Filing a Protest of Noticed Value

William Ryan Jul 27, 2021
3 min read
Filing a Protest of Noticed Value

What Does it Mean to Me? 

Every year, multifamily property owners receive a proposed notice of value for the properties they own. Left unappealed, this proposed noticed value will become the taxable value of their property for the current tax year. Many owners ignore these notices or simply approach it indifferently. They often ask, “Why should I file a protest of this value?” When examined, there are multiple reasons to file a protest of your proposed value.

Tax Savings can Benefit Multiple Parties

This is the most obvious and impactful reason owners should appeal their noticed values. By reducing the taxable values of their property, they can directly lower their property tax bills dues later in the year. The savings generated from these reductions can mean owners are able to improve the assets they currently occupy, or potentially acquire new ones. Never forget, the service multifamily property owners provide their communities is extremely important. Oftentimes, benefits that property owners receive work their way into the public in some form or fashion (be it new amenities, updated units, etc.). The benefits following tax savings are significant and far reaching for more than just the property owner.

Taxing Entities are Held Accountable

Central Appraisal Districts (CADs) are in charge of setting the value for properties within their counties. They have the difficult job of valuing every property in their county annually. This is impossible without something called “mass appraisal”. Mass appraisal is a way of valuing large groups of properties by applying common multipliers or factors to some individual characteristics of a property. However, the problem with this methodology is that it cannot account for factors plaguing individual properties. This is where the owners and agents of a property are able to help CADs accurately value a property. By sharing specific factors that impact your properties’ values, you can provide insight to the CAD that may impact not only your valuation, but other properties’ values. It helps taxing entities be more accurate.

Your Rights can be Exercised

Finally, appealing is a right afforded to you by the Constitution and laws of the land. Texans are big on believing their government should be working for them, not the other way around. If nothing else, your appeal will be a signal that due process in the Lone Star State is strong and present.

If you have any other questions as to why you should annually appeal your property valuation, please reach out to the specialists within our office.

See How Wayfinder Can Help Start Saving Now

4 Reasons to Appeal
4 Reasons to Appeal Appealing Your Proposed Value Filing a protest of your noticed value is an important right the State of Texas grants its taxpayers. There are many reasons to appeal that affect many different parties. In this blog, I would like to share with you just 4 main reasons to appeal your Proposed... Read more »
Read More
Important Terms to Know Before You File a Protest
Importance of Understanding Terms Filing a protest of your noticed value is an important right the State of Texas grants its taxpayers. To combat over taxation, multifamily property owners should be knowledgeable of a few terms so that they can effectively navigate the appeals process. Key Terms  Notice of Appraised Value – This is the... Read more »
Read More
What are the Benefits of Filing to Litigation?
What are the Benefits of Filing to Litigation? How can I get my Appeal to Litigation? Before talking about the benefits of filing your property valuation appeal to court, it is important to understand what you must do first before you can file. In Texas, a taxpayer seeking to litigate their property value appeal must... Read more »
Read More
Arrow Icon