| Texas real estate owners today are caught in a | | | | overwhelming compared to the tax relief they |
| costly paradox: as property values decline, the | | | | may get. |
| county tax assessor's office paints a far rosier | | | | In truth, fighting your property taxes with the |
| picture. Home sales are flat, yet property taxes | | | | county tax assessor takes very little time, and |
| continue to rise. Visit the local county tax | | | | your dispute could save you tens of thousands of |
| assessor's office and most likely you will see large | | | | dollars when spread out over the time you own |
| blowups of articles raving about the robust Texas | | | | your home. The smart homeowner can gain |
| economy and housing market - useful information | | | | ground on this escalating problem by tackling it as |
| if your task happens to be convincing | | | | soon as possible, for tax decreases you might |
| homeowners to accept, and pay, the yearly tax | | | | obtain could take awhile to have an effect, since |
| increase! | | | | they are simply canceling out the years your |
| The reality is the state's need for continued, | | | | artificially inflated taxes went uncontested. In any |
| increasing revenue. Since Texas does not collect | | | | case, the money that you can put back in your |
| income taxes from its citizens, the state's | | | | pocket with the next tax cycle will certainly |
| greatest source for income is property taxes. | | | | justify your investment of time and effort. It just |
| This revenue funds fundamental programs like | | | | makes sense to start this year. |
| schools, and city governance and maintenance. In | | | | Research Your Options |
| most counties the tax rate is about 3% of the | | | | The property owners who have been successful |
| retail price of your home, which would probably | | | | in lowering their taxes will tell you to make use of |
| make sense if that percentage corresponded to | | | | the internet. Start with a Google search for |
| the rise and fall of the actual market. In fact, | | | | Texas property taxes, or Texas property tax |
| most states collect the appropriate property | | | | help. Study up on the information available and |
| taxes at a moderate rate of increase each year. | | | | then prepare to collect some vital statistics. |
| Not so in Texas. Texans have some of the | | | | Organize and Documento Check your current tax |
| highest property taxes of any state in the union. | | | | records. Ensure that the square footage of your |
| And they increase every year, as you know, in | | | | property is correct. Recently a Texas resident |
| spite of the fact that your neighbor's "for sale" | | | | provided blueprints of his house to correct past |
| sign has faded and become part of the scenery in | | | | years' miscalculations, to the tune of over $700 |
| front of his desperately low priced home. | | | | for each year! That one correction alone ensured |
| Homeowners who live in their Texas homes and | | | | significantly lower taxes for that homeowner, |
| who claim a homestead exemption will plausibly | | | | proving it's wise to look over your existing tax |
| see continued increases in their property taxes, | | | | documents.o Compare your taxes with your |
| no matter what the actual market is doing. | | | | neighbors' property taxes. Understand the local |
| Increases of up to 10% per year are not | | | | tax climate. For all you know, you could be paying |
| uncommon. And if that doesn't get your attention, | | | | much more than them; this information will work |
| a few consecutive years of such an increase | | | | to your benefit.o Make sure you have all the |
| probably will. It happens every year, even when | | | | paperwork you need for your hearing. Keep |
| the economy is soft. Homeowners can easily be | | | | organized files of your ground work.o Be sure to |
| swept along in this rising tide of ever increasing | | | | file for a protest! You have several weeks to do |
| taxes of they do not protest their tax | | | | so following receipt of your property tax |
| assessments. As each year passes, the tax | | | | assessment, but you must file before May 31st. If |
| increases compound. | | | | you do not have the form, contact your county |
| A recent article by Les Christie, sites this | | | | office or visit http:/ After mailing your request |
| particular problem and discusses the surge in | | | | you must then go to the county tax assessor to |
| homeowner requests for lower tax assessments | | | | file your informal request. |
| -- especially in states which have enjoyed | | | | Keep it Up! |
| significant real property value increases over the | | | | The bad news: Expect your taxes to start |
| past decade. Now that the economy is universally | | | | creeping back up if you miss even one year |
| in decline, more tax payers are contesting their | | | | disputing them. Texas real estate owners really |
| property assessments, and rightly so. Yet, city | | | | do themselves a disservice by NOT staying on |
| and county budgets are equally strained. | | | | top of their rising property tax situation, so you'll |
| Therefore, learning how to fight your property | | | | need to gear up for an annual trip to the county |
| taxes now will improve the likelihood of actually | | | | tax assessor. |
| obtaining a lower rate when the next opportunity | | | | The good news: Experts agree that most people |
| comes. | | | | can cut half of their increased value with just a |
| An Achievable Battle | | | | few tricks and things to do while at their appraisal |
| Less than 7% of all homeowners protest their | | | | hearing. But you have to keep doing the yearly |
| property taxes. Most believe that they probably | | | | legwork or your taxes will continue to increase. If |
| won't win, or that their home's value is about the | | | | you devote more time in really understanding the |
| same as everyone else's. Many homeowners | | | | issue, and commit to doing just a little more |
| simply don't know how to go about it or where | | | | work, you're savings could be substantial. |
| to start. Some folks assume the hassle will prove | | | | |