Tax appraised value

740 Views | 2 Replies | Last: 3 mo ago by Rexter
woodiewood1
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I have a friend whose appraisal on his property went up 50%.in appraised value. He has owned the property for 15 years. The tax office said that they are reevaluating neighborhoods over the next years. His tax appraisal for the past eight years has gone up right at 10%.

I thought that your tax appraised value can't go up more than 10 percent plus the value of any improvements and that they can "catch up" from the past.

Anyone have any knowledge of why they can go up that much.in one year?
lockett93
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AG
They will always adjust the value of the appraisal to market.

However, if the property is your homestead, they can only tax you on 10% increase over the prior year.
Rexter
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The BOHICA appraisal district does this so the politicians can say "we didn't raise the rate". A rate increase isn't necessary when the values get jacked up every year.
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