Home address: 313 Boyd Avenue

2021 Taxable Value: $88,450

Recent Sales Price: $65,000   – Over-taxed by 36%

Wise County property investors far too often pay excess property taxes. Market value property tax appeals save home owners an average of $500, according to Texas Comptroller Glen Hager, for 2019. Unequal appraisal is a powerful tool to reduce property taxes, but many homeowners are not aware of it and don’t use it. Woody Allen said “80% of success is showing up”.  The same is true of property taxes.  If you file an appeal and attend the hearing, your chance of reducing your property taxes is excellent.

Some homeowners believe “you can’t fight city hall.”  But property owners win 60 to 80% of property tax appeals. Appraisal districts use mass appraisal to value property, basically a math model.  Overall results are OK.  However, many homes are too high or low. Tax protests are resolved at the informal hearing since the result is within a “reasonable range of value”.  Appraisal is not an exact science and valuations are only an educated opinion of value, not a fact. Not appealing your property taxes annually is the equivalent of volunteering to pay extra property taxes.