Real-estate Taxes on my Home

So,
Tarrant county decided to increase the taxes on my home by nearly 50%

So I bought the house two Decembers ago, my first so didn't know the dirty rules of the game. Now the county I'm sure lines it's pockets when property changes hands, sales taxes or fees or something. But I didn't know they also take advantage of a buyer paying too much by immediately presuming the house is worth whatever some dumb sucker (me) was willing to pay.

So is it normal for the appraisal district to appraise a house at it's selling cost even if the selling cost was nearly 50% more than what the house was appraised the previous year AND there have no improvements to the house in years?

Like I said, I'm new to this I don't know how it works.

Need to get something else off my chest while I'm at it: so most new homebuyers I imagine are required to use ecsrow for their taxes and insurance. So the mortgage company throws a number at you for your monthly payment and you're like cool. Next the dirty bastards at the appraisal district are like good new homeowner, let's welcome him proper to the neighborhood and jackup his property value by 50%! Then sometime later on the county sends you a property value statement which I'm like OK... I'm happy with my monthly payments so, unaware of the scheming malicious plot, I don't really pay attention to the notice. Next, the appeal deadline passes. Next your escrow company pays the goddamn county and then they're like oh shit, we didn't get enough money from this guy so they jack up your escrow payment.

Now, when your paymeny goes up you notice something happened. Do your research and discover what they dirty bastards did and discover you can't do anything about it for the past year. Now I can appeal for 2017 taxes and I will. But meanwhile those motherfuckers taxed my house at 50% more than what it was worth and got away with it.

Anyways the point of starting this thread was a question that I need to return to:

Is it normal for the appraisal district to appraise a house at it's selling cost even if the selling cost was nearly 50% more than what the house was appraised the previous year AND there have no improvements to the house in years?

You should get a notice in the mail maybe around May or June letting you know your taxes are going up. You may call the tax office and talk to someone and see if you get it reappraissed can you get the amount lowered. It never hurts to ask.

You can file a protest with the Tax Office... The deadline to do this is May 31st... Since you are new to this, I tight be best for you to hire a company that does this type of thing... There are several in DFW...

Here is a good article:

http://www.star-telegram.com/news/lo...e71349052.html

I've done this a few times and lowered my taxes about 20% only to have them go up about 40% a few years later, TX property tax goes by value or what you paid if it's higher than current value

There's no need to hire any company to lower your taxes, just go to the appraisal district with proof why it's not worth what you're paying for taxes such as pics, repairs estimates that need to be done or updates that are needed.

Market value is defined by the law as the price that would be agreed to between a willing seller under no compunction to sell and a willing buyer under no compunction to buy. When you bought your house for $x. You created a very compelling argument it was worth the sales price. I would be shocked if the taxing authority came down below the price YOU paid absent some substantial adverse change in the condition of the house or the market. This area has been one of the best in the country over the past three or four years for appreciation of housing prices. That leaves the condition of the home. Unless you can show noted deterioration, I think you're stick with the price you paid plus market appreciation.

That's what I what I was afraid Tex. I'll definitely appeal. Besides motherfucking city of Arlington just tore up the street doing some water work. They're patch-up work looks like shit. That's gotta affect (or effect, not an English major) the value of the house.

Might be wrong on this but in Dallas county, they aren't allowed to raise the appraised value more than 10%.
I've protested 3 times and got a reduction each time. The factors determining this were:
Age of the house.
Comparable home sales in your area.
Condition of the home, as noted.

When you show up for your hearing, have an MLS listing of the homes that sold for a lower price, and any pics of cracking due to settlement. If you've had a foundation repair tell you that you need work, show them the estimate.

Lastly, if you've had several outcalls to your home, even better. Just show the panel your ECCIE reviews...

The cap on increases is if you file for a Homestead Exemption... Which you definitely should do...

DO NOT use the data from the Tarrant County tax office in your appeal. They respond to sales/market data for comparables in your neighborhood.
Trust me on this . . . personal experience this year.

Market value is defined by the law as the price that would be agreed to between a willing seller under no compunction to sell and a willing buyer under no compunction to buy. When you bought your house for $x. You created a very compelling argument it was worth the sales price. I would be shocked if the taxing authority came down below the price YOU paid absent some substantial adverse change in the condition of the house or the market. This area has been one of the best in the country over the past three or four years for appreciation of housing prices. That leaves the condition of the home. Unless you can show noted deterioration, I think you're stick with the price you paid plus market appreciation. Originally Posted by TexTushHog

True. However if two decembers ago you bought the house for x and the appraisal district says it now worth 2x, just challege it. They will almost reduce it automatically if you challenge it.

IF that still doesn't lower it to an acceptable amount, argue the value 2x would be so if it were "ready for sale". Further explain, with an itemized list with dollar amount of repair estimates ,what would need to be completed to make it "ready for sale".

@ Mooney flyer, I was planning on using Tarrant Tarrant County Appraisal information on home values in my area. I mean if I'm paying way more taxes than all my neighbors that makes zero sense. Information from their website is the entire basis of my argument.

Please explain a little more if you would.

So being a new homeowner in the area places me in a totally separate category from my neighbors. I'm expected to pay way more in taxes than they are? Is that normal?

Trade off for no income tax in this state.

Trade off for no income tax in this state. Originally Posted by Boltfan

Exactly.no state income taxes,but you get hosed on property taxes,it's a shell game.

It's the Obama economy. Just be glad your not paying rent. They get hit too and have nothing to show for it. Maybe Donald will do what the Bush's did and destroy the real estate market. More play money for homeowners