Becky's Best Bungalow Bets for the Week of Jun 11, 2023: Top 5 + DIY Tax Protest Tips

Hello BBBB Friend,

It was a busy week for new listings in the Heights. I have selected 5 new listings to preview for you today. Also, it was a huge week for changes among homes that are Still on My List, I have 8 final sales to report, along with 7 new contracts and 8 price reductions! Click HERE to see these changes.

YOUR DIY PROPERTY TAX PROTEST

So, you have submitted your protest paperwork (it was due May 15); now what?

“Tax Protest” is a bit of a misnomer as you are protesting the market valuation of your property as of January 1st of the tax year (2023). Since you can’t affect the tax rate, your option to reduce your taxes is to reduce your market value. There are firms that can help you with your protest; they typically charge 25-50% of the amount of taxes they save you, OR, you can do it yourself. According to the Harris County Appraisal District, in 2021, 82% of DIY protests were successful vs. a 53% success rate for agent-led protests.

Here are my top tips for successfully protesting your market valuation:

• Obtain your "I-file" from HCAD to see evidence they used to develop your Market Valuation. The file will include “comps” or properties the district feels most closely match your property in terms of square footage, lot size, number of rooms, and grade adjustment. 
• Find your own “comps,” including recent sales and valuations of properties similar to yours.
  • Use HCAD’s advanced search function to find your own comps.
  • Ask a friendly real estate agent to run a Competitive Market Report for you.
• Provide “evidence,” including pictures and repair estimates that support a dollar adjustment or a lower “grade”. Examples: windows that need replacing, wood rot, cracks in the foundation or walls, etc. This is one of the easiest ways to get a reduction in value. 

PROPERTY TAX PROTEST WORKSHOP- JUNE 17th

Join the Bayou City Life Group at Compass and property tax protest expert Ray Holtzapple for a hands-on workshop on Saturday, June 17th. The workshop will occur at the Compass offices at 600 North Shepherd Drive, suite 535, from 10 AM to 12 PM. Reserve one of the remaining 5 seats by replying to this email.

Have a great week, and,

Let's look at houses or talk about selling yours!

Becky

CLICK HERE FOR THIS WEEKS BEST BUNGALOW BETS