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Old 06-04-2015, 12:12 AM
 
1 posts, read 683 times
Reputation: 10

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I received my 2015 appraisal (assessment) rate from Fort Bend CAD and I have "over 65" and "homestead" exemptions. It is interesting that my market value rose by 5% this year while my "appraised/assessed value" rose exactly 10%! How can this be? I thought that I receive a meaningful advantage on my annual appraisal/assessed value because I am over 65 years old. With my school taxes capped for the past 4 years, (and the remaining taxes not suffering major increases tax rates), I should think that my increase in actual tax should be less than it is. Since my Market value has risen by 10%, then my appraisal/assessed value cannot increase (percent-wise) more than my Market value and consequently my taxes would have to be less than what they would be for my market value. Another way to look at this is that, since my appraisal value increased 10% this year, then my market value would have had to increase MORE than 10%......and that would be illegal. What are the calculations being made to arrive at my assessed value? And what are the calculations to arrive at the final tax? This is in Fort Bend County.
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Old 06-04-2015, 02:18 PM
 
81 posts, read 138,739 times
Reputation: 42
Yeah FBCAD is out of control, I think they just jack up everyone by the 10% cap and see if anyone protests. I have no idea how they come up with comps, especially in neighborhoods where there haven't been any homes hitting the market for the last 3 years. There is no way my house increased in value by more than $110K in just two years. If they can find me a buyer for the appraised value, I might just sell my house!
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Old 06-04-2015, 04:01 PM
 
2,047 posts, read 2,984,276 times
Reputation: 2373
Quote:
Originally Posted by Coog05 View Post
Yeah FBCAD is out of control, I think they just jack up everyone by the 10% cap and see if anyone protests. I have no idea how they come up with comps, especially in neighborhoods where there haven't been any homes hitting the market for the last 3 years. There is no way my house increased in value by more than $110K in just two years. If they can find me a buyer for the appraised value, I might just sell my house!
Have you look at the house selling prices and houses being sold for right now?

They are just raising it to what the current market is.

I think they still got ways to go actually.

Lot of the older houses are apprised at least 10-20% less than what the few houses are selling for right now.
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Old 06-04-2015, 04:52 PM
 
26,191 posts, read 21,579,426 times
Reputation: 22772
Quote:
Originally Posted by Coog05 View Post
Yeah FBCAD is out of control, I think they just jack up everyone by the 10% cap and see if anyone protests. I have no idea how they come up with comps, especially in neighborhoods where there haven't been any homes hitting the market for the last 3 years. There is no way my house increased in value by more than $110K in just two years. If they can find me a buyer for the appraised value, I might just sell my house!

Sure there is a way your house appreciated that much, certainly not impossible. I'm in Harris but I've been hit multiple years in a row by the 10% cap but it's because my taxable value is still lagging my market value
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