The takeaway for today’s video? Always protest your appraisal.
Springtime is here, and it brings with it a letter that many homeowners seem to dread: the notice of appraised value form. If the results say that your home’s value has risen even a little bit, you should highly consider protesting the appraisal. Even if it didn’t change anything in the past, you should still do a property value protest anyway. It seems like they intentionally make it difficult in an attempt to dissuade people from protesting; it’s not hard to actually complete the form, but they push back quite a bit.
Still, do the protest.
Even if they decrease the value by a tiny amount, it’ll add up over time and decrease your home’s baseline value. You could have the same house as someone else, but yours is valued significantly lower than theirs because you continually protested. The squeaky wheel gets the grease, so be the squeaky wheel and save some money.
"If you don’t want to do it yourself, think about hiring a valuation consultant or similar tax representative to do it on your behalf."
Even at the start of the pandemic, I protested and was able to keep the value of my primary residence in check. However, each appraiser is different and some are more lenient than others, so it all comes down to luck sometimes. Regardless, I almost always have to go to the panel.
If you don’t want to do it yourself, think about hiring a valuation consultant or similar tax representative to do it on your behalf. They don’t get paid unless they save you money, so it’s a win-win situation for all involved. Again, it works to keep your baseline value low and save you money on property taxes over time.
Property values and related taxes have certainly gone up, and the trend is sure to continue next year. Again, soften some of the blow by making sure to protest. In the meantime, if you have any questions or would like more information, feel free to reach out to me. I look forward to hearing from you soon.