Any day now, you should be receiving your property tax bill, which outlines the total amount you’ll owe the county by January 31st. Sadly, unless you’ve just purchased your property or are well-versed in the real estate market, the numbers will probably shock you. In fact, your taxes could be 10% higher than last year—or more!
You see, Austin is booming, and as our city grows in popularity, home values rise—and so do property taxes. But that doesn’t mean you have to stand for it. Our Austin Tax Services can help you prepare for your jaw-dropping tax bill next month and, better yet, even help you fight back.
Here are a few things you’ll want to keep in mind when opening that cringe-worthy envelope:
Your Neighborhood Plays a Big Role…
If homes in your community are selling for $50,000 higher than you paid for yours (and appraisers are able to justify those sales prices), then that drives your property’s valuation up, too. The higher your valuation, the more you pay in taxes.
And So Does the Market.
As demand for local housing increases, prices get higher and higher—and overly generous appraisals become the norm. Appraisers try to make their valuations better to match the going sales price, and in turn, real estate no longer reflects its true value.
You’re Not Alone.
Higher-than-expected valuations are becoming all too common—especially here in Travis and Williamson counties. In fact, if your home’s value looks too high, it’s likely that your neighbors’ valuations do, too. (That’s why we recommend banding together with your neighbors and protesting multiple properties within your neighborhood.)
Nothing’s Set in Stone
Despite the current state of the market, you don’t need to resign yourself to paying higher taxes. Our Austin tax services experts can protest your property value on your behalf. Just go through our quick, three-step online form, and we’ll protest your value next season.