Pay Only Your Fair Share of Property Taxes in Texas

Property taxes are on the rise in Texas and deadlines are quickly approaching to protest this change. Most local homeowners will have until May 15th to make sure that they are paying a fair share of the assessed property taxes.

Why should you fight back as a homeowner this year? For example, Travis County Appraisal District (TCAD) 2018 preliminary values suggest the average overall assessed value increase for commercial properties is approximately up 37%. Commercial properties have no cap on what they can be valued at and can increase 100%+ in one year. For example, on 11200 N Ranch Rd 620, the property tax value went up 251% from 2017 to 2018. If you’re in that area, you may have experienced this exact same jump.

You should note that if a residential property has a homestead exemption, the assessed value cannot increase by more than 10%, but the market value can increase. Without a homestead exemption, a residential property also has no cap.

We have the right to appeal our assessed values and you have the right to lower taxes which is why you should look at using Yvonne with Valor Tax Solutions to help protest your values annually. She works with many of our clients to make sure values are fair and market values are assessed appropriately each year.

Currently, all Texas counties will have their values distributed with the May 15th deadline. Once notices go out, you have 30 days from the date of the notice to make a change so please make sure to contact a professional immediately if you need help with your property taxes.

If you want to ensure you pay only your fair share of property taxes, call Yvonne and her team at Valor Tax Solutions. You can also visit their website for more information.

(Full Disclosure: Insogna CPA does not receive any financial compensation for any referrals we make)

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