TOP 10 Property Tax Tips For HOMEOWNERS

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T O P 1 0
Property Tax Tips For H O M E O W N E R S
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• The joy of owning a house is a manifold.
  Homeownership can be fun but property taxes seem
  to be a nightmare?
• Here are top 10 property tax tips for homeowners!
• Homestead exemption is available to anyone.
• The requirements are
• you must own the house on January 1 and
• it must be your primary residence.
• There are even better exemptions for those over
  65
• and the disabled.
• Veterans who have a 100 disability based on a
  service-related incident receive a 100 exemption
  and pay no property taxes for their homestead.

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TIP
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TIP 02
You do not have to be taxed out of your home of
you are over 65 and cant a?ord the property
taxes. You can defer the property taxes as long
as you live in the house, and even longer in
special circumstances.
TIP 03
Check the appraisal districts information for
your home. Many appraisal districts use aerial
photography to inspect property. Appraisal
districts are required to inspect properties
every three years but in practice they inspect
property much less frequently. This means the
appraisal districts information on your house is
likely not accurate.
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TIP 04

• Five critical factors to check on the appraisal
  districts records for your property are 1)
  grade (quality of construction), 2) condition,
• 3) e?ective year built, 4) level of remodel and
  5) building area. Appraisal districts tend to
  double count the atrium area by measuring the
  perimeter and multiplying by the number of
  stories. Be extra vigilant regarding the size of
  your home if you have an atrium.
• TIP 05
• Appraisal districts use the cost approach to
  value for houses. Professional appraisers
  generally do not consider this the best method
  to value houses. It is more prone to error.
  Appraisal district values for land tend to be
  low, so they overstate the value of improvements
  to hit market value. This convoluted valuation
  model is accurate within 10 of actual value
  only about half the time.

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TIP 06
Texas law requires you ?le a protest to get the
appraisal districts evidence regarding your
house. You cannot get the sales data that will be
considered at a hearing unless you ?le a
protest. At least half the time the appraisal
districts sales data supports a reduction in
value.
TIP 07
You can protest your property taxes based on
excessive value and unequal appraisal. Excessive
value is when the tax value exceeds market
value. Unequal appraisal is when your home is
assessed higher for property taxes than similar
homes.
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TIP 08
The tax appeal process includes an informal
hearing (one-on-one with an appraiser),
appraisal review board hearing (panel of three
citizens who hear the appeal) and either binding
arbitration or litigation. TIP 09 Most property
tax appeals are successful. Most of the appeals
result in a reduction at the informal hearing. In
2015, 69 of appraisal review board appeals
(second step after informal hearing) generated
lower property taxes for the property owner. TIP
10 Protest every year www.cutmytaxes.com
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If you would like to ?nd out if your property is
over-assessed,
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visit the Free Fairness Checker _at_ www.cutmytaxes.c
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