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Old 05-03-2019, 03:33 PM
 
319 posts, read 263,241 times
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Quote:
Originally Posted by liberty0710 View Post
We are under contract on a home in Fort Worth. I'm following this thread, since we're new to TX. We're paying significantly less than what the home appraised for and was listed for. Should I argue that we pay taxes based on the sale price or will my taxes be based off of the appraisal - which I don't think the county know - at least not initially.

See what the county appraised your property at, that's all that matters. Look it up on tad.org. Often times with new construction, the first year on the books, the value will be significantly lower than your purchase price. If it's higher than your purchase price, simply present your purchase contract to get them to match it.

It will probably be the former case, though.
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Old 05-03-2019, 03:45 PM
 
Location: Fort Worth, TX
1,770 posts, read 1,012,945 times
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You taxed value is based on what the TAD appraises it at but you can contest it if your purchase price is lower than the TAD appraisal. That’s what I just did. You also need to remember to print out the homestead exemption papers from the website and mail them in.
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Old 05-03-2019, 03:51 PM
 
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Thanks. I just looked it up, and it's way higher than what we paid. Is there a deadline to dispute this? We close in 3 weeks.
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Old 05-03-2019, 04:07 PM
 
319 posts, read 263,241 times
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Quote:
Originally Posted by liberty0710 View Post
Thanks. I just looked it up, and it's way higher than what we paid. Is there a deadline to dispute this? We close in 3 weeks.

The deadline is May 15. However, you are not currently the owner of the property, so I don't know how you would be able to protest the value. That's a tricky situation. Give TAD a call and ask.
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Old 05-03-2019, 06:38 PM
 
Location: Grapevine, Texas
10,113 posts, read 21,343,827 times
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Quote:
Originally Posted by liberty0710 View Post
Thanks. I just looked it up, and it's way higher than what we paid. Is there a deadline to dispute this? We close in 3 weeks.
I assume you have a certified appraisal in hand? Once you close, take that to TAD and show them.
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Old 05-04-2019, 08:11 AM
 
31 posts, read 21,288 times
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The Tarrant County Property Tax appraisals I believe are mostly based on what the internet home finder Zillow says in its home value estimate. So Tarrant County does hardly any work at all determining home values. What ever Zillow says that is the value. The only problem with this is until you sell you should not be taxed at these higher amounts. It is an unrealized tax to the home owner. Texas is second to Illinois as having the highest percentage of tax on property. And the greed does not stop there we have Red Light cameras everywhere.
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Old 05-04-2019, 12:10 PM
 
319 posts, read 263,241 times
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Quote:
Originally Posted by pickels View Post
The Tarrant County Property Tax appraisals I believe are mostly based on what the internet home finder Zillow says in its home value estimate. So Tarrant County does hardly any work at all determining home values. What ever Zillow says that is the value. The only problem with this is until you sell you should not be taxed at these higher amounts. It is an unrealized tax to the home owner. Texas is second to Illinois as having the highest percentage of tax on property. And the greed does not stop there we have Red Light cameras everywhere.
You think TAD uses Zillow numbers to value the county's homes? That is not remotely true.
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Old 05-04-2019, 12:35 PM
 
Location: Fort Worth, TX
1,770 posts, read 1,012,945 times
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If they used Zillow, then how did they do it before Zillow? I have a feeling they know better than to trust Zillow since it's not very accurate.
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Old 05-04-2019, 02:42 PM
 
1,049 posts, read 1,339,694 times
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They definitely don't use Zillow, but from my understanding their methods are very similar. Both lack a nuanced understanding of specific, on the ground information.
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Old 05-04-2019, 07:11 PM
 
31 posts, read 21,288 times
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Easy enough to find out. Put your street address in the google box. Click on the Zillow link. Check their estimate.
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