I'm going to go ahead and be the idiot here: first time homebuyer and aware of the Homestead exemption. Doesn't Homestead cap your tax appraisal increase at 10%/year? Why all the complaining about market value? Go easy on me given my experience…
My market value moved from $425K to $524k. Let's ignore the fact that there is no comparable sale that would support listing my house for $524k. Even if my market value doesn't go up another dollar, HCAD will continue increasing my appraised value by the maximum 10% until my appraised matches market. They will continue to do this even if the market declines. The only way to get your market value adjusted is to protest.schmidthead said:
I mean theoretically no, but my question is more about people complaining about market value when tax appraisal values are capped. I've seen a lot of complaining about market values, which shouldn't impact homestead/HCAD values, no?
schmidthead said:
But you're not taxed on a theoretical market value… you're taxed on the appraisal value. What am I missing here?
schmidthead said:
The amount I pay taxes on?
schmidthead said:
Yes, I understand math, probably more than most of the people on this board. But *****ing about market value vs tax appraisal value is ridiculous, fear mongering.
schmidthead said:
Yes, I understand math, probably more than most of the people on this board. But *****ing about market value vs tax appraisal value is ridiculous, fear mongering.
schmidthead said:
Yes, I understand math, probably more than most of the people on this board. But *****ing about market value vs tax appraisal value is ridiculous, fear mongering.
SnowboardAg said:
Technically if the appraised value is fair to you, you can leave the market value as is and let a year pass (being limited to your 10% cap). Then just see what happens next year (likely the market value won't adjust in your favor).
Mr. McGibblets said:SnowboardAg said:
Technically if the appraised value is fair to you, you can leave the market value as is and let a year pass (being limited to your 10% cap). Then just see what happens next year (likely the market value won't adjust in your favor).
This is terrible advice to give. The first thing a HCAD appraiser checks is the prior year. If you didn't protest the prior year and then go the next year and fight and want a value lower than the previous year they will laugh at you. They will literally say "well you didn't have an issue with it last year so why do you have an issue this year". Every damn year you protest.
No. Matter. What.
aggiemike02 said:
how did you pull "the data for your neighborhood"?