Hi Prospects & Friends,
I wanted too quickly share with you on how to not ignore your tax county assessment mailings that come in the mail annually every year showing your "Market Value" and "Assessed Value" of your property. Life can get in our way, and the littlest things can get past our eyes that will despite looking little can cause significant losses, like higher property taxes, but keeping an eye on these mailings or even hiring someone to do it for you will save you on your annual tax property bill. First lets disclose what is "Assessed Value" and "Market Value", and what it has to do with your property taxes.
- Assessed Value- Is the value the county appraisal district assigns to tax you on for your property taxes based from their evidence package material they use too assign your assessed value.
- Market Value- Is the value the county appraisal district assigns for your property value based from their evidence package material they use too assign your market value. This value isn't what you're tax on. Sometimes it will be same as the assessed value, sometimes it may be higher than the assessed value, and sometimes it maybe lower than the assessed value. This value isn't really the value you need too focus on, and it's the "Assessed Value" you need to focus on since this is what you will pay your property taxes on.
Lets look at some examples on how to understand these values:
Neighbor 1 receives their county appraisal district assessment mailings, and get confused when they see their "Assessed Value" says $775,000 but their "Market Value" says $775,000. They don't bother too "Protest" the $775,000 "Assessed Value" since it's the same as the "Market Value" and didn't bother too check how much their taxes would have changed, so they decide to go on their way and miss the property tax protest deadline.
Neighbor 2 receives their county appraisal district assessment mailings, and get confused when they see their "Assessed Value" says $650,000 but their "Market Value" says $775,000. They decide to research a "Property Tax Consultant" to "Protest" the $650,000 "Assessed Value" since it's the value they pay for their property taxes on, and don't really care that the "Market Value" is the same. They get notified their property "Assessed Value" has dropped down too $500,000 and that their "Market Value" has changed too $785,000. Their happy and decide to hire their "Property Tax Consultant" as their registered agent and allow them too continue too do it for them annually.
Neighbor 3 decides too chat with Neighbor 1 about their "Assessed Value" being $850,000, and their "Market Value" being $1,050,000 and doesn't want too pay higher taxes on the "Assessed Value" of $850,000, and that they wanted too protest this value. Neighbor 1 discloses they didn't bother with protesting because of their "Assessed value" being the same as their "Market Value", and that they didn't really bother with it since they didn't have time and that they didn't know anyone too refer them too. So Neighbor 3 decides too chat with Neighbor 2, and discovers they got their "Assessed Value" lowered down by $150,000 and wanted too know how was that possible since their home was same size as theirs, and Neighbor 1. Neighbor 2 disclosed to Neighbor 3 that their "Property Tax Consultant" applied significant data with using similar homes that didn't sell in past year but in the prior year, and that they had used "Revitalization" techniques, and eliminated new homes since their home was older and had also used lot sales and etc. So Neighbor 3 decides too contact the "Property Tax Consultant" referral from neighbor 2, and as the call picks up Neighbor 3 says "Hi we just bought a new home and we need help getting this value protested asap" The "Property Tax Consultant" then says "I will have too apply another different unique technique since you're in a "New Home" situation coupled with neighbors with "Old Homes" and "Mixed Use Properties".
So in conclusion the whole point of my post is don't ignore your county appraisal district annual mailings too protest your properties. If you don't have time hire someone experienced in this area of real estate too assist you. I'm here to help if you hire me, and you can book your appointment here @ https://bit.ly/3sPSZXy
