“The right to protest to the Appraisal Review Board (ARB) is the most important right you have as a taxpayer. “ Dallas Central Appraisal District
If you think the property valuation assessment provided by your local/county appraisal district is too high– you have options– however time is of the essence. The rules and deadlines may be different for different jurisdictions, but the rules are public information so with a little research the required action steps and guidelines can easily be found.
It is often worth the effort as homebuyers who have purchased newly constructed homes are often under-assessed the first year of ownership. Buyers who purchase a home which is below former market values can easily be over-assessed during their first year of ownership.
In many jurisdictions there is an appointed board/panel made up of local residents who assemble to hear and review property valuation protests annually during a designated period. The process is free of charge, and typically yields a decision the same day. A property owner can appeal to the panel alone, or with the support of a designated party such as a local real estate professional. There is a cottage industry of firms which perform this process on behalf of homeowners for a fee—typically a percentage of the savings granted. There are real estate professionals who provide this service free of charge as an added value to clients.
When filing a protest prior preparation and adherence to prescribed timelines are crucial. In Dallas County, TX for example, all written protests must be filed by May 31st. (or the first business day thereafter) Typically protest guidelines are printed on the annual property valuation statement which your appraisal district mails to your home. In some counties, you can indicate on the form that you want to protest the valuation and mail it back to the appraisal district, thereby filing/initiating a protest. There may also be an online protest program for your appraisal district.
Check with your appraisal authority if you suspect that your home’s valuation assessment is too high. It may require a little homework but it could be well worth your while.
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