This really makes me think because TCAD also got the same info last year, and is probably doing it again that is why the appraisals all went through the roof.

rcannaday said:

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This really makes me think because TCAD also got the same info last year, and is probably doing it again that is why the appraisals all went through the roof.

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TCAD was slapped hard a couple of years ago for doing that...but Travis County/COA is notorious for not following laws.

Our formal is coming up next week, so TCAD preemptively offered us $60,000 reduction after previously telling us LOLZ. Took it. Much more in line with what I could have sold for on Jan 1 and is more then I offered them at the informal round. Didn't use any company so I'm pleased. It's still over our homestead cap but helps for the future.

Question.

If you have a Homestead and have the 10% limit on your home does it really matter if the CAD lowers your market value while keeping it above the 10%?

Say your value goes from 500K to 600K. Your tax limit from last year is 50K from 500K to 550K then the net effect is the same whether you get the CAD to go from 600 to 550K

Curious how bad it will be this year. Two subprime lots down the street just went on the market at double last years land market appraisals. A house also just went on the market for 44% more than their already insanely high Zillow estimate.

Some people are thinking the crazy is still full on. Hopefully TCAD won't be that crazy.

Correction +44%, not 74%

HECUBUS said:

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Curious how bad it will be this year. Two subprime lots down the street just went on the market at double last years land market appraisals. A house also just went on the market for 74% more than their already insanely high Zillow estimate.

Some people are thinking the crazy is still full on. Hopefully TCAD won't be that crazy.

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74% over the Zillow estimate!? Yeah, you know that price is going to come down soon. I recently took a client to see a house in Cedar Park. The original listing price was $999,999 and it dropped by $100k during its first 15 days.

SteveBott said:

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Question.

If you have a Homestead and have the 10% limit on your home does it really matter if the CAD lowers your market value while keeping it above the 10%?

Say your value goes from 500K to 600K. Your tax limit from last year is 50K from 500K to 550K then the net effect is the same whether you get the CAD to go from 600 to 550K

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They are never going to drop the values unless a market correction absolutely forces them too. They'll now have to base my new value next year off $535,000 versus $600,000 (like all my neighbors who didn't protest). TCAD posted the "equation" they use in their comp packet, which of course includes your previous value.

I thought of that angle after I posted. So you have second year exposure due to a base line set the previous year.

But the second year you protest and get the value down if the comps support your value. So crap shoot. And I have had my value decreased by my CAD on a couple of occasions on their own decisions. Happened in 2020, duh, and I think 2010.

House sold in two days. But was only 44% above Zillow. Zillow bumped up their estimate.

House popped up again. Appears they listed for a couple of days just to boost the Zillow estimate by $1.5 million. Weird. Now, it looks like a bargain.