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Old 03-06-2010, 10:05 AM
 
37,315 posts, read 59,517,935 times
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checking some info on our country appraisal district site and noticed that one of our neighbors who have a pool--since home was built basically--do not have that info listed on their tax information--
so basically their home is undervalued by at least 40K...

would you make call to tax appraisal office without giving your name???

don't want to get in dutch with them--
but our valuation went up quite a bit and their house -- larger sq ft and lot--is valued less than ours and we DON'T have a pool...
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Old 03-06-2010, 10:15 AM
 
Location: Plano
225 posts, read 517,158 times
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Nah-that's splitting hairs in my opinion and market value for your home is different then tax value anyway. My home's market value in Dallas is 40k more than the tax value. When you go to sell, have a Realtor do a CMA for you and you'll get what your home is worth.

Btw-Pools tend to add about $10,000 in resale value for a home.

Ryan
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Old 03-06-2010, 10:15 AM
 
Location: Plano, TX
75 posts, read 243,970 times
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Pool doesn't necessarily add value to the home.
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Old 03-06-2010, 11:34 AM
 
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I was always told they don't add value and to only add one if you want one, but not for resale.
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Old 03-06-2010, 11:58 AM
 
Location: Plano, TX
994 posts, read 2,439,619 times
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I know somebody whose has had a house on the land for several years, but it's not showing up on the tax records as a house, just as the land associated with the address. I haven't asked him about it, but am assuming he has some buddy in the tax office or something.

As far as valuations, guess you need to take a day off of work during the appropriate time period and protest. I did it last year, although I waited maybe 5 hours and only talked to the county appraisal worker for like 8 minutes. The person I got was very professional, nice and happy (that I had all my paperwork in order), and he dropped my valuation a little more than it probably should have been. The county are likely over appraising the properties in anticipation that the people won't complain (or that many will be happy that their property is valued so high); I was irked because I had bought the house early last year and they valued it at about 20k more than I paid for the house. So, I got it dropped to actual purchase price.
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Old 03-06-2010, 12:17 PM
 
Location: Katy,TX.
4,244 posts, read 8,707,130 times
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Quote:
Originally Posted by loves2read View Post
checking some info on our country appraisal district site and noticed that one of our neighbors who have a pool--since home was built basically--do not have that info listed on their tax information--
so basically their home is undervalued by at least 40K...

would you make call to tax appraisal office without giving your name???

don't want to get in dutch with them--
but our valuation went up quite a bit and their house -- larger sq ft and lot--is valued less than ours and we DON'T have a pool...
You're a great poster, I'd hate to view you as a snitch lol

Last edited by usc619; 03-06-2010 at 01:22 PM..
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Old 03-06-2010, 12:20 PM
 
Location: Plano
225 posts, read 517,158 times
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Yes, a pool is usually going to add market value to a home, not sure about the tax appraisal side. The problem is that around %80 of buyers don't want a pool because of maintenance, young children, etc. When I run an analysis for a listing, if I am comparing two equivalent homes with one having a pool and the other not. I'm going to usually adjust upwards about $10,000-$12,000 depending on if it has a spa or not unless there is a material reason I shouldn't.
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Old 03-06-2010, 02:14 PM
 
Location: DFW
40,920 posts, read 48,858,158 times
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I would let it be, it's not affecting you. Surely they filed a permit to install and if it's not in the records maybe the county made a mistake.

How about if your home was undervalued ? Would you call and have the raise the value to a higher price ? Most people would not, so let the taxman fix his own mistakes.

Better yet, protest your taxes as being too high since you don't have a pool.
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Old 03-06-2010, 02:51 PM
 
Location: Santaluz - San Diego, CA
4,498 posts, read 9,353,375 times
Reputation: 2015
No... bad karma.
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Old 03-06-2010, 03:40 PM
 
37,315 posts, read 59,517,935 times
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my home is not undervalued since by some miracle the tax office sent our appraisal for the exact amount we paid for the house (which in MY opinion was too much--but my husband was willing to pay extra for some things we could not find in other homes but that don't necessarily add market/taxable value)...
normally the tax appraisal district is NOT sent copy of the closing document for house sale so they have no clue what you actually paid for a house you buy--and we did not pay MLS listing price either...

the appraisal office DOES add increased value to a house because if you will note on the Tarrant county appraisal page for any house in Tarrant co (have not checked other counties to see how their standard format might differ)...there are four items underneath the valuations for past years:
garage bays--
central air
central heat
pool

I think it is forgone conclusion that a house without central air/heat is probably going to be valued as less desireable than one with--even if central HVAC are taken as standard features of house--
same with garage bays--having 3 or 4 vs 2 generally sets a house as more desireable--
thus, a pool would certainly seem to also be of added value--whether or not you get all of it out when you sell is of course is debateable and varies greatly ...
it certainly cost most to build a house with a pool vs one of same size without--so homeowner would have put value into a house by doing that--

where as a house with 4 garage bays and 2000 sq under HVAC is going to be probably valued as less expensive than a house with 2500 sq ft under HVAC with 2 garage bays...

same thing happens sometimes when builders submit one plan to city and then add sq ft under roof/HVAC by turning attic space into a media room or playroom...media rooms especially can be difficult to determine because they often don't have windows--
technically there are only a few rooms that can get away with not having a window for egress in event of fire or other danger--a kitchen is one because it is usually open to breakfast/family room...a bathroom is another because most of them are not considered living space like a bedroom is...
you can't have a bedroom that does not have a window (or closet)

it is just not fair--that is all I am saying--and THEY get statement showing what their house size, garage status, other factors--so they should know they are being undervalued...basically I am not in favor of anyone paying more than their fair share--but just think that people SHOULD pay their fair share...
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