How can I lower my property taxes? | #RealEstateTalk 013

 

Here are some easy ways to reduce your real estate taxes:

Check your tax account for accuracy – Go to hcad.org (Harris county appraisal district website) or mcad-tx.org (Montgomery county appraisal district website) and confirm your property’s information is correct. Confirm the accuracy of the information for pool, garage spaces, and especially square footage. Contact the appraisal district and dispute the information that’s incorrect.

File for exemptions – Check to see if you qualify for exemptions. Tax exemptions are available for veterans, homestead, individuals over the age of 65. The forms to file for exemptions are available on the county appraisal district websites of hcad.org or mcad-tx.org. Some exemptions can only be filed during certain months of the year.

If you already filed for exemptions, go online and confirm the exemptions have been applied to your account.

Protest the tax assessed value of your property – You can protest the tax assessed value of your property on fair market value or unfair taxation. If your house can’t be sold for the value its tax assessed at, protest based upon fair market value. To find out the fair market value for your house, contact a local Spring Texas Realtor and request sold prices of comparable homes.

If your house is tax assessed higher than a similar neighbor’s house, protest your taxes based upon unfair taxation. Look up the tax assessed value of similar homes in your neighborhood on the local appraisal district websites of hcad.org or mcad-tx.org.

If you don’t want to deal with protesting your tax assessed value, hire an accounting firm. Accounting firms that protest taxes typically work on a contingency basis.  If they are unsuccessful in lowering the tax assessed value of your property, they receive nothing.  If the accounting firm is successful in reducing the tax assessed value of your property, they earn a fee of 40% – 50% of the tax savings.

Read also: