Tax Agent Terminology

This administrative board hears protests to proposed assessed/market value of the property. A taxpayer who filed a protest of their proposed value will go before this board and make their case if a settlement is not reached with the CAD.

In Texas, the assessed value of a multifamily property is equal to the market value of the property (or the price that the property would exchange hands in an open and free market through an arm’s length transaction). This value is significant because it is then multiplied by the jurisdiction’s tax rate to calculate the annual property taxes owed on the property.