2023 DFW County Appraisals & Assessments Thread (Dallas, Denton: sales, insurance, refinancing)

[AlecZTexan]

Tarrant county: from $674,300 to $1,127,000. Just experienced 20+% in 2022. Insane.

[denebj]

In Denton County, we closed a year ago on our new build. We paid 610k, so 2022 year tax was partial since the house was completed in March.
This year they valued it at $700k ... Hopefully we can protest by showing the closing statement and get them to lower to that amount ... That's a lotta of taxes ...

[Lorne]

Here is some relief for property owners in Allen:

https://www.cityofallen.org/CivicAle...ad%20exemption.

[serger]

Originally Posted by Leonard123

Their so-called "market value" this year is way off the charts, a nonsensical 20 percent jump over last year's. Does anyone know if you can only protest the taxable value or if it's worthwhile to protest their determination of "market value?" Due to the homestead exemption, the amount I'm being taxed on this year is still far below its actual value, and I wouldn't have a leg to stand on with that.

Collin County must have someone new or some new computer doing their appraisals this year.

It's exactly the market value, not the taxable one, that you protest. And yes, the homestead exemption limits the increase to 10% a year, but if you think that the market value is not reasonable, you should still protest. Online protest takes very little time. If unsuccessful, you can decide if you want to go the full blown protest route or not.

[aggie972]

Originally Posted by Leonard123

Their so-called "market value" this year is way off the charts, a nonsensical 20 percent jump over last year's. Does anyone know if you can only protest the taxable value or if it's worthwhile to protest their determination of "market value?" Due to the homestead exemption, the amount I'm being taxed on this year is still far below its actual value, and I wouldn't have a leg to stand on with that.

Collin County must have someone new or some new computer doing their appraisals this year.

Mine is up about 33% in Denton County, and is about $100,000 over the capped taxable value. I'll protest again this year to bring down the appraisal value, even though I won't be able to bring it below the capped taxable value. But I'm not going to spend a ton of time on the protest. I was in a situation last year too where I protested to bring the appraised value down but still above the capped taxable value, and I was hoping that the lower baseline value in 2022 would mean a relatively lower appraisal value in 2023. But that didn't appear to be the case. My appraisal this year is higher than I could actually sell my house for.

[Dashakhs]

I bought in November 2022 in Denton County for the first time as I moved to Texas.

Previous owners for 2022 had their appraised value at roughly 331 and their "HS cap" took them down 24k to an assessed value of about 307.

I applied for Homestead in February 2023.

A few days ago they updated the Denton CAD to show that my appraised value is about 380 but an "HS cap" showing 0 so the assessed value is the same---380.

Seems like an exorbitant increase. It was also my understanding it could only go up 10 percent a year max? Fully understand thst my understanding could have been incorrect, haha. Does that mean my Homestead application didn't apply yet? What's the best way to fight any of it if you guys think I am justified in doing so? I also roll my taxes and stuff into my mortgage, so does the mortgage company just automatically get the new taxes updated or do I have to submit something to them?

Thanks in advance.

[ThomasCrown]

Originally Posted by Dashakhs

I bought in November 2022 in Denton County for the first time as I moved to Texas.

Previous owners for 2022 had their appraised value at roughly 331 and their "HS cap" took them down 24k to an assessed value of about 307.

I applied for Homestead in February 2023.

A few days ago they updated the Denton CAD to show that my appraised value is about 380 but an "HS cap" showing 0 so the assessed value is the same---380.

Seems like an exorbitant increase. It was also my understanding it could only go up 10 percent a year max? Fully understand thst my understanding could have been incorrect, haha. Does that mean my Homestead application didn't apply yet? What's the best way to fight any of it if you guys think I am justified in doing so? I also roll my taxes and stuff into my mortgage, so does the mortgage company just automatically get the new taxes updated or do I have to submit something to them?

Thanks in advance.

The appraised value resets to current market value (what you paid for the home) for the year after you bought it, and could also have market gains after the purchase price factored in as well if you bought early enough in the previous year.


So no, for a new owner, the 10% max gain doesn't apply. For the following year, if they increase the home value again, the taxable value will be capped at 10% going forward, but the appraised value can still be higher than a 10% gain year over year.


What you can do is show them your purchase price and get it reset to that amount if your assessment is higher than that.

[stephwin]

We're in Frisco (Denton County) and ours went up ~14%.

[Dashakhs]

Originally Posted by ThomasCrown

The appraised value resets to current market value (what you paid for the home) for the year after you bought it, and could also have market gains after the purchase price factored in as well if you bought early enough in the previous year.


So no, for a new owner, the 10% max gain doesn't apply. For the following year, if they increase the home value again, the taxable value will be capped at 10% going forward, but the appraised value can still be higher than a 10% gain year over year.


What you can do is show them your purchase price and get it reset to that amount if your assessment is higher than that.

Thanks!

No, the assessment is lower. Purchase was 390.

I got a letter from the mortgage company about escrow evaluation and they had the tax number lowered and my payment actually lowered from about 2900 to around 2825. Not sure where they got that value but I didn't ask questions. I pay what they say I owe haha.

[biafra4life]

Well so much for the recession giving homeowners a break on property taxes.