Shocking tax increase

[Ben M.]

I have hired a company to do the tax protest for me. Last year the assessed value was 110k and the tax protest company brought it down to 107k. This year the assessed value was a WHOPPING 208k and the tax protest company brought it down to 138k.

Has anyone seen this type of increase? An increase by 100k after only one year seems very unusual and I had to pay a big fee to the tax protest company to bring it down to 138k. How does someone assess a property and increase it by 100k after only one year and I did not have any upgrades or major changes.

[Nathan Gesner]

There are a variety of reasons. Maybe your property was overdue? Maybe there's been a lot of sales or new construction in the area that's driving property values up?

Are you an out-of-state owner? If so, tax assessors will often assess higher taxes on out-of-state owners in the hopes that you won't know any better or contest the increase. 

I'm surprised they would try to jump it so high after you successfully contested the increase last year.

[Dallas Hayden]

107k to 208k? Small peanuts! This year the tax assessor increased the tax value of one of my properties from $20k to $76k, above most everything of similar size and well above any market comparables. I'm contesting it this year and will order an appraisal and appeal to arbitration if necessary. At least you were able to get the value dropped. 

[Jai Reddy]

@Dallas Hayden

Where is your property located?

[Emanuel Ohunwu]

@Ben M. What's the name of the company you used to contest the tax hike?

[Bruce Lynn]

What do you think the value of the property is today if you put it on the market?

[Dallas Hayden]

Originally posted by @Jai Reddy:

@Dallas Hayden

Where is your property located?

Pardon the late reply! Grayson County. I'm working with an appraiser to contest/tackle this.