How Can I Lower The Property Taxes on My Texas Residence?
Here’s what you need to know about your Texas property tax bill and how you can lower it:
- Local appraisal districts value properties, and this value, multiplied by your local tax rate, is used to determine your property tax bill.
- Appraisal districts use mass appraisal methods to value properties, which often leads to overinflated values, raising your property taxes.
- You can lower your property tax bill by protesting the county’s valuation and applying for all applicable exemptions.
- The experts at Gill, Denson, & Company are here to help you present your case to the county and lower your overall tax burden.
How Are Texas Property Taxes Calculated?
The county appraisal district typically assesses properties yearly through mass appraisals, often using incorrect or outdated data. Texas property taxes are calculated by multiplying your property’s assessed value by the county tax rate.
Why Is Your Property Tax Bill So High?
The mass appraisal methods used by county appraisal districts frequently lead to inaccurate and overinflated values. They regularly determine values for many properties at once without even seeing them in person. Some value-affecting differences between properties can get overlooked, and appraisal averages can be skewed with more favorable comps. There are several ways to lower your property tax bill, however, including protesting your property valuation and filing for applicable exemptions.
Protest to Lower Your Texas Property Taxes
One way to lower your property tax bill is by protesting the property’s assessed value with the county appraisal district. There are several ways to approach the process: through informal negotiation, a formal hearing, or a judicial appeal. By presenting evidence, such as recent appraisals, comparable properties, and other relevant data, you can make a compelling case for a lower valuation.
Hiring professional firm like Gill, Denson, & Company to handle the entire process on your behalf can help strengthen your argument. Our team uses a data-driven and results-oriented process to develop a custom strategy to protest your tax appraisal. Our fees are based on performance, so our interests are always aligned with yours. Here are four easy steps to lower your tax bill by protesting the county’s valuation:
File for All Applicable Texas Property Tax Exemptions
Another way to lower your property tax burden is by applying for specific exemptions if you’re eligible. The Homestead Exemption allows homeowners to reduce their primary residence’s taxable value by $100,000. It includes a 10% “cap” benefit, which limits increases in the homestead’s appraised value each year. Additional exemptions are available for homeowners aged 65 plus, veterans, individuals with disabilities, agricultural and timber, and those affected by government-declared disasters. Check with your local county for available exemptions in your area and eligibility requirements.
Get started with Gill, Denson, & Company today to work on lowering your property tax bill! Our team of experts is ready to help you get the tax breaks you deserve.