Property Tax Assessments Coming In

[Tony Castronovo]

It's that time of year!  I am receiving all my property tax assessments and they are going up a lot!  I am getting a double whammy as most of my properties were purchased last year and I am now losing the existing homestead exemptions.  Maybe I should remove the exemption when plugging the taxes in my property analysis worksheet.  Ugh.

Anyway...curious if any of you protest your taxes.  Do I stand a chance?  I've been in front of the appraisal board before and it's tough to come out without licking some wounds.  Would appraisals or refi's be a factor?  Or could I show how I set the market value by my original purchase (which would be much lower than current market value)?  Do you hire anyone to help you protest or DIY?

[Vijaianand Thirunageswaram]

Tony, I hear your pain. It's good one to have if you plan to sell real quick not for investors like me and you who like to hold up. I got my rental prop in NW area appraised almost 15% last year which is good news but who is going to pay the tax??? I always protested them and reduced the value almost every time except once. 

I protest myself with all data i can provide with the recent sales and property condition between comps etc., You gotta to be prepared and bombard them with information. There are basic rules, don't use foreclose comps, dont include land value etc.,  if you know it and work your facts, it will come out your favor. All the best on protesting.  I never used company but there are only 1-2 companies out there doing it.  Some clients have asked about me protesting for them and thinking about it.