Protest Property Taxes: Save BIG

If you checked your mail in the last week or so, you’ve likely received your 2017 tax assessment for your property. As far as property taxes go, it’s been a rough couple of years for DFW’s middle class. In 2016, we saw some record valuation spikes, and 2017 hasn’t been any kinder to most.Rioting and disputing your valuation are certainly acceptable responses and Nail & Key can assuredly help you with the latter. Here’s what you need to do:

1. Decide if an Appeal is Worth Your Time.

How much effort you decide to put into a challenge depends on the stakes. Let’s just say you’re able to lower your assessed value by 15% from $300,000 down to $255,000 and therefore save 15% on your property tax. In Coppell, with a steep tax rate of 2.73%, that lowers your tax bill to from $8,190 down to $6,961, a net savings of $1,229.

2. Check the Data.

Make sure the information about your home is correct. Is the number of bathrooms accurate? Number of fireplaces? How about the size of the lot? There’s a big difference between “0.3 acres” and “3.0 acres.” If any facts are wrong, then you may have a quick and easy protest on your hands.

3. Get the “Comps.”

This is where Nail & Key comes in. Give us a call and we’ll find three to five comparable properties — “comps” in real estate jargon — that have sold recently. Zillow and Realtor.com can’t help you here. Only the agents have access to the final sales price of comparable properties.

Once we identify comps, we’ll check the the assessments on those properties with you. If the assessments on the comps are lower, you can argue yours is too high.

If you can show that the comparable properties are superior to yours, you may have a case for relief based on equity, even if the assessments are similar. Maybe your neighbor added an addition while your foundation is in disrepair. In that case, you could argue the properties are no longer comparable.

4. Present Your Case.

Armed with your research, file your protest online at your county’s appraisal district byMay 31. They will send you details on your hearing and instructions on how to present your case.

BONUS! Watch Brandt protest his property taxes online, step by step. -->

Let us know if you have any questions! We're here to serve you.

- The Nail & Key Team