That was supposedly the case last year and Jubally said to not even bother. However, I submitted a short summary of the Jubally report in a short text and it was accepted. Hopefully, that is expanded this year based on what was posted.

It looks like HCAD is finally stuck between a rock and hard place here. They have a shortened schedule on both ends but still have to get through 90% of the appeals.

I think they are going to be more favorable settlements on the online appeals just to get their numbers in. They can't have 400k people demand a formal hearing if they are shorting the informal process.

one MEEN Ag said:

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It looks like HCAD is finally stuck between a rock and hard place here. They have a shortened schedule on both ends but still have to get through 90% of the appeals.

I think they are going to be more favorable settlements on the online appeals just to get their numbers in. They can't have 400k people demand a formal hearing if they are shorting the informal process.

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Well, if they are smart, they will recognize that the market values are very likely to be going down significantly through the latter half of this year with $20/bbl oil and unemployment skyrocketing.

txags92 said:

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one MEEN Ag said:

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It looks like HCAD is finally stuck between a rock and hard place here. They have a shortened schedule on both ends but still have to get through 90% of the appeals.

I think they are going to be more favorable settlements on the online appeals just to get their numbers in. They can't have 400k people demand a formal hearing if they are shorting the informal process.

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Well, if they are smart, they will recognize that the market values are very likely to be going down significantly through the latter half of this year with $20/bbl oil and unemployment skyrocketing.

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They look at the market as of 1/1/2020. Oil was on the decline but the corona virus was not on the radar. The values you see are based off that date. Next year it may make in impact.

txags92 said:

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one MEEN Ag said:

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It looks like HCAD is finally stuck between a rock and hard place here. They have a shortened schedule on both ends but still have to get through 90% of the appeals.

I think they are going to be more favorable settlements on the online appeals just to get their numbers in. They can't have 400k people demand a formal hearing if they are shorting the informal process.

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Well, if they are smart, they will recognize that the market values are very likely to be going down significantly through the latter half of this year with $20/bbl oil and unemployment skyrocketing.

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The thing is the valuations are for January 1st, before the SHTF. Those who live in lake Dunlap got a taste of that in 2019 as they tried to say the broken dam effected their property values. Yeah it did, but after January 1st- so pay up.

Hopefully a city hurting is different then a couple hundred homes.

Yeah, I know what the values are based on. But I suspect they are going to be a bit reluctant to put the hammer to people in protests when they know a bunch of them are losing jobs and close to being foreclosed on.

I could see online going better as they don't want crowds in the office.

Even if things clear up, I don't see people rushing to get back into crowded waiting rooms.

~egon

Does CAD ever budge on land value? We have 2 empty lots and HCAD has doubled their value, doubled in the span of one year. Is a protest even possible?

Jerzzy said:

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Does CAD ever budge on land value? We have 2 empty lots and HCAD has doubled their value, doubled in the span of one year. Is a protest even possible?

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Unless you have a recent closing statement(which doesn't even work) you are basically screwed. One way the CAD holds value is increasing the land value bc they know the ARB will not touch it.

Mr. McGibblets said:

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Jerzzy said:

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Does CAD ever budge on land value? We have 2 empty lots and HCAD has doubled their value, doubled in the span of one year. Is a protest even possible?

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Unless you have a recent closing statement(which doesn't even work) you are basically screwed. One way the CAD holds value is increasing the land value bc they know the ARB will not touch it.

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On the contrary, I would still protest it. HCAD has flipped back and forth between emphasizing structure and land value. They'll do anything to get the topline to increase.

Doubling in value in a year is nonsense.

All of the companies that protest for you auto enroll you for the following year. If you want to use a different company or not use anyone at all, you will have to cancel in writing/email to O'Connor.

+8% in -077 which is comical. Houses have been languishing on the market for months on my street and in my neighborhood. My next door neighbor listed for so long at as low as 10% what he bought it for 5 years ago and he still couldn't sell it. The flood is still taking a toll on our neighborhood house values, even for houses that didn't flood. There's a ton of inventory of people selling houses now that are repaired.

I bought a new construction home on 11/2019 and the assessment came in 16k over what I paid for the home. First time homeowner here not sure how to protest. Should I just bring in my appraisal?

You should be able to use the closing statement to get the value reduced. Use the iSettle option and skip going in.

Just read about that option. Thanks for the quick response!

Story about HCAD on KPRC this morning. Stats provided by HCAD said 74% of properties increased in value by an average of 5%, 10% went down in value, and 16% stayed the same.

one MEEN Ag said:

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Mr. McGibblets said:

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Jerzzy said:

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Does CAD ever budge on land value? We have 2 empty lots and HCAD has doubled their value, doubled in the span of one year. Is a protest even possible?

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Unless you have a recent closing statement(which doesn't even work) you are basically screwed. One way the CAD holds value is increasing the land value bc they know the ARB will not touch it.

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On the contrary, I would still protest it. HCAD has flipped back and forth between emphasizing structure and land value. They'll do anything to get the topline to increase.

Doubling in value in a year is nonsense.

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No way. You'd have to prove somehow that your dirt is worth less than your neighbor's next door. Practically impossible.

Looking through my comps this weekend to see if I had a case to argue my 10% increase. Based on actual sales comps (same # of floors, sqft +/- 300, same beds/baths, year built +/- 3, same neighborhood) from 2019 my value should have actually been lowered by $3k from last year rather than the 10% increase I got. Looked at the 2020 valuations on those houses sold in 2019 and all but one were higher than the actual sale price. Submitted an iSettle hoping they were going to want to keep people out of the building this year. I got what I asked for in my last iSettle but that was a smaller amount. Will see how it goes this year.

I am up a little over 7% this year. Went to pull comps in the neighborhood and it looks like I am SOL, in fact they probably have a case they could have raised it more. Still gonna protest, **** it

I try to find an angle every year. My go-to's are sales comps and neighbor evals. Occasionally both given me nothing but I can usually find atleast $2k to throw into a protest.

Is Jubally working for anyone else? I put in my info, but was never sent anything. A buddy said the same thing.

third coast.. said:

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stupid Galveston county still doesn't have values out.

also, anyone who has used oconnor in the past, I got some email talking about how I am auto enrolled to have them protest again for me, but I haven't even seen my values. Unfortunately I cant get their site to load. do you have to opt out of having them protest again?

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Yes, you have to opt-out.

+13% increase and 18% above LIST price for 3 identical houses adjacent to me.

Might be a question for the RE board but figured since this is HCAD related I'd post here first...

Wife and I are in the middle of a refi that started about a month or so ago with AmCap trying to catch these good rates. Went from an 80/10/10 with 4.5% (80 loan) on a 30yr fixed to a 2.45% on a 15 yr. My question comes from the appraisal we just got for the refi.

HCAD values came out a few weeks ago in my hood. They've been rising ever since we finished the build. (2015). The market/appraisal value is currently about 415k. Since this whole COVID crisis started my pregnant wife has been very cautious about extra visitors and the like. When it came time for the appraisal she fought to get them to do an "external only" appraisal. We had to provide a few pics of the interior to the appraiser. It took about two weeks for the lenders/investors/whoever else to approve it but it went through and we received the appraisal report this morning.

Appraised value is 360k. So with a 55k difference from the HCAD value do I have a leg to stand on with a protest? Should I use Jubally or go through it on my own?

I just checked Jubally today and under "pricing" it said they weren't taking new orders until all info came in which should be expected by end of April.

That won't help us who have already been notified and had the 30 day period to protest clock started.

Isnt it 30 days or May 15th, whichever is later?

Aggie71013 said:

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Isnt it 30 days or May 15th, whichever is later?

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Correct.

Quote:

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You can file until May 15, 2020, or 30 days after the date this letter was mailed, whichever is later.

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Good deal. I had 30 days in ny head. I guess because I didn't get notified until way late last year the May deadline didn't matter.

Thanks for making me panic

FBCAD just posted.

2% reduction

Question for a friend who's wanting to protest:
He just bought his house last year (for what should have actually been below market value - bought from family) and completed pretty extensive renovations as well. Pretty large jump in the valuation. What is the best argument to use? Can you say market value is purchase price + renovation expense?

Does he have pictures before the renovation and is the renovation just indoors?

If he just bought his house and it's a great deal, just submit the house sale price and shut their mouths. They don't know about the renovations.

I would go as far as an informal meeting. Being sworn in at a formal meeting with extensive home renovations is an easy way to have your valuation raised.

Jubally report was finally up and running for me in 77018