You could be for next yearAny protest for this years taxes need to be done by May 15th

I've researched the various protest methods and concluded there's a signficant gap between what the county valued my property at and what I valued it at using the income method. 

If appraisal was for 280K, but the county assessed the property at 315K, you either have an excellent case for a tax protest (and I hope you filled for that already) or you need a new appraisal.2. $200/unit is good, but not excellent.

It sounds like this is a good case to hand over to a local attorney who specializes in those types of protests. 

There was no protest from the seller's attorney such as, "Hold on!

Most people suggest you take matters into your own hands and file a protest online to get your home's tax assessed value lowered. 

However months later when the lease was up and there were other items I deducted from his security deposit, he protested. 

Make sure you protest your taxes annually to help reduce your costs.  

If they raise it more than what you paid for it, you should be able to protest the value and submit the required documents proving it is worth that amount only as well as comps if they are substantially lower.

@Dean Ingraham that would be a topic to discuss in further detail with your CPA/tax advisor.What I meant in the last post was RE pro test*.