Home address: 111 Drover Ridge Rd
2021 Taxable Value: $239,480
Recent Sales Price: $184,500 – Over-taxed by 30%
Appraisal district errors in setting assessed values cause Wise County owners to pay extra taxes. Protest market value, get a few comparable sales as evidence and you are very likely to reduce your 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. It is difficult to persuade property owners to protest their property taxes. But 60 to 80% of those who do are successful.
Some homeowners do not appeal property taxes because they are not aware of this right. You can and should protest both market value and unequal appraisal annually. 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. Not appealing your property taxes annually is the equivalent of volunteering to pay extra property taxes.
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