How Much of My Time Will a Protest Take?
The answer depends on the course you take
A Fork in the Road
Imagine you are traveling and you come to a fork in the road. Both routes eventually lead to your destination, which makes you wonder if it matters which route you take. So you ask yourself this question: Which route will get me to my destination in the fastest, most enjoyable way? If you are going to make the drive, you might as well enjoy it.
So it is with property valuation appeals. Whether you appeal it yourself, or you hire a property tax agent, the goal is to still settle with the Central Appraisal District (CAD) or have a hearing before the Appraisal Review Board (ARB). The destination may appear the same, but the journey and results can be very different.
Course 1: Doing it Yourself
When handling your own protests, it is common that there are many projects and important tasks that pull you in a million directions, because property taxes are usually only one of the hats you wear. They are easily put on the back burner for another day down the road, while more pressing sales tax issues or real estate deals are considered. Since property taxes on Texas multifamily are the number 1 or 2 expense item, it is clear that affecting that expense can have a tremendous benefit to your bottom line. Yet, it is still easy to be overwhelmed with all the specific deadlines and valuation evidence. Successfully appealing your valuation involves arguing valuation concepts and knowing the market. It involves studying comparable properties, documenting adjustments to their valuations, and attending meetings with the CAD or ARB. In the end, your simple appeal may take many more hours than you anticipated or wanted to give it.
Course 2: Hiring a Property Tax Professional
Hiring a property tax agent can alleviate most if not all of the above stress. An agent takes on the responsibility to ensure filing deadlines are met, evidence is gathered, and hearings are attended. Because agents focus on property valuations, they can give dedicated time to knowing your properties and aiming to secure you the best reduction. They are familiar with the laws and the markets. Following this course usually results in better outcomes for you, with a lot less time commitment and stress.
So How Long Will My Protest Take?
The ultimate answer depends on the course you choose. While both will typically last about the same number of calendar days, doing it yourself will involve substantially more time and commitment from you. If freeing up your time for other important projects, and potentially securing greater tax reductions is appealing to you, consider hiring a property tax professional to handle your appeals.
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