Protest! Your Tax Assessment

Thank you! I appreciate your interest in finding out more about your options concerning your assessed property taxes. I believe that knowledge empowers people, so regardless of your decision as to whether to move forward and protest or not, you are at least empowered!

If you know someone needing to buy a home or get one sold, please give me a call. It is always my pleasure to help and there is never any obligation. Thank you in advance!

Opinions are like noses, everyone’s got one. The Dallas Central Appraisal District has an opinion as to what your home is worth based on some arcane formula and logarithms that no one understands or can explain. Meanwhile, the homeowner questions how their home could ever be worth that much money.

On May 2^nd, the first batch of 2008 property appraisal notices are sent and the protest period begins. If you plan to protest your appraised value, you must do so in writing by June 2nd. A protest form and complete instructions are provided on the notice you received from the DCAD.

It is relatively easy and the odds of winning are good, but only 7% of Dallas County homeowners protested their taxable home value in 2006 – just one out of every 14. Fifty-Four % of those saw some value reduction which translated into a lower property tax bill.

Here is my 3 step program for successful Property Tax Protest:

1. Contact Dennis with your address for a Comparative Market Analysis of your home in relation to your neighborhood. We are looking to compare “apples with apples” in order to determine what a home like yours might be worth. We start by determining what is the average “sold” price per square foot in your neighborhood. We then multiply the number of square feet in your home times the average cost per square foot. Based on that figure, we can determine whether the appraisal you received is too low, correct, or too high.

If you believe that your appraised value is too low or correct, there is nothing to do. However, if you believe your home is below the average appraised value, you should consider taking action. Plan on doing the work necessary to make your case to show “why” your home falls below the neighborhood average.

2. Have a specific idea as to what YOU think your home is actually worth, and be able to prove it. Get creative!

3. Take pictures of your home for illustration. If you have a nasty bathroom with a rotted floor, take a picture. If your home has the original harvest gold laminate counter tops that were there when you bought it, take a picture. If you backup to railroad tracks or power lines which adversely effects the value of your home, take a picture. If you neighbor is involved in 4H and raises hogs and chickens, take a picture. You get the idea!

The plan is for you to explain and illustrate exactly how and why your home is NOT worth what the Dallas County Appraisal District says it is worth. Remember to be very polite, firm, but not demanding. Chances are that you won’t get exactly what you want, but in many cases the DCAD will “throw you a bone” and hope you go away.

Need some inspiration? Remember that in 2006 Mark Cuban protested the value of his $14.5M bungalow and received a $1M or 6.8% reduction in its value!

If you happen to be "Protest Challenged" you can always hire a professional to assist you in the process. Here is an interesting article that appeared last year in the Dallas Morning News that will provide you with some more information.