Values are here.

We went up $48,187. It's higher then our purchase price last year. At least we have that going for us.

Ours went up $82k... which is much higher than the 10% homestead cap increase (if I'm interpreting the homestead cap correctly).. unclear how that works. New value is much higher than our neighbors (+10-20%).

Insane.

Up 8.6% in 78723

Zillow estimate is 40% above TCAD's. Zillow's estimate has increased around 19% since the first of December. However, there was a $68,000 increase around April 3 which is hard to believe.

captaingus said:

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Ours went up $82k... which is much higher than the 10% homestead cap increase (if I'm interpreting the homestead cap correctly).. unclear how that works. New value is much higher than our neighbors (+10-20%).

Insane.

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Your appraised value can be whatever they want, the assessed value is with the HS cap (and what taxes are assessed on).

You still want to fight the appraised value since TCAD can play catch every year until appraised = assessed.

As long as you didn't purchase in 2020 or make major improvements to the house, your 2021 assessed value should be:

2020 assessed value + 10% of 2020 assessed value

Mine is exactly 2020 assessed value + 10% of 2020 assessed value.

jopatura said:

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captaingus said:

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Ours went up $82k... which is much higher than the 10% homestead cap increase (if I'm interpreting the homestead cap correctly).. unclear how that works. New value is much higher than our neighbors (+10-20%).

Insane.

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Your appraised value can be whatever they want, the assessed value is with the HS cap (and what taxes are assessed on).

You still want to fight the appraised value since TCAD can play catch every year until appraised = assessed.

As long as you didn't purchase in 2020 or make major improvements to the house, your 2021 assessed value should be:

2020 assessed value + 10% of 2020 assessed value

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There isn't any difference between our appraised value and assessed value in my scenario. We bought in 2019, got married later in the year, and refinanced last year (2020). With the refinance, we updated my wife's last name on the ownership. I'm guessing this has hosed us on the 10% HS cap, since ownership "changed"?

That I don't know. I would definitely ask them about it though. Did you have to file for a new homestead exemption?

jopatura said:

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That I don't know. I would definitely ask them about it though. Did you have to file for a new homestead exemption?

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I would imagine you do. It is a change in title.