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Property Tax appraisals...
Posted: Fri Apr 06, 2012 2:34 pm
by Scott in Houston
Can anyone point me to or know the limit on an appraisal increase for a piece of property?
I had one go up almost 30%. I thought there was a 10% increase limit?
Any help on the best way to attack this? I don't want to pay one of those firms who do this for you, but I'm considering it because I'm clueless in this regard.
Re: Property Tax appraisals...
Posted: Fri Apr 06, 2012 2:35 pm
by ScooterSissy
PM sent.
Re: Property Tax appraisals...
Posted: Fri Apr 06, 2012 2:37 pm
by Bart
Is it your homestead property or some other property like a second home or a rental?
Re: Property Tax appraisals...
Posted: Fri Apr 06, 2012 2:42 pm
by Scott in Houston
Bart wrote:Is it your homestead property or some other property like a second home or a rental?
Homestead. Newly acquired. I think the reset it based on our purchase of it, but I thought there was a max increase regardless.
Re: Property Tax appraisals...
Posted: Fri Apr 06, 2012 3:05 pm
by Bart
From the Texas Property Tax Code § 23.23
The limitation provided by Subsection (a) takes effect as to a residence homestead on January 1 of the tax year following the first tax year the owner qualifies the property for an exemption under Section 11.13.
Re: Property Tax appraisals...
Posted: Fri Apr 06, 2012 5:14 pm
by Scott in Houston
Bart wrote:From the Texas Property Tax Code § 23.23
The limitation provided by Subsection (a) takes effect as to a residence homestead on January 1 of the tax year following the first tax year the owner qualifies the property for an exemption under Section 11.13.
Thanks. So the 10% doesn't apply since I filed for Homestead this year.
That makes my case clear... now I fight based on comps. I'm WAY out of line with the neighborhood comps. I'm $40/sq ft higher than the average for my street.
Thanks again