Half of Texas homeowners don't know they can protest their property taxes, study says
Some people might be surprised to find out that their taxes are negotiable -- at least when it comes to real estate. Specifically, 53% of Texas homeowners don't know they can protest their home's property tax evaluation, according to a study by Ownwell, a service that makes homeowners' cases for them.
The video above is from a previous report: New online guide for Harris County homeowners to help protest property taxes
Put simply, since homeowners are taxed on the assessed market value of their home, an over-appraisal by the local tax office can lead to paying too much in taxes. Homeowners in this situation can lower what they owe by telling tax appraisers what they believe the real value of the home is, and the two entities will negotiate to find an acceptable number. Appraisals reflect the value of the home on January 1 of that tax year.
For most Houstonians, the appraisal is made within the Harris County Appraisal District (HCAD), and the case will be heard by the Appraisal Review Board (ARB).
Continue reading this article from our ABC13 partners at Houston CultureMap.
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