Saturday:) SO, You LOVE Over Paying For Your Property Taxes, Right?

27 Apr

“We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.”

― Winston S. Churchill

*******************

Yesterday, I stopped over at the Collin County Appraisal District to protest my taxes, YET AGAIN. I protest every year. Just like my right to vote, freedom of speech and religion, I also have the right to protest my property taxes. That’s everyone’s right, and guess what? Very few people do.

I received my proposed property tax statement for 2019 and the appraisal of my home went up again. The market value appraisal increased $53,000 from last year! Even my good friend and “World’s Greatest Realtor,” Linda Grossman said, “THAT’S CRAZY!” If I could sell my house for that much, I would make a $107,000 profit in just 5 years. The sad part is, I couldn’t sell it for that much, YET, I am being taxed on that amount, and many others are too. My very first year, 2014, in my new house, my appraisal after being in only a few months increased over $50,000. I hadn’t even unpacked. I protested and they asked how much I thought it should be. I said, “How about what I paid for it a couple of months ago?” And, they complied. So, I protest every year. I can’t imagine what my tax bill would be if I hadn’t protested every year.

The line was short at the Collin County Appraisal District yesterday. I was asked if I wanted to speak to someone for an informal protest and appraisal review. I’m glad I went yesterday instead of waiting till nearer the May 15th deadline. My total time there was less than half an hour.

A very nice lady reviewed my information on her screen and even agreed that my statement and increase looked pretty high. She informed me that my property tax is based on recent sales and the tax base of the nearby homes with the similar square footage and age. She agreed that the numbers looked high, but that’s because not that many people protest their valuation and really should. So, everyone’s tax base remains high accordingly.

PROTEST YOUR PROPERTY TAXES, PEOPLE!!!!!! Not only are you paying too much, you are making everyone else pay too much. And here’s the thing, you can file a formal protest on-line. Sometimes they contact you with a lower settlement or they may give you a date to appear before a review board. Guess what? You don’t have to show up. They just keep your tax bill the same. Everyone should protest unless you feel your tax is fair and equitable.

My nice reviewer showed me what comps they used for my home appraisal. She showed me 3 comps, one high, one middle, and one lower. She said they could toss out the high and low and offer me the middle comp for my tax base. So, now my appraised value is $19,000 more than last year instead of $53,000 more. My appraisal has increased outrageously every year, so I protest every year. Was it worth my while? FOR DANG SURE!

When I left, my nice lady reviewer said, “Have a good day. See you next year.” I said, “You bet!”

So, if you LOVE over paying on your property taxes, just disregard all this information. If not, get over there and protest. The earlier the better, don’t wait till May 15th. Even if they don’t offer you a lower appraisal, (which is rare) sign up for a formal protest date. Sometimes they send you an lower offer in the mail later. You can bring comps proving your valuation for a reduction, or just not show up to the hearing at all. If you don’t show up or cancel, you’ll just pay the same anyway.

https://www.collincad.org/

Contact Us

Business Hours

Monday – Friday, 8:00 am to 5:00 pm

Location

Map

On Eldorado Pkwy, 1.5 miles east of Hwy 75. We are at the northeast corner of Eldorado Pkwy and College Street, McKinney, Texas

Mailing & Telephone Information

Collin Central Appraisal District

250 Eldorado Pkwy

McKinney, Texas 75069

(469) 742-9200

(866) 467-1110 (toll-free)

Collin County residents who are not willing or able to file online can also obtain protest forms at their appraisal district headquarters, located at 250 Eldorado Parkway in McKinney.

Last year there were 64,717 residential and commercial appraisal protests in Collin County with 14,600 protests from Plano, nearly 12,000 from McKinney and approximately 8,000 from Frisco, according to the Collin Central Appraisal District.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: