Dallas-Fort Worth Real Estate Investor Club

Tax Protest and Resale Value

  • 25 Jun 2017 11:07 PM
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    Message # 4917328
    Mike Brechbuhl
    I just successfully protested my homestead property taxes.  When I told my neighbor, he was happy for me, but warned me about not doing it too often.  He said that comps include county market value in the calculations. He went on to say that traditional banks won’t give loans to buyers if the sale price is much greater than the county market value.  He was primarily concerned that if too many of our neighbors reduced their market value, that would drive down the value of his property. Is that really possible?
  • 26 Jun 2017 8:36 PM
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    Reply # 4918838 on 4917328
    Neil Aggarwal

    Your friend is wrong. Banks use appraisals to determine property values. They do not look at the county value. There is no harm in protesting your value if it is too high.

      Neil Aggarwal
      NSA Partners, Ltd.
  • 07 Jul 2017 6:26 PM
    Quote
    Reply # 4937916 on 4917328
    Deleted user

    I agree with no harm in protesting your value, but do the math first to make sure that it's even worth it... In many counties if you get your value down $5,000, that is a difference of only about $140 annually of actual taxes paid. That may be worth fighting for, or it may not be, that is up to you. 

    Brian R. Baker, MBA 

    Texas Housing Partners LLC. 
  • 08 Jul 2017 6:37 AM
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    Reply # 4938335 on 4917328
    Tim Cook

    I agree, it needs to be worth your time.  I just won a 25K deduction on my personal home and 10K on a rental, both in Parker Co, so it was well worth the time.  Hopefully I win on two more rentals in Tarrant co later this month, one of which is my an IRA.

    The best tip I can give you is, do your due diligence as you normally do, don't go overboard on your justification for the reduced value, and provide SOLID evidence to support your request.

    Good luck.
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