Up 16%. Sure.

riverrataggie said:

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Tiffany hamil.

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Then who's the Tiffany Hamil of Tarrant County?

powerbelly said:

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I would take my appraised value today. Jeeze.

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That should be the rule, you appraise it at $XXx i should have the option to pay taxes on that or sell it to you fot that same price.

Up 16%. Oof.

CoppellAg93 said:

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My appraisal was re-evaluated in 2018 and 2020, but somehow escaped with no change last year.

I'm fully expecting a reaming of biblical proportions this year.

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Somehow my value did not change for 2023. That's 3 years in a row with no change. Not sure why, but I guess I'll take it.

What is market value vs appraised value (homestead limited)? Market value went up 70.3% in tarrant, but homestead limited appraised and taxable value only the allowed 10%.

mAgnoliAg said:

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What is market value vs appraised value (homestead limited)? Market value went up 70.3% in tarrant, but homestead limited appraised and taxable value only the allowed 10%.

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That means they think they should be able to raise it by 70%, but the homestead exemption limits them to raising it by only 10%.

So brace yourself as they have signaled their intention to raise it 10% every year until the appraised value catches up with the market value.

So protest would just be to get the 70% down to where we might not get 10% in future years? We won't be here more than 1 or 2 more years anyways.

Edit: doesn't help that a house same size as ours given a little nicer inside on half our lot size down our street sold this year for $270,000 more than this new market value. Would that hurt protest chances?

Unless you protest to keep it the same or maybe limit to a less than 10% increase. Other than that, you are right, it is just to keep it down for following years. You might as well just contest it online and perhaps the system will glitch, agreeing with your value. It doesn't hurt to protest online.

Edited to add, yeah, that comp is not going to help your case.

Denton County. 38% increase.

Anyone have a firm they have used and trust?

Out of curiosity, when there is this big of a differential in market value and assessed value, what is the value in protesting? There is not chance I can get enough off in a protest to fall below the 10% cap. It would take me several years of 10% increases to meet what Denton says is my market value. So why protest?

agchino said:

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Because in the years that you are waiting for the 10% cap to catch up to market, they can continue to increase your market value, so you will be perpetually playing catchup in 10% increments until there is a market crash.

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plus tax regimes change over time; for example, maybe they just cap tax liabilities in the future and not appraised values

Thanks. That was my thought process as well, but then I started questioning myself. Appreciate it!

Brazos Country property increased 20% from 2022.
Lee County increased 37%, and Dallas County increased 0.7%.

JFC.

So, if I'm reading this thread right, I colossally ****ed up taking a job in Fort Worth…

Decay said:

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Maximus_Meridius said:

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So, if I'm reading this thread right, I colossally ****ed up taking a job in Fort Worth…

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I mean, home values are skyrocketing everywhere. You protest to get the most advantage you can, but the appraisals are going to increase.

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Yeah, but not everywhere is doing appraisal adjustments every two years. I'm about to sell my house (in the northeast, mind you) for an estimated $150k more than I purchased it, and yet my property taxes have only increased by ~3-5% over the last 6 years. Now I'm walking into a place where I'm going to get donkey punched for what sounds like a 10% increase every year (nevermind that the property taxes are already 20% higher than what I pay now). At that rate I should be able to afford living in the metroplex for about 5 years before I have to move somewhere else...

Maximus_Meridius said:

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Decay said:

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Maximus_Meridius said:

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So, if I'm reading this thread right, I colossally ****ed up taking a job in Fort Worth…

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I mean, home values are skyrocketing everywhere. You protest to get the most advantage you can, but the appraisals are going to increase.

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Yeah, but not everywhere is doing appraisal adjustments every two years. I'm about to sell my house (in the northeast, mind you) for an estimated $150k more than I purchased it, and yet my property taxes have only increased by ~3-5% over the last 6 years. Now I'm walking into a place where I'm going to get donkey punched for what sounds like a 10% increase every year (nevermind that the property taxes are already 20% higher than what I pay now). At that rate I should be able to afford living in the metroplex for about 5 years before I have to move somewhere else...

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What other taxes does the state use to pay their bills where you live? And what are the rates?

We do have a state income tax (which TX does not). The tax situation up here is actually somewhat confusing: I have school taxes (controlled by the district, I think), plus township property taxes, plus county property taxes. I don't have the rates off hand, but I suppose it would be a good idea to do some numerical analysis on how this is going to shake out.

It's probably going to check out ok in the end, just seeing some of the posts last night sent my already overwhelmed brain into a bit of a meltdown.

It's been a while since I saw the research, but when you look at total tax cost (fed, state, local, property, car, gas, etc, etc, etc), Texas lands right in the middle of the states.

1) The 10% homestead cap doesn't apply to the first year, so your taxes should jump to your purchase price or below in your first year.

2) These jumps we are all complaining about are pretty unprecedented and will not continue, either in real estate market terms, or in terms of taxpayer/voter anger. We are already pretty much at the point of revolt amongst the tax payers.

So I don't think projecting it out as 10% increases on top of this years increases is a good projection.

And the taxes aren't increasing at nearly what the appraisal amounts are. Appraisals are rocketing up. Taxes are increasing at an average of a bit less than 3% per year if I remember correctly (roughly CPI). Not counting of course if the voting populace in your area approves a bond package. That obviously moves the needle faster.

But total taxes themselves have been pretty tame.

36% you say?

Parker County says "hood my beer."

JasonD2005 said:

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36% you say?

Parker County says "hood my beer."

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Wont be the hood much longer with that kind of tax increase. Riff raft be gone!

Tarrant county...but tagging on

Does anyone know if you protest online and don't get/receive an offer, can you still hire an agent, or do you have to protest yourself at that point?

Has anyone ever been successful at getting a settlement lower than an initial reduction offer?

I protested our valuation on a brand new build in Parker County - it came in at almost $80k more than we paid for it in December 2022. Properties around us that didn't close until 2023, after the assessments were done, are anywhere from $100k to over $200k LESS than ours, even with similar sales prices. I was sent a settlement offer before I could get all of my evidence put together, they lowered it to slightly below our sales price - should I take it? Do I stand any chance of actually getting it lower by going to a hearing? I have to decide by tomorrow when this offer expires.

It's just incredibly frustrating knowing that the larger house across the street that closed a few weeks after mine was valued at $200k less than mine because they closed in 2023. It's going to cost me thousands more in taxes a year than them.

You should be able to go up to the county at any time before your hearing and meet with someone, at least in Denton County. This is how I have the most success.

Years ago I was able to get it down below my taxable amount via just the online protest, but that only worked once. I went in last year and got them to come down quite a bit, although it didnt reduce my overall tax increase.

https://podcasts.apple.com/us/podcast/yall-itics/id1486881900?i=1000612552736

if you have any interest in local/texas politics you should subscribe to this podcast and dvr the show.

How's everyone's protest process going? Anyone having more, or less, success this year?

Collin CAD here. 90k increase in value and no relief on protest. That being said… I could sell it for another $250k above but still… the principle!

Collin here. still waiting on protest hearing...only 4 people on my street of 28 are protesting. there are more people on my street that won't apply for their homestead exemption than those that are protesting.

Rent house protest - reduced 6.4% through ARB from initial 21.5% DCAD increase. Total increase was +13.8% y/y.

It's now assessed $20k over what I paid for it 3 years ago.

I did not have much to stand on, just found inconsistencies in their values when it came to other houses they compared mine to. Appraised offered to cut it by $20k before I spoke, and I got another $15k just for not sounding like a dumbass and saying sir and ma'am to the ARB Board members.

Collin County. Reduced by 6% by just online protest. Took their offer. (-$39k) I also didn't have much to stand on as I'm the least expensive house on my block. I was so shocked they offered less, I took it and ran.

Got my settlement from Denton County. They knocked $30k off mine. Still didn't save me any $ on my tax bill due to my homestead capping $124K but at least next year I'm lower for next year.