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You’re likely scratching your head when it’s time to pay your property tax. This is mandatory and should be paid by everyone who owns taxable properties. It doesn’t matter whether you own residential or commercial property. Even when you have fully paid your mortgage, property tax remains a significant expense. To help assess how much tax you should pay, appraisal districts like the Harris County Appraisal District in Texas appraises your property. However, HCAD has increased the value of around 20% of houses by 20% and even more. WHAT ARE PROPERTY TAXES FOR? Property taxes are paid to the government to provide services for the country. This is where they get funds for public schools, free health services, public government officials like the police or firemen, and more. Without taxes, it will be hard to provide any free and quality services to citizens. That’s why it is a mandatory regulation to pay your property taxes every year. But that doesn’t mean you should be pa...

The   Harris County Appraisal District   is the biggest in the state of Texas. That’s why many property owners trust them in making property appraisals for them. But recently, HCAD has increased the property value of around 22% of houses this year. The increase is around 20% and even more for some properties. How do affected property owners deal with this and what does this mean? PROPERTY APPRAISAL In a nutshell,   a property appraisal   is the estimation of the value of a real estate property. It is mandatory in the   state of Texas   to have a real estate appraised at market value every January 1 of each year. This would include all taxable property whether it’s residential or commercial. HCAD, being one of the biggest, appraises both residential types and commercial real estate properties. They cover thousands of properties each year. However, it is impossible to cover every property and visit them personally to assess their real value. ...

Yearly properly appraisals are mandatory for different states in the United States. However, some do it every two years or so. Normally, appraisal notices are sent out to every owner of taxable properties on January 1 of each year. Then they have the right to protest their assessed value usually because it’s deemed too high. Indeed, there have been several appraisal districts like Harrison County Appraisal District in Texas that has jack up appraisal values of thousands of homes. Is this the new trend? INCREASED APPRAISAL VALUES Property owners under the appraisal services of HCAD have likely seen an immense increase in their appraisal value. Based on a sample of 54,612 houses, a full 22% has shown an increase of an average of 28%. This is incredibly high compared to the 3% increase of Houston Association Realtors. Since HCAD is the biggest appraisal district in the state of Texas, this begs the question if the chief appraisers are competing with each other to get the l...

Cities all over the country (and the rest of the world) are grappling with pension fund problems. Every year, pension obligations increase, and city officials have to come up with ways to meet those obligations. One of the most common ways cities fund pension payments is by increasing property taxes. In fact, over the last decade, citizens in many cities have seen their property taxes go up every year. And judging by the state of many pension funds in many parts of the country, it looks like property tax hikes of varying degrees will remain the norm for many for the foreseeable future. PROPERTY TAX RATES AND PENSION FUNDS IN ILLINOIS In Illinois, a growing list of cities and municipalities have been seeing rising property taxes, with officials struggling to pay for pensions. In the city of Quincy, for instance, homeowners will see a higher property tax rate in 2019. The increase is geared towards meeting the surging cost of pension obligations According to  Illinois Po...

Taxes that you pay every year helps your community grow, as it funds your local schools and government. However, the increase may affect you greatly as homeowners are  estimated  to pay around $2,000 for their property tax at the end of each year. Even after paying off your mortgage, the amount you need to pay may still seem staggering. Before you start worrying, the good news is that there are ways to lower your taxes before the notice comes. STUDY YOUR PROPERTY TAX CARD Most homeowners don’t realize that they can just drop by the town hall and request a copy of their tax card from the local  assessor . With this card, it shows the information of the homeowner’s property, like the lot size, dimensions of the home, and other data that they’ll need to compute taxes with. Asking for your property tax card and reviewing it for discrepancies is one of the easiest ways you can possibly lower your taxes. It’s a very simple step that most homeowners miss but letting ...

Reviewing CDU and grade of your home Review the appraisal district’s description of grade and CDU (condition, desirability and utility) for your house. Grade is a qualitative evaluation of the construction materials and level of craftsmanship used to build your house. Most appraisal districts have about eight to 15 different grades to describe homes of varying quality. Entry-level appraisers typically make the initial estimate of grade. The appraisal district’s estimate of grade for houses within a subdivision often varies for homes that are essentially identical. This can occur when two or more appraisers are evaluating the grade of properties within a subdivision. The CDU or condition factor is highly unreliable. However, the appraisal district uses this as a key factor in valuing your property. The appraisal district, in most areas, believes it actually knows the quality and condition of improvements in homes that are 20-to-80-years-old, even though they have not been in the hou...

The Primary Duty Of The Taxpayer Liaison Officer (TLO) Is To Resolve Conflicts Between The Appraisal District And The Taxpayers. Important responsibilities associated with the Taxpayer Liaison Officer are: PROFESSIONAL TREATMENT TO CLIENTS/PARTIES The Taxpayer Liaison Officer reports directly to the appraisal district’s board of directors and not to the chief appraiser. Their primary role is to resolve problems not addressed through the normal channels. RESEARCHING AND ENHANCING COMPLAINTS IN DETAIL After getting adequate information from the complainant, the Taxpayer Liaison Officer researches the complaint with an objective of resolving any legitimate complaints. Subsequently, a report is submitted along with comments and suggestions to the appraisal district’s board of directors at their next meeting. The TLO is required to report on all complaints and whether or not they have been resolved. INVESTIGATION AND ERROR MANAGEMENT The Taxpayer Liaison Officer is resp...