Home address: 505 Troxell Boulevard

2021 Taxable Value: $205,790

Recent Sales Price: $163,000  – Over-taxed by 26%

Appraisal district errors in setting assessed values cause Wise County owners to pay extra taxes. Either comparable sales or condition issues at your home are useful for a market value appeal of property taxes. Unequal appraisal is a powerful tool to reduce property taxes, but many homeowners are not aware of it and don’t use it. Winning a property tax protest is easy.  Getting property owners to appeal is hard.  Only 10% of Texan home owners appeal their property taxes.

Owners are sometimes reluctant to protest property taxes due to a concern their value might be raised.  This can’t and does not happen.  Since 2019, neither the appraisal district or the appraisal review board can increase a property tax assessment during a protest. Appraisal districts use mass appraisal to value property, basically a math model.  Overall results are OK.  However, many homes are too high or low. Appraisal districts settle appeals at the informal level  to avoid the time consuming and expensive appraisal review board hearings. Property owners who appeal annually rarely pay more than their fair share.