Here’s How to Appeal Your Valuation
As we enter the late second quarter of 2021, local taxing jurisdictions within Texas are sending Notice of Values to property owners. These values are instrumental in the property tax cycle because they are multiplied by local tax rates to establish a property owner’s taxes. Therefore, a higher value generally means higher taxes. These values are set by local government offices called Central Appraisal Districts that provide taxpayers with a proposed value and a deadline to appeal this value. All across Texas, property owners are now weighing their appeal options as property values are jumping, according to ABC 25. Appealing this value may seem intimidating, but anyone can start the appeal process in three simple steps.
Steps to Appeal Your Valuation
Step 1 – Obtain a Form 50-132 from the Texas Comptroller’s office. The title of the form is Property Owner’s Notice of Protest and can be found here.
Step 2 – Follow the instructions on the form and fill it out completely. If your appeal is not settled with the Appraisal District and you need to attend a hearing before an Appraisal Review Board, you must decide whether to attend the hearing via phone/computer, in person, or simply submit evidence on the record. Remember, if you wish to file an appeal on multiple properties, you need to fill out and file multiple forms.
Step 3 – File the protest with the appropriate Appraisal District. Your appeal is with the appraisal district where the property is located, not the Comptroller’s office. For example, if you have property located within Ector county, you need to file your protest(s) with the Ector County Appraisal District. However, the Texas Comptroller’s office does have a directory for counties to assist taxpayers with proper filing of protests.
Additionally, you must file this protest on or before the listed deadline date on your Notice of Value form you received from the appraisal district. More and more counties are moving toward online/paperless filing of protests. If you would like to avoid mailing in your protest, check with the appraisal district you will be filing the protest in to see if they allow for email or online portal filings. It will make your life that much simpler.
Congrats on Filing Your Protest! Now What?
Now that you have filed your Property Owner’s Notice of Protest, you will have to defend your reason for the protest, put forth your own opinion of the property’s value with supporting evidence, and convince either the appraisal district or an Appraisal Review Board that your opinion is justified. This is not an easy task. However, do not worry if you find yourself intimidated or feeling lost in this upcoming process. Wayfinder specializes in Texas Multifamily valuation appeals, and we know how to guide owners through this difficult path to tax savings.
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