Texas’ major cities are booming. The job opportunities, mild climate, and relatively low cost of living are major draws for millennials and young families, and the business-friendly state also attracts startups and major corporations alike.
Statistics show that nearly 200 people move to Austin every day and more than 250 people move to Houston each day. This means that the real estate market is very competitive for those looking to purchase homes or residential properties in Texas’ major metropolitan areas. It also means that current property owners are facing property tax rates that exceed those in most other parts of the country.
The average property tax rate in the Lone Star State is 1.8%, but in some metropolitan areas—such as Houston and Austin—it can be more than 2%. Comparatively, the average property tax rate in the United States as a whole is 1.1%
In Texas, the respective County Appraisal Districts (CAD) send a Notice of Appraised Value to all property owners each year in April. This is the CAD’s opinion of the value of the property in question. However, this value is not always accurate, which means that every year, property owners have a chance to appeal the tax amount they are being charged. Often a protest helps get a lower value applied to the property, which will in turn lower taxes.
Even if your property value or appraised value did not rise in a particular year, or you believe your Notice of Appraised Value is conservative, you should still appeal your property tax rate each year, and here’s why:
- It is your right as a property owner to appeal your property tax. After all, it is your money, and you deserve to keep as much of it as you can.
- The County Appraisal Districts make mistakes. There are a number of reasons that your property value may be incorrectly calculated. For example, the Appraisal District may claim that your home is bigger than it is. If there is a more than a 5% discrepancy, then you have grounds for an appeal.
- You can save money even if your home value does not change. For example, despite the Travis County Appraisal District not changing appraisal values in 2020, our experts at Texas Protax were still able to get reductions for more than 70 percent of our clients.
- Appealing this year can save you money in future years. If you have a Homestead Exemption (which caps the amount your home’s appraised value can increase each year), then appealing your property tax rate can protect your property value for years to come.
- If you work with a property tax consulting firm, you have nothing to lose. When you hire a property tax protest company like Texas Protax, you get experts working on your behalf to appeal your tax bill and save you money. We collect our fees based on how much we are able to obtain in tax savings, which means when we get paid, you also get paid. Contact us today to learn more about how we can lower your tax bill this year and put money back into your pocket.
Texas Protax is a property tax consulting firm serving Austin, Houston, and Central Texas. Contact us today to learn how we can help you appeal your property tax rate in Houston.