Annual appraisal thread - how much did yours go up?

[nothermom]

In Dallas - ours went up 12%. The previous year it went up ~11%. We were previously undervalued because we bought in 2010 when the market had been very different and owners were struggling to sell, our house had been on the market for over 365+ days. Anyone remember those times? So we got a great bargain.

The %age increases everyone is sharing is not the full picture of whether home prices have increased across the board or at a given %age level. That they have increased we can agree on.

And then commiserate with each other on the increased property taxes we have to pay. But at least we are not a buyer in this market!

[Laminate7]

My house assessment in Frisco went up 20.4% from last year.

I bought the property last year and the previous owner had a homestead but when property transfers i had to file for homestead but county has right to reappraise - and they did!

Im only protected from the 10% cap in the second year of ownership it seems

[frenzyrider]

Originally Posted by Laminate7

My house assessment in Frisco went up 20.4% from last year.

I bought the property last year and the previous owner had a homestead but when property transfers i had to file for homestead but county has right to reappraise - and they did!

Im only protected from the 10% cap in the second year of ownership it seems

You can protest if it is significantly higher than your purchase price. They want you to protest so they can get your purchase price/ sales price. Then you can never go below it. If I were you, I will use the comps you got from your appraisal report if they were low.

[TXNGL]

Received our appraisal today. I have not looked at it yet, need some time to breathe deep and prepare.

[mSooner]

Potentially a silver lining...our home may have increased in value enough in the past three years that we could refinance into a conventional mortgage and ditch our FHA loan with PMI.

[stephwin]

So here is a general CAD question. I am planning on protesting. Can I ask the CAD how they come up with some of their appraisal numbers?

For instance, last year I protested because my property was unequal with others in the same neighborhood. The lady working there went back and forth with me because the houses I was comparing mine to were older than mine and apparently once a house hits 10 years, the value goes down. Mine was 9 at the time and the houses I was comparing to where 10 and 11. Not a huge difference. So I know they have certain criteria they look at when coming up with a number.

One thing I'm specifically wondering about this year is if there is a deduction for backing up to a major street. My house is nestled in the middle of the neighborhood, but there are some exact floorplans that back up to a major road (3 lanes each way; 50 MPH speed limit). I realize I can probably ask them if they knock a certain amount off for houses like this and how much. But more importantly, do they have to answer if I ask?

[jdallas]

mine went up 18% but last years appraisal was still below what I paid 2 years ago. I'm protected by the 10% cap as well. I'm not happy about it but even if I protest, it won't go below it's current 10% cap valuation if they use my purchase price and adjust from there.
Still, I kinda want to send a note back saying they can have it if they pay me what they say it's worth.

[hughesfamily06]

Is it possible to protest the appraisal on unequal valuation firat and if that doesn't work send in the HUD as a last resort? Or do you only get one protest? My home is new construction that we closed on in late 2014.

[CREW747]

Prosper-Collin County....20 percent!