Get Ready, Property Tax Appraisal Time is Almost Upon Us

Sean Elliott, Realtor, Vice President

I always call the CCAD this time of year to refresh my knowledge of property tax assessments which will be coming out soon. We always have clients, friends, and family who want to know if they should dispute their proposed property taxes for the new year, so this info is always helpful. Pretty much everyone is going to be hit with the maximum increase this year, so we’re going to field a lot of calls from angry homeowners.

  • Notices will go out mid April.
  • People have 30 days after receiving the notice to dispute their proposed value.
  • Comps are drawn from 2/1/21-1/31/22.
  • County will choose around 5 comps (depending on availability) to determine value.
  • Most disputes will be handled over the phone with a county appraiser, so people need to have their comps ready to discuss over the phone.
  • If someone did NOT have a homestead exemption for the ENTIRE year, then their property values can increase by any amount, there isn’t a cap.
  • If someone DOES have a homestead exemption for the ENTIRE year, then their property values can only go up by 10% max.
  • If someone added an improvement visible from the sky (pool, extended patio, guest house, barn, etc) then they can be hit by the 10% max PLUS an additional value for the exterior improvement.

So, if you’re going to help someone dispute their 2022 taxable value, then you need to provide them with the lowest possible comps which sold between 2/1/21 and 1/31/22. When they talk to the county appraiser, they can ask which comps were used to determine value, and then they can ask to substitute some of the higher comps for the lower comps which you provided to them. The rule of thumb when on the phone with the appraiser is to be professional, calm, and polite. They won’t want to help anyone who calls up frantically looking to pick a fight with the county.

If you are planning on contesting your property valuation, we provide a complimentary service which might help. We will schedule a 15 minute session with you to find the best sale comparables we can come up to defend your case. There are no guarantees, but we’ll do the best we can. We’ll start scheduling appointments the day in mid-April and after Collin County residents start receiving their notices.