How's your new tax appraisal?

Mine went up 15%. Last year it went up 9%.

Western Oaks in south Austin.

Just looking at the appraisal history was interesting. My home's value has doubled since 2000. I bought it in 2004 and it's gone up 33% since then.
 
yeah, be careful of confusion if you are looking at the history on the TCAD website. For previous years, it only shows assessed value and taxable value--doesn't show appraised value. So, to figure out the increase, need to compare apples to apples. My appraised value is still a good bit over the assessed value, so the assessed value will be going up at the 10% cap for the forseeable future.
 
I don't get that at all.

I got a Notice of Appraised value from WilCo. It has a column at the end for 'total appraised value' and then at the bottom of the table it says '2008 total assessed value'....the amounts are the same and thus it is saying to me that the appraised value is the exact same as the assessed value?...but ya'll are saying they are 2 different things?
 
Actually, I think it is the taxable value that includes the exemptions (at least that's the way it is on TCAD). Assessed value is only different from appraised value (correct me if I'm wrong) if your appraisal is going up by more than 10%. If it is, the assessed value should be limited to a 10% increase.
 
Well now I'm confused. My Assesed Value and Taxable Value went from 176K to 202K. That's 15% right?

In any case, it was the assessed values I was looking at on the history. For the last couple of years houses in our neighbor hood were selling for much more than the appraised value. The market value still seems to be climbing (based on my not-so-precise system of reading every For Sale flyer I see around here) but the appraised value has almost caught up to it.
 
Yeah, chuy, it seems like it shouldn't have gone up that much--did you file your homestead exemption? If not, the 10% cap doesn't apply. Also, it doesn't apply (I think) if you made improvements to the house last year.
 
Tell me more about the homestead exemption.

I thought you only did that once. Is is part of the home-buying process? We bought in '04 and have not refinanced, gotten a home equity loan, or made any other changes to our mortgage.

I did enlarge my back patio and cover it in flagstone, but how would the county know about that?
 
nevermind, i found it.

so basically, don't pay attention to the market and appraised values, correct? the value that you should be paying attention to is the taxable column, which represents what your taxes are based from?
 
Sorry, I got that wrong before, assessed value indicates the appraised value minus the cap. Taxable value includes cap and exemptions, and appraised value is just as it states - what the county appraises your property for - atleast for Travis Cty. Williamson shows an appraised value minus the cap = assessed. Regardless, the increases in appraised value of 12% and 30% for the two counties are uncalled for.
 
F'n A, finally got around to opening ours this weekend. We went up 23% -- a ONE year increase of 23%. That's nuts.

Granted, we're relatively central (Allandale, 78757), but geez. Hell, that's the kind of % increase reserved for gasoline these days.

I've never fought an appraisal before (they were always pretty in line with what was happening in the neighborhood, price-wise). But this is nuts. So . . . sigh . . . I gotta do my math and research on how to fight it. What a pain in the ***. TCAD can lick my taint.
 
chuy, yeah, you only need to file the homestead once, so if you already filed it, you should be fine. Assessed value should not have increased by that much.
 
chuy, look at the "exemptions" box on the tcad webpage for your property. It should indicate "HS" if they have a homestead exemption on file for you. If you want to be safe, call them and ask.
 
I was not revalued last year. This year, I got the full 10 percent on the valuation, and the county says it's actually worth about 15 percent more than that. Ha!

I'm going contingency with the property tax appeal specialists.
 
Here's an Austin area map from the AAS with avg increases shown.

.
image_6975378.jpg
 
i live in Central Austin and our appraisal was up only 11%. I guess over the years i have gotten used to huge increases. So this year i was pleasantly surprised.

Overall, i was satisfied with the appraisal number. It was pretty dead on with what a realator told us 2 weeks ago we could get for our house.
 
Why this doesn't normally apply to the higher populated counties, the 10% cap only applies if your home is re-valued every year. Some counties only do it every other year, and their cap is 20%. Works out the same but its confusing to some.
 
Wow. I don't even know where to begin...

I just bought my house at the end of last year (closed right after Christmas). The proposed value of the house is up 29% from last year's value. What is the 10% rule? I thought the value couldn't go up more than 10% from year to year? I'm in southwest Austin, 78749.

How do I find out the price of other houses in the neighborhood? My realtor? When I bought there weren't any other comparable houses for sale. The closest house to mine was going for about 10k more but they had done a lot of remodeling and upgrades my house doesn't have.

This is really overwhelming. I'm going to protest this no matter what. Do you think it will matter that I can show the market value of this house (what I paid) is way less than the appraised value?
 
Your appraised value can climb an arbitrary amount. If you have filed for a Homestead Exemption, your taxable value can only climb 10%.

However, it is my understanding that you won't get that advantage until the year starting with the SECOND January 1 you own your home. Because of this, you really need to protest your valuation, because you're probably on the hook for a ~ 29% higher tax bill than you expected.

I would hire one of the tax protest services like Texas ProTax. They have far more sales and appraisal data than you will ever get access to.
 
jimmy is correct, but if you just bought it and paid less than the appraisal, you can just make a copy of your closing statement and send it the TCAD--they will almost always lower the appraisal to the sale price.
 
Yeah, that's right. I did that when we bought our house -- I sent them our HUD statement (1st page of closing docs). They made me sign something which said I wouldn't protest new valuations for a year, and I did, and then I ignored it.
smile.gif
They didn't seem to remember that part.
 
I don't know what to think. I guess I should just let it ride as the appraised value (up about 13% - 78723) is higher than what I paid (20% higher since purchase -- couple of years it went down) but well below what is being asked for homes in the immediate area (just ten houses away). Like more than 100% below.
 
Mine went up 19.3%. Which is about a $4000 jump in taxes owed. I know about the cap, but I don't want them having this as a baseline for next year so I hired Texas ProTax to fight it.
 
Mine went from $140K to $189K. We did some work including a new metal roof this year. Not bad for 1,416 SF.

I think I will protest as I cannot figure out how they came to this decision.

I am in Houston - Spring Branch area
 
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