Dallas-Fort Worth Real Estate Investor Club

Property Tax Protest

  • 15 Apr 2017 11:28 AM
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    Message # 4753573
    Deleted user

    I'm surprised I haven't seen this topic "raised" here yet...

    I decided to protest the increase on one of my properties. I'm afraid I rushed into filing a protest online, in which I proposed lowering the valuation to the value it was appraised at when I purchased the property last year. Then I regretted not proposing the actual sales price (which was lower). And then I regretted not proposing $5K less than the sales price, because the inspection indicated the property needs a roof, which the seller refused to remedy. (We suspected insurance fraud. I have remedied only what was necessary to stop leaks.) 

    So now I've received a settlement form for the amount I proposed. Do you think it's worth it to decline the settlement and go for a hearing with the inspection report in hand?  Or should I wait until next year, and protest again using the inspection report (assuming I won't HAVE to replace the roof before then)? 

    Thanks, Paula
  • 16 Apr 2017 7:40 PM
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    Reply # 4754808 on 4753573
    Robin Carriger (Administrator)

    According to my experience, if you just bought the property just last year, you have an excellent chance of getting TAD to agree to an assessed value equal to your purchase price.  As usual, we plan to offer our Tax Protest Class again next month, so stay tuned for more info on that.

    Thanks,

    Robin
  • 05 May 2017 10:16 AM
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    Reply # 4816456 on 4753573
    Deleted user

    Update:  

    The tax protest class comes "too late" before the 5/31 deadline.

    Regardless, before I could decide what to do, they sent me an appointment for a hearing with the ARB. I had my hearing yesterday, and they offered "no contest" to the value I asked for. I was able to lower their valuation by $16K, which is $6K below what I paid for the property. :-) 

    They didn't even want to see or hear my evidence. Obviously, I should have asked for an even lower value! They told me to "save [my evidence] for next year". 
  • 05 May 2017 10:08 PM
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    Reply # 4817476 on 4753573
    Robin Carriger (Administrator)

    Regarding the Tax Protest Class being "too late," it really isn't "too late" at all.  There are a couple of strategic steps you could've taken regarding the timing of your hearing, but, since you've now already had your hearing, I'll just say "Congratulations!"  :-)
  • 12 May 2017 8:48 AM
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    Reply # 4829428 on 4753573
    Deleted user

    This dichotomy has always bothered me a little bit... We (home owners) tend to want things both ways. When we want our taxes to be lowered we take non-flattering pictures to show that our house is not worth what is being proposed in hopes to have the value lowered, yet, when it's time to sell, we take the best pictures possible with the hopes to get as much money as possible for our homes... I realize that is how home ownership goes, but I can't balk too hard over proposed value unless it is egregiously high... 


    Brian R. Baker, MBA

    Texas Housing Partners LLC. 
  • 14 May 2017 5:27 PM
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    Reply # 4833145 on 4753573
    Deleted user

    Brian:  I hear what you're saying. I only protested the value on one property, although the valuation on all of them went up by 20%. I only protested the one that I thought was unfair. I'm tickled that the valuations keep going up, because that means I can justify raising the rents. :-) 
  • 14 May 2017 7:52 PM
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    Reply # 4833253 on 4753573
    Deleted user

    Yes I agree 100%! Good stuff. 

    -Brian 
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