I fought (and won) before the arbitration board a couple of years ago which held my value for that year and the next year. Now this year they've bumped me a remarkable 36% which comes out to over $350/foot. Looking forward to spending hours fighting again. God bless America.

BiochemAg97 said:

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ukbb2003 said:

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dubi said:

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ukbb2003 said:

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Brazos CAD has lost their ever living minds. In Southwood Valley, total value went from $386k to 602k on a 33 year old house. I couldn't even come close to selling for $602k

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I suspect that is a typo in their system. Call them.

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I just checked my street on Brazos CAD, all seem to have skyrocketed like mine. At 602k, they are putting my house at $222 per square foot. That is new build prices. It's insane.

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For all those thinking the appraisals are insane, ask a realtor to get you the comps for your house and run the adjustments for your house. You can challenge based on the sales price of the comps in the area.

You may be right and have a great argument for contesting the value, or you may be surprised at what you could sell your house for.

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I currently have a house in College Station listed for sale.
The listed price is 5k below the 2023 BrazosCad appraised value. My realtor is getting very little activity on the listing. The 2024 Appraised value according to Brazos County is 45k higher than the listed sales price.
For years I have believed they are pulling their appraisals from their backside.
Last years board hearings were a joke. Two rubber stamping exactly what the county recommended and a third extremely frustrated honest individual who could not get a word in.
Something has got to change.

Zero chance my house would sell for anything close to what they have now appraised it for. In fact, zero chance it would sell for what they appraised it for last year, and now it is 25% more! Oh, but wait -- we're all supposed to vote for the school bond because poor school hasn't been able to take care of the field house over the years so now it is full of leaks and has to completely be redone. Wish I could re-do my house on the taxpayer dime!

You know what has leaks? My house. You know what needs work? My house. I don't have the money to maintain it as much as I would like, yet they think it went up 20% last year and 25% this year.

It is all but impossible to protest the appraisal without comps, but I don't have a special realtor friend who can give me comps. All I know is houses near me have sat on the market for many months with asking prices far less per square foot than they think my house is worth. I tried using an online protest company last year. Jack Squat.

How do we change out the people behind the extortion (oh I'm so sorry, I meant...) appraisal district?

Article in the Houston Chronicle this morning with the following headline:

Nearly half of Harris County home values dropped in 2024, early data shows. Here's why.

Quote:

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Most Harris County homeowners who have gotten 2024 property appraisals saw either no change or a decrease in property values, according to early numbers from the Harris Central Appraisal District.

Property appraisal notices have gone out to the majority of the 1.2 million total residential houses in Harris County, said chief appraiser Roland Altinger.
VIDEO: Chief appraisers answer reader questions about property appraisals and protests
The appraisal district sends notifications of appraised value, which are later used to calculate property taxes, to homeowners throughout the month of April.

Of the values already sent, appraisal district data shows about 13% of homeowners saw no change, 48% saw decreases in appraised value and around 40% of homeowners saw increases.
This is in contrast to the past two years when nearly all homes in the county experienced appraisal value increases.
To determine these year-over-year changes, the Chronicle looked at the HCAD-appraised property values for each year, before any exemptions were applied. Property owners still have time to protest their appraised values, which could lead to changes in some percentages later in 2024.



The explanation comes down to mortgage rates, Altinger said. At a current average of around 7%, mortgage rates are almost double what they were in 2020.
Ideally, he said, homes will be valued by appraisal district at what they could sell for at fair market value. If homes aren't selling, that drives a potential sale price down and in turn drives the tax appraisal value down.

"My job is to put market value on all the 1.9 million (total real estate) parcels in Harris County," he said. "I'm here to fairly allocate that tax burden."
According to Texas law, the property value from the appraisal district must be within 3% of the property's potential sale price on the real estate market. Altinger said appraisers are diligent in making sure the numbers match.
KATY INSIDER NEWSLETTER: Never miss a story with our twice-weekly newsletter
Recently elevated interest rates have deterred home buyers, he said, resulting in a static market compared to previous years.

"If you go back a year ago, interest rates were 2.5-3%," he said. "For two years, 2022 and 2023, the market was the hottest I've ever seen in my 40-plus years in this business."
Simply put, those low interest rates drove home values up, which in turn drove market value up, resulting in higher tax appraisals in 2022 and 2023.

HELP WITH PROTEST: Should you hire a firm to protest your property appraisal? Here's what to know
Higher interest rates have caused the inverse. The Houston Association of Realtors in April stated Houston-area home sales fell 7.5% year-over-year in March and suggested mortgage rates around 7% could be to blame, the Chronicle's Marissa Luck reported.
Compounding the issue, Altinger said, is that salaries have not increased commensurate with interest rates.

"People have the same amount of money coming in each month, but purchasing power has not increased," he said. "People can't afford as much house as they could two years ago."
The preliminary numbers reported by the appraisal district do not represent all appraisals for 2024 and will be updated.

TAX EXEMPTIONS: You might be paying too much in property taxes. These exemptions help
Correction (April 26, 12:04 p.m.): This article has been updated to reflect the correct title of the Harris Central Appraisal District.

April 26, 2024

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I am curious why ours is sky high and Houston is going down?

Because our appraisal district is out of touch with reality, the market has changed!!

I am totally going to use this as evidence for helping to protest my values.

You have one appraisal district recognize that interest rates going up brings values down. But that memo seems to have been missed by Brazos CAD.

Let alone the 3% of fair market value and if a house is sitting/not selling, you can understand why (interest rates) so your jacked up value is actually total BS.

I was on the ARB (appraisal review board) for Brazos County for 3 years... I had to step down because it was during the busiest time of year for me ( I am a REALTOR) but I am very passionate about property taxes and the fear of taxing homeowners out of homeownership. I can answer any questions you have.

My brother in law works for a firm that challenges appraisals in Harris County. Last night, I sent this thread to him and said, "you've got a business development gold mine in Brazos County."

KatieR said:

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I was on the ARB (appraisal review board) for Brazos County for 3 years... I had to step down because it was during the busiest time of year for me ( I am a REALTOR) but I am very passionate about property taxes and the fear of taxing homeowners out of homeownership. I can answer any questions you have.

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For a homeowner who feels that their property is appraised significantly higher than fair market value, what documents, besides comps, should be included in a protest to make it more likely the protest is successful and the appraised value is lowered?

Somebody should proof that flyer.