Remodeled Home Jumped From $240K to $340K, Should I Protest?

[Frank S.]

I bought a personal home in February 2016 and spent 8 months remodeling it from the ground up, a total gut job. I moved in December 2016. The 2017 County Tax Appraisal recently came in at $100K higher than last year. What would you recommend I do if my goal is to pay lower property taxes?

I feel stuck because I did spend more that $100K, I spent around $125K. So if I fight it, they may come back with an even higher 2017 appraisal if they dig deeper. But I've heard other investors talk about strategies to lower the tax appraisal value. I've already homesteaded, any other tips or tricks? Hire a property tax law company to fight it for me?

Many thanks, BP community!

[Carrianne Mucho]

@Frank S. - if you spent 125K, and they only increased your assessment by 100K, it sounds like they did a conservative appraisal of the construction costs.  They may have just enrolled the value estimated on the permits.  Without solid documentation showing that you spent LESS than 100K AND evidence that the work did NOT add 100K in market value, you will be making a losing argument.  And yes, you are taking a risk that if they look more closely, the reassessment could be higher.