Why Are My Property Taxes So High?

William Ryan Jun 29, 2021
3 min read
Why Are My Property Taxes So High?

You Need a Texas Multifamily Property Tax Specialist.

Why Your Taxes Keep Getting Higher 

Property taxes are determined based on the value of your property and the tax rates set by local jurisdictions. Since Texas does not allow income tax, the property taxes are higher than in other states. With multiple inputs, there may be many reasons why your tax bill is high. We will address a few of them in this article.

How Property is Valued 

Each year the Central Appraisal Districts (CAD) review and assess the value of your property.  As you might expect, most often the value increases. If you have not been contesting your value, this would definitely impact why your taxes seem high compared to others. Even though the CAD attempts to value every property fairly and equitably with others, it is a very difficult job.  They value thousands to hundreds of thousands of properties and cannot know your property personally. They use information they have gathered about the market to value properties en masse.  Hiring a tax agent to properly review your valuation each year and contest the value when appropriate can help keep the market value reduced, and thereby reduce your property taxes.

Why Tax Rates Matter

Another component of the tax bill is your tax rate. Even if your valuation stayed the same from last year, the tax rates may have increased. This would increase your tax bill. In the fall, the local districts have meetings to discuss their budget needs and proposed tax rates. This is really the only time you can voice your opinion about the tax rate. If you are not attending these meetings and letting your district know you want to keep the rate low, they will likely move forward with their proposal.

Evaluating Your Agent 

If you have an agent who has been appealing your valuation and you still feel like your valuations are too high, then download the Property Tax Agent Checklist and rate your agent.  You may find out that it isn’t you, but it is your agent that is not giving you the representation you deserve.  Evaluate their fee, if it is a bargain price, you are likely getting bargain service.  Consider finding a Texas multifamily property tax specialist to take your results to the next level. 

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