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If market is 205k and appraised is 196k is there no point in even trying to protest?

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You can always protest. They can only bump up your homestead 10% a year but they'll catch up eventually.

If you get your market value down to $196K and they don't touch your values next year, it will be a win in the long run. In my experience, HCAD picks years like this to "catch up" with most of their trailing values so next year they won't necessarily jack your market value up again.

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How are some of you going up more than 10%? Just because of home improvements you have done? I thought everyone was capped at 10% other than people who have done upgrades.

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Just bought. Uncapped.

42.34% increase.

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Same. Hating life.

land value up 60%, capped at 10%

was planning on doing a renovation this year. If I do, they'll get me next year.

30% market, 10% capped. Good job Diggity.

30% market, 10% capped. Good job Diggity.

So, as someone beginning to look to buy a home for the first time, should I go for a one that is mobile?

My old place was only 9%. I now live in Montgomery county and those haven't come out yet. It's been the same the past 3 years, but I'm scared.

So you qualify for the cap if you had homestead exemptions last year and this year. Does that have to be for the same property? If I had the homestead exemption last year on my previous home, moved and now have it on my current home (moved in the summer), do I get the cap?

DP

[This message has been edited by Revival03 (edited 3/25/2014 3:33p).]

Couple stupid questions here...if you escrow, about when do the new adjusted amounts kick in? Does homeowner just send copy of notice of new appraised value to bank once received by mail? If you successfully protest and HCAD changes the appraised value, do you just relay this info to your bank?

Man, I feel like a dumbass when it comes to this stuff.

[This message has been edited by El Mero Guero (edited 3/25/2014 3:40p).]

Where are all the people posting about their neighborhoods going up in value?? Yes, you have to deal with the increase of tax bills that go with the increase of home values.

I am just waiting for some people that cannot pay tax bills.. need some homes on sale!!

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So you qualify for the cap if you had homestead exemptions last year and this year. Does that have to be for the same property? If I had the homestead exemption last year on my previous home, moved and now have it on my current home (moved in the summer), do I get the cap?

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I don't think so. You are SOL

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Couple stupid questions here...if you escrow, about when do the new adjusted amounts kick in? Does homeowner send copy of notice to bank once received by mail? If you successfully protest and HCAD changes the appraised value, do you just relay this info to the bank?

Man, I feel like a dumbass when it comes to this stuff.

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Don't feel stupid, no one really tells you about this and you don't learn until you deal with it.

You don't have to do jack if you escrow... They'll let you know about the difference in payment on their yearly review cycle and your account can go negative until then as they will pay whatever you owe.

The tax bill isn't finalized until after the protest period, so they won't ever see the pre-protest amount.

When you do finally get the escrow analysis notice from the bank, they will give you the new rate, plus the option to pay the shortage from the previous year in a lump sum or have it tacked on over the next 12 payments. Make sure you do plan a bit for this as it can make the bill jump a fair bit if you tack it on over the next 12 months.

So, basically the city and county are planning on going on a spending binge.....

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So, basically the city and county are planning on going on a spending binge.....

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Gotta pay for Annise's wedding gifts.

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Don't feel stupid, no one really tells you about this and you don't learn until you deal with it.

You don't have to do jack if you escrow... They'll let you know about the difference in payment on their yearly review cycle and your account can go negative until then as they will pay whatever you owe.

The tax bill isn't finalized until after the protest period, so they won't ever see the pre-protest amount.

When you do finally get the escrow analysis notice from the bank, they will give you the new rate, plus the option to pay the shortage from the previous year in a lump sum or have it tacked on over the next 12 payments. Make sure you do plan a bit for this as it can make the bill jump a fair bit if you tack it on over the next 12 months.

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Thanks Brad

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Where are all the people posting about their neighborhoods going up in value?? Yes, you have to deal with the increase of tax bills that go with the increase of home values.

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I knew mine was going to go up but they jacked me up about twice as much as the neighborhood average. That's not supposed to be allowed.

Gonna be a lot of equity protests this year!

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Where are all the people posting about their neighborhoods going up in value?? Yes, you have to deal with the increase of tax bills that go with the increase of home values.

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I expected an increase to the ball park that I paid for my house, i.e. ~30% increase. But the appraisal exceed that by $40k to the tune of a 59% increase. All we did was buy the house; no renovations, no improvements, etc...

Just bought at 320k. Appraised for 425k. F me.

Started a new construction home last April for an agreed price of $465. We moved in mid October and the bank appraised the house at $500. HCAD appraised at $457.

Not sure how I got so lucky. I'm out in Cypress.

If we agree to take one for the team, can the county please tear down the Dome? The city can buy 1 ghetto apartment complex of each major neighborhood's choice.

Does anyone know why my Market Value is more than the Appraised Value?

They always matched in the past.

If your account is capped (you've had the homestead exemption consistently since prior to Jan. 1, 2013), the appraised value can only increase by 10% per year by law. You will pay taxes on this amount. They will still appraise it for its value which is the market value. You should still protest to get the market value down as eventually this crazy market will cool and they will increase your appraised value 10% at a time until it reaches market value.

[This message has been edited by chuckd (edited 3/25/2014 5:04p).]

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So you qualify for the cap if you had homestead exemptions last year and this year. Does that have to be for the same property? If I had the homestead exemption last year on my previous home, moved and now have it on my current home (moved in the summer), do I get the cap?

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I don't think so. You are SOL

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You are able to transfer Over 65 and disability homestead exemptions which have a tax value ceiling based on a ratio of the capped value to market value, but not the standard homestead exemption.

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Gonna be a lot of equity protests this year!

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Too bad they are trying to get rid of it!

Ohhh did I just say that out loud.

My bad!!!

pardon my ignorance, is an "equity protest" the same as arguing "unequal appraisal"?

Yes.

so they're trying to change the Texas Tax code? I haven't heard anything about that.

I can't imagine it would apply this year in any case.

Thanks Chuckd

Hah! Got the tax info and protest info in the mail today!

Should I just protest that the house was sold for $xxx,xxx last year, and if that fails and goes to the board hire a tax guy?

Is anyone's "market value" higher than a real market value of their house? Either way, **** the government and the stupid peasants running it.

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Is anyone's "market value" higher than a real market value of their house? Either way, **** the government and the stupid peasants running it.

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I think mine is for sure. I would take a check today for their "market value" and move out tomorrow. Happily.

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Just bought at 320k. Appraised for 425k. F me.

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Here in Dallas County they will usually reduce it to close to the sales price if you bring your closing statement to protest and you closed within the past year. Does it not work like that in Harris County?

You guys have me worried -- our first batch of appraisal notices start going out a month from today.