set at the lower of those two and it has always been accepted. But that wouldn't work this year.

So... I did ~1.5% below the lower of the two values. This was still up 2.5% from last year. Was accepted.


A friend was in the middle and tried to take off ~4% from his proposed value. It was rejected, but online offered 1% less, which was essentially his equity comp from online (the lower of the two).

I gained $60k in market value in one year!!!! 80% increase in value since 2014, and 100% since 2012. That's insane. I don't have a mansion, just a normal 2.5k sq. ft. house in Hurst.

How do people on fixed income cope with these kinds of tax increases? If I listed my house for what TAD thinks its worth, I'd get laughed at.

Im in the same boat. I bought a new house last summer and the new appraisal is over 20% more than last year and way more than I actually paid

My monthly taxes are now officially greater than my monthly mortgage payment.

Here.

I did online protest last year which was successful enough. I'll do it again. The year before I hired someone and got nothing.

My rent house is valued at 45% higher than what I bought it for in 2014. Thinking about taking a contract down there for 10% off TAD value and begging the board to buy it. Insane!!

wbt5845 said:

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My monthly taxes are now officially greater than my monthly mortgage payment.

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Same here

My market value is 49% higher since 2015. Ridiculous

My parents house didn't increase a single dollar from last year.

My brother lives in Berkeley and completed fairly extensive remodels during 2018, and his valuation somehow went down...

59% increase in market value over the last 5 years. Need to remember to file a protest this year!

Everyone is piling on before property tax reform kicks in.

GrapevineAg 1998 said:

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59% increase in market value over the last 5 years. Need to remember to file a protest this year!

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55% increase in market value this year (Ryan Place)! Won't need a reminder to protest.

Isn't it capped at ten percent per year now?

The amount they can assess your taxes for is capped at 10% increase per year, however they can peg your market value however high they want. It just means you will get a 10% tax increase every year until your taxes catch up to your market value.

agchino said:

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The amount they can assess your taxes for is capped at 10% increase per year, however they can peg your market value however high they want. It just means you will get a 10% tax increase every year until your taxes catch up to your market value.

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Yeah, I've got several annual 10% increases staring me in the face unless there's a huge recession.

10% is only capped if you have the Homestead exemption. I believe it also applies for those over 65. If it's a rent property or you're not applying Homestead because you use it on another property that 10% cap doesn't apply.

I did TAD online protest. I suggested 90% of their value. The counter was 96%, which I accepted. Better than nothing.

We are buying a house right now at well over TAD value. The occupants have been enjoying the 65+ yo exemption and the HS exemption for quite some time....Any hope for us to have it valued at something below what we are buying it for?

SuzyQ06 said:

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We are buying a house right now at well over TAD value. The occupants have been enjoying the 65+ yo exemption and the HS exemption for quite some time....Any hope for us to have it valued at something below what we are buying it for?

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Maybe. It's a crap shoot. It will jump right up to your surrounding houses value though. That is for certain.

Those $60 MM football stadiums aren't going to pay for themselves.

Where are all those teachers beeching about not getting enough pay?

Its an older neighborhood. I'm pretty certain that the neighborhood is "turning over" but that we are towards the "front" of that turnover. I think our neighbors are all in their 60s/70s...and their house values are lower-ish.

There's two different values - market and appraised. Appraised factors in any exemptions. The minute it sells that appraised value is gone and it jumps to market. The new owner doesn't benefit from the previous owner's exemptions keeping their annual tax bill lower.

Chewy said:

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There's two different values - market and appraised. Appraised factors in any exemptions. The minute it sells that appraised value is gone and it jumps to market. The new owner doesn't benefit from the previous owner's exemptions keeping their annual tax bill lower.

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Yeah, it's a bit of shock when you buy a home and then following year the Market Value jumps 80% in one year to catch up.

Chandler Crouch was able to help me this year. Effers still hit me with a 10% Appraisal hike, like every other year since I bought the place in 2013. But Crouch was able reduce their Market Value increase from 17% to 10%.

If you you haven't appealed yet, he's free & worth a shot.
http://www.freetaxprotest.com/

Thanks for that link to Chandler. He's not taking anymore protests for 2019 (especially since this is the last day), but his video for tips was really helpful. Was able to calculate 99% of the lowest number as his recommendation to get auto accepted for my online protest. I'm sure I could have protested more, but a $30k reduction in my value is great to me and saves me a few hundred bucks.

I am using PropertyTax.io based on an article from the DMN. Writer actually lives in Tarrant. Works on data from Dallas, Tarrant, and Denton counties.

Pretty neat little site that lets you put together comps and add pics. I had a hearing date next week but pushed it back since repair estimates are taking longer than expected.

Will prob try the informal meeting once I have all my info in the report. $75 for the Gold package that gives all their data/reporting power but you do the legwork.

Anyone ever gone in to protest in front of the group? Are written repair estimates needed (or preferred)?