Property tax protest season is here
Every spring, property owners whose property value has increased by at least $1,000 over the last year will receive a Notice of Appraised Value (NOAV) from the county. The county's appraised value becomes the basis for your property taxes each year.
This notice contains three important values:
- Market value: What your property would sell for as of January 1st.
- Assessed value: Reduced value of your property based on limitations provided by having a homestead exemption.
- Taxable value: Assessed value minus any exemption amounts. Used to calculate property taxes for each taxing unit.
As you might expect in our robust real estate market, property values have risen a significant amount this year. Many homeowners protest their home valuation in order to minimize their tax burden.
If you'd like to protest your appraised value -- act fast.
The protest filing deadlines are quickly approaching. Information about the and protest process in our surrounding counties can be find here:
Bastrop County: May 17
Burnet County: May 31
Hays County: May 15
Travis County: May 17
Williamson County: May 17
Be ready to make a cogent argument about the market value of your property.
While no one likes paying taxes, arguments about affordability, tax increases, or opposition to taxes in general won’t get you very far. Instead, focus on debating the market value of your home.
• What’s different about your home compared to other comparable home sales in your area?
• Do most of the other homes have a pool? An accessory dwelling unit?
• Perhaps your home is on a busy street?
• Do the other properties have amazing views?
• Is your home in a flood plain?
You’ll need to submit evidence to support your request for a lower market value. Photos, surveys, and floodplain data can be helpful to support a lower appraised value. Other arguments might include that your property is unequally appraised; the appraisal district incorrectly denied your exemption application; the appraisal district failed to provide you with required notices; or for other reasons set out in the Tax Code.
If this is more than you want to tackle yourself, there are numerous companies like Texas ProTax or Five Stone that will handle the protest for you, usually taking a portion of the reduced tax amount for their trouble.
Be sure to claim any possible exemptions.
Texas offers a variety of partial or total exemptions from appraised property values, including a homestead exemption, over age 65 exemption, disability, and veterans. You can learn more about your eligibility for these exemptions and get the relevant forms using the links above.
Let us know how we can help
If there's one time of year that makes Austin homeowners cringe, it's now. Let us know how we can help as you navigate your potential property tax protest.
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