Dcad bumped up my home price significantly for 2014 (West, Howe: neighborhood, new construction)

[Ralyks]

Originally Posted by mSooner

Is this true just for Dallas County or Texas in general?

I'm in Denton County, not Dallas. I don't know if it's a state law or a local law, but it says they can't raise the appraised value more than 10% a year plus improvements - so, if you add a pool, for instance, they could raise it more, of course.

[mSooner]

I'm in Denton County, not Dallas. I don't know if it's a state law or a local law, but it says they can't raise the appraised value more than 10% a year plus improvements - so, if you add a pool, for instance, they could raise it more, of course.

No, that's what I wanted to know. I'm in Dallas, and it says on our letter that they cant raise it more than 10% in a year. I was curious about Denton county because of my previous post about my mom's property that went from 40k to 150k in a year--275% increase in one year!!!

[derekv]

Originally Posted by mSooner

No, that's what I wanted to know. I'm in Dallas, and it says on our letter that they cant raise it more than 10% in a year. I was curious about Denton county because of my previous post about my mom's property that went from 40k to 150k in a year--275% increase in one year!!!

The 10% per year cap for increases only applies to a residential homestead, it wouldn't apply to a lot or rental property.

This can also bite buyer's in the rear when they purchase a capped property the value can rise substantially on the next years assessment.

[mSooner]

The 10% per year cap for increases only applies to a residential homestead, it wouldn't apply to a lot or rental property.

Ahh, that's probably it. Sucks for them! I wonder if the unsold lots were raised as much.

[BigDGeek]

My understanding is that Dallas CAD can raise your value by 10% each calendar year, not 10% per appraisal. So say for example you were last appraised in 2011. They can pop you 30%...10% for each year between appraisals. They're only required to appraise you once every three years, though they can appraise you every year if they want to. Nice, huh? Somebody please correct me if I'm misinterpreting this.

[Rakin]

You can file a protest on line. Get your RE Agent to run sales and fight those appraisals.

[dallasbred]

Originally Posted by BigDGeek

My understanding is that Dallas CAD can raise your value by 10% each calendar year, not 10% per appraisal. So say for example you were last appraised in 2011. They can pop you 30%...10% for each year between appraisals. They're only required to appraise you once every three years, though they can appraise you every year if they want to. Nice, huh? Somebody please correct me if I'm misinterpreting this.

That is what I understood from my letter. My value went up 37%. It was last appraised in 2012 so it is capped at 20% for now, but I am assuming it will just increase again next year. It's appraised well over what I bought it for in September 2012. I am going to protest, however, being in 75214, it was very hard to find comps that would help my case and not hurt it.

Anything else I should know about protesting besides taking pictures of "bad" areas of our house and bringing comps? Would my purchase price still be able to play a factor even though it was Sept. 2012?

[BigDGeek]

Originally Posted by dallasbred

That is what I understood from my letter. My value went up 37%. It was last appraised in 2012 so it is capped at 20% for now, but I am assuming it will just increase again next year. It's appraised well over what I bought it for in September 2012. I am going to protest, however, being in 75214, it was very hard to find comps that would help my case and not hurt it.

Anything else I should know about protesting besides taking pictures of "bad" areas of our house and bringing comps? Would my purchase price still be able to play a factor even though it was Sept. 2012?

Erm...pass. 75214 is WHITE HOT and prices have been skyrocketing there...I don't want to tell you something that may work out to be untrue or not advantageous to you. Basically I don't want to steer you wrong. There are people here who are much more knowledgeable than I am about that. I say fight, but past that I'm afraid I might be doing you harm by giving you advice. I'm sorry.

[europeanone]

I just received comps from the broker who sold us our house last year. If you do get comps, be sure to get them as close to January 2014 as possible as those are the comps that are used by CCAD. I will be filing electronically in an effort to stop the tax hemorrhage a little bit!

[FalconheadWest]

Your assessed value can raise as high as they want it to raise each and every year. The TAXABLE value can only go up a max of 10% each year if you have a homestead exemption on it. Just because the property wasn't appraised for 3 years, do NOT mean they can raise your TAXABLE value more than 10% for the homestead cap. If you don't have a homestead, you don't have any protection.