How to Lower Your Property Taxes in Texas
If you own a house, you are responsible for paying property taxes. These taxes pay for many different services in your community, including schools, streets, and public safety. The good news is that there are ways you can lower your property tax bill. However, you will need to do some research to find out how.
The first step is to find out the value of your property. You can research your local property value information online, or get the information you need by contacting your county’s tax office. If you believe your home is worth less than the assessed value, you can try appealing to the county’s Value Adjustment Board. The board will review your appeal and if they agree with you, your taxes will be lowered.
If you don’t qualify for a senior exemption program, you can challenge the assessed value of your home. Typically, this value is determined every year. If you disagree with this assessment, you can file an appeal. This will allow you to lower your property tax bill by a significant amount.
The next step is to find out what your home’s fair market value is. Home values have increased dramatically in the past few years. In fact, the average home increased in value by $50,000 in the past two years. That increase may mean that your property taxes will be higher than they were before. Furthermore, a recent report from the National Taxpayers Union Foundation said that up to 60 percent of taxable property in the United States is overassessed. This means you may be paying too much for your home. If you are unsure of the information on your property, you can contact your local real estate office.
There are many ways to lower your property taxes. One of the best ways is to compare your home’s assessed value with those of your neighbors. Look at the square footage, age, and style of homes in your neighborhood to find out whether your home is overvalued. Comparing your home’s value with similar homes can also help you argue for a lower tax rate.
The process to appeal property taxes in Texas is simple. Most counties have online protest forms that can be filed online. It should take only a few minutes to file the protest. Once you’ve completed the protest, you should be able to get your property value lowered. If you don’t get the reduction you deserve, you can appeal your property taxes.
Some states have tax breaks for certain categories of people, like veterans, seniors, and disabled people. Check with your local government to see if you qualify for any of these programs.
