Home Appraisals

[UnBiased Horn]

Have a few questions.

I just got mine in the mail from HCAD. This is the first one I have ever received since I am a new home buyer. We bought a remodel that's appraisal value went up 100k but is still less than what we paid for it. Is their any chance to win a protest or should we just leave it and be glad that it's less than what we paid for it? I know some people that protest every year just in case. They hire lawyers to do it for them.

Also,oOur sq footage went down 100 sq ft. Why would this happen and is it a big deal?

 

[The Bandit]

I've protested my taxes several times to both the hcad rep and the Board. IMO, the main criteria they look at is price per sq. foot. What I'd do is compare the prices of the houses near you and compare their price per sq ft to yours.

If you do protest, I wouldn't spend must time dealing with the hcad rep. Just tell them what you think your house is worth and go onto the board. They'll try to scare you by saying board might RAISE you're appraisal, but that wont happen. Every time I went to the board I brought pictures of my house and houses with lower price per sq. foot. Treat the people with the board with respect and they'll work with you.

 

[ninerhorn]

UBH,

I am confused. Your value is 100K up but still lower than what you paid for it?

Your sq.footage went down? According to the county? How would they know? They do not come into the house.

finally, if you would liket send me an email and I will have one of my appraisers do a value check on your property. No cost on this.


[email protected]

 

[UnBiased Horn]

niner,

yes the appraisal was $X for 2007 but the sellers remodeled it Jan 07 to June 07 when we bought it for $X + $100k (they put that much into it fyi). The appraisal for 2008 came in at $X plus $80k which was the county's guess at what the new market value of the house after the remodel. I am glad they were low but wish they were lower so I would pay less taxes. That is why I want to know if I should protest.

And yes the county did come out to the house to measure the sq footage. they measure the outside of the house. in houston, i have heard that is pretty standard.

 

[madscientist]

never heard of the CAD measuring the perimeter of a home. how would they know how much of that perimeter is garage, assuming an attached garage? what about a 2 story home in which the top story is not the same size as the ground story?

if you want to protest, then protest.

 

[UTinBigD]

be sure to check what they are considering for the increase. They increased the land value of our place by 80K last year.

 

[Texas Law]

If HCAD is like Dallas or Collin CADs, you won't get it lowered by a rep or the board. They'll ask for your closing statement, and if you won't give it to them, they'll know you paid more than they appraised. You can always try, but I'd guess it would be fruitless.

Showing less square footage is good for you.

 

[The Bone]

Don't forget the tax law says you must be equally and uniformly appraised as well. Be sure and look at the assessments of about 5 or 6 (maybe more if it helps your case) comparable houses in your neighborhood and take the median of that set. If the median $/SF of that competetive set is lower than your $/SF, then you have yourself a case and you won't have to disclose the sales price or closing statement. Appraisal districts must set the appraised value at the lower of market or equal/uniform value.