This. I just got the largest increase in the 15 years we've been here.
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Home appraisal - more than I paid for the house
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This. I just got the largest increase in the 15 years we've been here.
Sadly no. As others have said, you can protest and have already asked for my appt. Last year, It was actually accurate more or less. This year it went up 20k and no way I could sell my house for their valuation. A halfway house was put on our culture de sac also.
That said, when I protested 2 years ago, they were not receptive to the comps I provided and they were all from that year. The comps they used were very questionable. One had a pool for Pete's sake.
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WT_Foxtrot
Well-Known
Can't help you there other than to say have your hearing and use those examples. But I know you can get it to at least your purchase price by just showing what you paid. I did it on my home back in 2010 by about $60K and just did it for a flip I own that I bought for about 70K under appraised value even though I'll only own it for about 6-7 months. Still helps me and the person buying it, which helps the sale.
The transfer of ownership is why it was re-appraised, the CAD should have access to the MLS data and know what you paid for the house.
Eli
That changes the situation greatly. You can use that purchase price to protest based on market value.
This would really not take much time. Send in the form. Show up for a meeting that will probably only last fifteen minutes. Some appraisal districts allow you to mail (or online) your initial claim and sometimes they will grant a reduction without even having a meeting. Your situation should be a good candidate for this.
I got a pretty good (like 28k) reduction last year without a hearing, going to try for another small one this year. I'm still slightly above the average $/ft2 in my area, so I'll ask for another reduction to that and call it a day. Should be able to drop about $6k in assessed value without anything more than presenting their own property data back to them.
I am one of those who purchased my home for $60K more than the assessed value mid year and immediately filed for the senior and homestead exemptions which froze my taxes at that level. Each year since then Smith County increases the appraised value and one very small assessment that is not frozen...amounts to $10 or so each of the past two years. If it happens again next year I will protest and use the suggestions that were provided in The MailMan's link. Since my home is mostly original, I can come up with some good photos of a lot of work that is needed and hopefully get it reduced but, if not, it isn't a big deal for me. Like many of you, I am in a district that is seeing hundreds of new homes going up on 6,000 ft lots that are selling for $150K - $200K more than I paid for my home on 2 acres. The developers just pad the pockets of the City Councils and Supervisors in the election process and then get everything rezoned so they can build high density housing where it absolutely has no business.
You can protest it yourself, using pics of your house and another that recently sold in your hood.
There are also firms that do the work for you, and I think only get paid on the amount reduced.
My shit has been getting ridiculous. If it weren't for my disabled veteran reduction, I'd have moved out by now. I've had a near 300 a month increase since I moved to Salado nearly five years ago. I don't remember it being this bad when I lived in Harker Heights for ten years.
$300 a month, or a year?
A month, I aint shittin either. They have maxed out my taxes over the last five years, each year. The issue is, I don't have time to take off work to protest it, and that sucks. I know they rely on that too.
I have 5 acres of land in Fairfield. That land is undeveloped, luckily, that has only been an increase of 300 a year. But my mortgage is getting hosed.
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