Tax Sticker shock/ How to value a Duplex

[David Woz]

I have a Duplex in Fort Worth near the TCU area.  It is on the edge of the residential area that is "good" and the more sketchy part of Fort Worth.   The particular area has tons of Single Family, apartments and commercial, but very few duplex's and none that are remotely similar to mine.  (Mine is a 3/2 1800 Sq Ft. each side).

Just got my property tax and it went from 393K to 700K.   Yes, you read that right...   This would change it from positively flowing to me having to make a payment every month...

First, any advice on how to dispute, would be appreciated.  Has anyone actually paid for a professional appraisal?  

Second, Is there a "rule of thumb" on appraising a duplex in an area full of single family?   For example, worth 75% of two single family of same size/beds/baths?   

Just trying to wrap my head around this.

Finally, anyone want to buy a 700K Duplex!   LOL

[Pat L.]

We have contested so many & if we win it's for a year. Then back to the board for another try. Coincidentally the bldg inspector drops by & we get a code violation. We even had a violation for not mowing the grass on the property next door that we do not own??? So had to waste a day in housing court to fight that FOR THE SECOND TIME. We also got a code violation/fine on that same property for trash on the sidewalk after the trash bins were flipped in 60mph winds. But we did get that assessment back down to a 10% increase rather than the 200% increase they assessed for no reason other than the need for more city tax income.

The tax assessments here have & continue to kill so many potential deals. Our esteemed Govn'r (who just gave himself a 40% raise) touts his 2% cap on property taxes & yet we just got hit with a 12.5% increase in assessment on several properties. Then our low income tenants, who just got $9k back on their Federal, blame us because we need to raise rents. 

my 2cents!!!