2007 Property Taxes (Dallas, Plano, Highlands: sales, real estate, lender) - Texas (TX) - City-Data Forum

momof2dfw · 04-30-2007, 01:11 PM

Well folks, the Dallas County Appraisal District has posted their 2007 valuations. To check out your updated info or for a property your looking at you can find it at www.dallascad.org

I crossed my fingers & toes, held my breath, prayed really hard while pulling mine up. They have gone up every year on me and the last two were HUGE jumps. This year it stayed the same. WOO-HOO!!!!!!!!!!

kmegibow · 04-30-2007, 02:44 PM

Hi! I just logged in here to ask a question about the property taxes b/c I just received my appraisal. I was on here a couple of months ago asking questions about relocating, which we did. We just moved to Lake Highlands. SO, my appraisal is at about $100K more (land+house) more than we paid for the house, just 8 weeks ago. I expected high taxes but not high appraisal. Any thoughts? Do homeowners commonly appeal? Is it worth it, especially with this type of difference? Any advice, please? TIA! Kerin

Lakewooder · 04-30-2007, 05:29 PM

You can call up one of the appraisers and offer to fax your closing statement..otherwise you can file an appeal listing your reasons and evidence.

GoPadge · 04-30-2007, 05:36 PM

You can appeal successfully in Texas. We did on our home in Milford. You do want to document everything you can to prove you point that the assessment is too high. Pictures and notorized statements from contractors or other's help.

Parsec · 04-30-2007, 08:17 PM

Does anyone know what would the property tax be for a typical $300,000 home in Plano?

socketz · 04-30-2007, 08:23 PM

So what happens if you buy a 300k home and put no upgrades in it, but your nieghbor buys and throws 150k in upgrades in their home, 2 doors down. How is the apprasal done ? They just look at comps correct ? Or is the appraisal based on an agregate average cost per sq/ft ? Doesn't seem fair.

lh_newbie · 05-01-2007, 08:31 AM

Quote:

Originally Posted by kmegibow

Hi! I just logged in here to ask a question about the property taxes b/c I just received my appraisal. I was on here a couple of months ago asking questions about relocating, which we did. We just moved to Lake Highlands. SO, my appraisal is at about $100K more (land+house) more than we paid for the house, just 8 weeks ago. I expected high taxes but not high appraisal. Any thoughts? Do homeowners commonly appeal? Is it worth it, especially with this type of difference? Any advice, please? TIA! Kerin

The DallasCAD.ORG site has the process for appealing posted. I called their office before we closed on our home - we looked at several homes and all of them had appraisals higher than we would have paid for the home. They said we need to bring our closing documents with the sale price listed to them during the appeal window and it would be lowered. We just got our appraisal yesterday - it's the same as the previous year, but is still about $12K too high - so when we're through with that process, we'll save a small amount.

momof2dfw · 05-01-2007, 10:01 AM

Kerin,

Yes, it is common for property owners to appeal. Since you just bought your house you have two things that you need to take with you.
1. Contract that states sales price and closing docs.
2. Appraisal. If you do not have a copy of the apprasial done by the lender you need to get one. On the appraisal look at two things: price & square foot. Check the square footage that the appraiser came up with to what the DCAD has listed for your house. If the DCAD has it higher then they can lower it (this helps since they do caluclate by sq ft).

Also pull up area homes around you that are similar in size/condition. On the DCAD site on the property info it will give the condition of the property. If yours is "very good" then don't use one that says "fair" or "poor". Calculate how much per square foot on these homes and find a good average. Is yours above average per square foot? If so then argue that point as well. Now even though you just bought the house they will tell you that it goes by what it was worth on January 1st. I doubt the area has taken that hard of a hit in 4 months.

Have all of your stuff together and go down for an informal hearing ASAP!!!!!!!!! The sooner you go the better off and less wait times. I've gone when it has been VERY busy and waited about an hour max. Also the sooner you go if what documentation you have does not suffice for them to lower it you can go home and get more info and take it back for another informal hearing. YOU DO NOT WANT TO GO BEFORE THE BOARD!!!!!!!!!!!! Informal hearings are the way to go.

No, there is no rhyme or reason to how they appraice properties. It has been very interesting going down and protesting and hearing some of their excuses/reasons given for why I supposedly have one of the most expensive homes in the area. They literally crack me up.

cdelena · 05-01-2007, 10:44 AM

Quote:

Originally Posted by kmegibow

Hi!
...
SO, my appraisal is at about $100K more (land+house) more than we paid for the house, just 8 weeks ago. I expected high taxes but not high appraisal. Any thoughts?
...

The appraisers I have worked with use a pretty standard line that 'a sale is a one time transaction between two parties while the appraised value is an estimation of fair market value using a proven methodology '.

Condition, comparables, current neighborhood sales trends must be used to support the conclusion that a sale was at fair market value.

You may have a good case for an adjustment but don't use the sale price as the sole justification.

kmegibow · 05-01-2007, 10:40 PM

Thank you VERY MUCH everyone for your advice and information. I'll jump on this right away. I'm guessing the lender did an appraisal and hopefully they will share it with us. Otherwise, I can ask my real estate agent for assistance. I may be back with more questions but this is a great help to start. Kerin