Tips & Tricks for Appealing Property Taxes

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Although 75% of property tax appeals are successful and save homeowners an average of $450, only 7% of homeowners appeal annually. Research indicates five primary reasons homeowners do not appeal:

The process seems overwhelming and they do not know how to appeal.

They do not think an appeal is likely to be successful.

They think their home's assessed value is below market value and there is no basis for appealing.

They do not understand they can appeal on unequal appraisal, (being assessed for more than similar properties).

They are busy and do not want to set aside time, given the presumption that "you can't fight city hall."

Consider an appeal for a $150,000 house where the value is reduced by 5%. This would reduce the assessed value by $7,500 and the property taxes by $225, based on a 3% tax rate. Since the typical appeal hearing takes less than an hour, these are meaningful savings for the time involved. Regularly appealing your property taxes will minimize the value, so you are assessed at the low end of the range. Most property tax appeals are resolved at the informal hearing, which is the first step in the process.

Questions?

E-mail O'Connor & Associates, or call 1-877-4-TAXCUT.

Reduce your property tax by contacting Oconnor & associates. Oconnor & associates can represent you at the Williamson central appraisal district.

About the Author

Patrick C. O'Connor has been president of O'Connor & Associates since 1983 and is a recipient of the prestigious MAI designation from the Appraisal Institute. He is also a registered senior property tax consultant in the state of Texas and has written numerous articles in state and national publications on reducing property taxes. He continues to set the standard in direction and quality of our appraisal products, adding services ranging from business valuations and business appraisals to cost segregation analysis for income tax reduction.

http://www.poconnor.com

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