Ryan the Temp said:
Quote:
If they have to change the comp value to be different that what they literally taxed that comp, it's more subjective and biased than a homeowner submitting the tax accessors factual numbers.
During my protest on Monday I literally told the appraiser, "I get that you folks like to use this magic math that says if this comp had the same type of garage and if this comp didn't have a pool, etc. then it would be worth x amount, but I don't deal with hypotheticals. I deal with what actually exists on the ground, and what actually exists on the ground for these comps is not at all the same as my property. That's why all but one of your comps are completely invalid."
He threw out 4 of the 5 comps as a result and I ended up with a valuation that was $3,000 more than the one valid comp because I got new siding and a new roof a couple years ago. All said, i got my value down $26K below the noticed value. It wasn't what I wanted, but I'll take it.
I use the exact same argument about their comps every year and it always works. Last year I got all five comps thrown out.
Had my formal meeting earlier this week, and was pleasantly surprised.
I used the RTT method - refuted their comps were applicable using their monkey math (4 of their five sales were outside my hood too), brought my own comps that I said were more in line.
Then showed the land value for my comps were the same as mine. That got me to the value of the actual structure and I argued there was no way my structure was worth 2x my comps.
I haven't read this whole thread, so if this has been discussed previously I apologize - When HCAD uses comps to value a property they use "noticed market value". Before my meeting I checked HCAD and all 5 of the comps used in my evidence packet had their market value lowered (yet it was never updated in my evidence packet). So I argued this was proof that they had pulled overvalued houses to come up with my homes market value in the first place.
My iprotest offer was $20K and got almost a $110K reduction in my formal hearing. I'll be back next year again...