Recent Dallas co homebuyers - Did your tax appraisal change to your purchase price? (Denton: sales)

[bchaney16]

I've found mixed information on this. I'm looking at a place in Dallas county and its current tax value is much lower than its market value. Will the tax value increase upon closing? It last sold in 08 and the tax value stayed the same but I've read that DCAD does use MLS info to adjust their appraisal.

Recent homebuyers in Dallas county - what was your experience?

[seat21d]

Originally Posted by bchaney16

I've found mixed information on this. I'm looking at a place in Dallas county and its current tax value is much lower than its market value. Will the tax value increase upon closing? It last sold in 08 and the tax value stayed the same but I've read that DCAD does use MLS info to adjust their appraisal.

Recent homebuyers in Dallas county - what was your experience?

Expect it to go up. When I bought about 6 years ago, my tax appraisal defaulted to the list price. I easily got it lower to the sales price I actually paid.

There are other ways to contest property tax appraisals in future years. I have had a tax agent for the last 5 years that goes to bat with comps in the area, and they have successfully lowered my tax appraisal value in each of the last 4 years.

[stephwin]

I don't know about Dallas CAD, but Denton CAD sent me a letter in the mail after we closed and asked how much we paid. It was optional, so I declined to tell them. I'm not sure if they would go look up the sales price if you declined to tell them, but maybe they do.

[BigDGeek]

When I bought in 2009, my next appraisal bumped the value of my house up by quite a bit.

I appealed on the basis that the square footage of the house had actually shrunk from the last appraisal since I had converted the previous owner's garage-to-playroom conversion back into a garage, so they needed to subtract 420 square feet and lower the appraised value. I won.

[Johnhw2]

Im in Collin county and my property appraisal jumped over 10% when I bought in late 2010. They jumped to the asking price and assumed I would fight it if I paid less. I didnt so I didnt!