Will an Appeal of Noticed Value Really Make a Difference?

William Ryan Jul 29, 2021
2 min read
Will an Appeal of Noticed Value Really Make a Difference?

The Impact to You

As a multifamily property owner in Texas, you have most likely received a “Notice of Proposed Value” from your local county appraisal office and wondered whether to appeal that value. If you have never appealed this value, you may be unaware of the benefits that a successful (and even an unsuccessful!) appeal may bring. 

The Impact on Your Relationship with the CAD

If successful, an appeal will result in lowering a property’s taxable value. This means tax savings for the owner. But even if your appeal is unsuccessful, just by filing it you will have had the opportunity to learn more about your county’s appeal process and build a relationship with your Central Appraisal District (CAD)Building this relationship can be invaluable in later years/appeals.

YOUR Impact on the Community. 

In the multifamily industry, tax savings are often passed along to multiple parties; owners may see a healthier bottom line while tenants may see improved amenities and accommodations. However, there are also benefits to owners of different properties. By lowering the taxable value of your property, it may provide evidence for another owner of a comparable property to help lower their taxable value. Thus, the benefits that your property and tenants receive may also be possible for others in your market. Besides improving the lives of those in your communities, the beauty of this type of relationship is that this initial reduction may fuel tax savings for years to come because now the whole market has a lower taxable value. Upward movements in values will be offset by lower starting values.

 And those are the two main impacts your appeal could have on both you and your properties, as well as the communities you serve. The next time you believe your property is overvalued by your local CAD, remember that the impacts your appeal can have are far reaching and helpful to all. If you have any questions about pursuing a valuation appeal for your Texas multifamily property, please contact our team of specialists today!

See How Wayfinder Can Help 

The Game Changer
What Sets Exceptional Property Tax Consultants Apart Having the right consultant by your side can be a game-changer, the difference between overpaying and securing fair assessments. You deserve a tax consultant that will truly care for your properties as much as you do. Here are four indispensable qualities you can distinguish when choosing a property... Read more »
Read More
Your Property Matters
We believe every property has a story worth knowing, documenting, and telling. You deserve someone to care about your property as much as you do. Trusting your tax agent and having peace of mind are priceless. Wayfinder limits our agents to 100 properties per year to make sure each property can be visited in person... Read more »
Read More
Beyond the Profits, the Principles that Drive Us
What drives us? In today’s business landscape, success is often measured not only by financial gain but also by the values and principles that guide an organization’s actions. At Wayfinder Tax Relief, we believe that integrity, accountability, excellence, and abundance are fundamental to our mission and essential for building lasting relationships with our clients and... Read more »
Read More
Arrow Icon