Property Taxes Going Up in Houston

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tax increaseDo you have an idea of the amounts that you pay as property taxes? High as they may be right now, you can expect them to rise higher in the next few years. A study claims that the average taxes in the country are around $2,800 or 14% of the home value. The highest recorded value for property taxes is nearly $15,000. All of these are yearly figures.

So how are these taxes determined? If you consider the whole nation, there are many varying methods with which property taxes can be calculated. There are over 1350 local governments and all of them are permitted to set their own taxes, use their own calculation methods and place limits as per their own desires.

If you feel that you are paying excessive property taxes, there is a chance that you may be being overtaxed. A survey estimates that over 60% homes in the US are over assessed and if this is the case with your house, your calculated taxes will be higher and you will be paying increased amounts. We talked to some professionals and they advised us the following procedures for lowering your taxes.

  • Acquire your property records from your local office. In some states, you may be granted online access to these records. A property card is more formally known as a worksheet and mentions factors that have been used for evaluating your home’s value. These include area, lot size, bedrooms, bathrooms, and other features. If any of these are incorrect, your assessment is wrong, and you are probably paying higher taxes.
  • In most regions of the country, every home is assessed once every three years, and so these analyses may not match with recent price changes. An industry professional suggested that you should search for at least five homes in your neighborhood that are similar to your home, but have a lower value. If the difference between these values and your home value is over 5%, you have a strong case, and you might get away with a successful appeal.
  • Gather all your documents and informally meet up with the local assessor. If he does not cater to your request, file a formal appeal.  You will have to submit your appeal in writing along with evidence. You should hear back from the authorities within four weeks.

Good luck in sorting out your taxes.


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