If yearly increases on your Bexar County property a major financial concern, you should know that you have the right to file a property tax protest every year. However, if you are like most people, you may have no idea how to start the process of filing a property tax protest in Texas. Although most major municipalities such as Bexar County have implemented a convenient online appeal feature on their website, data has shown that online appeals result in poor property tax appeal results. Fortunately, there are valuable local resources that can help you with filing a protest, arbitration, and even litigation for challenging high property taxes.
Here are 3 Reasons Why You Should Hire a Property Tax Consultant
REASON # 1 – THE EXPERTISE YOU NEED
In Texas, outcomes of property tax protests are based one of three valuation approaches:
- Income Approach – Most common for commercial grade properties, it is the analysis of comparable rental data, comparable operating expenses, and market capitalization rates to determine the market value of a property.
- Cost Approach – The current cost to rebuild, less depreciation, adding the value of the land to determine the market value of a property.
- Market/Sales Approach – Analysis of recent sales while adjusting for any differences in classification, size, year built and additional structures. This is the most common approach in residential appraisals.
Another accepted approach for property tax protest purposes is the unequal appraisal method. Section 41.43(b)(3) of the Texas Property Tax Code, states that a protest on the ground of an unequal appraised value of a property shall be determined in favor of the protesting unless the Bexar Appraisal District establishes that:
- Appraisal Ratio of the property is equal to or less that the median level of appraisal of a reasonable sample set; or
- Appraised value of the property is equal to or less than the median appraised value of a reasonable number of comparable properties appropriately adjusted.
A licensed property tax consultant is armed with tools that allow them to take a holistic view of your property’s current appraisal situation which allows them to maximize property tax reductions. With a strong knowledge of property laws and experience in real estate valuation, a property tax consultant can help in lowering your high property tax bills.
REASON # 2 – COMMITTED RESPONSE
It is not always easy to get a quick response when dealing with departmental bureaucracy. The appraiser’s office may not always offer last-minute support for sorting out your high property tax bill, but a property tax consultant in Bexar County will.
When you hire a property tax consultant, you can be rest assured of a committed response, even at the eleventh hour. He/she will prepare property tax estimates, review proposed values, file protests, prepare valuations, negotiate value reductions, attend Appraisal Review Board hearings, and appeal the board’s decision on your behalf.
REASON # 3 – GETS THE BEST POSSIBLE OUTCOME FOR YOU
While filing a property tax protest yourself is an option, it may not be the smartest one. There are several laws and policies concerning property tax exemptions in Texas, and you may not know about all of them. Also, there is always a chance of missing a property tax protest or payment deadline. But, with a professional property tax consultant to watch your back, you can be rest assured of availing all the property tax benefits that apply to your case and paying your lowered property taxes on time.
Also Read: How to Appeal a High Property Tax Bill
ABOUT PALADIN TAX CONSULTANTS
At Paladin, we are committed to delivering the best possible property tax reductions for the property owners of Bexar County, TX. Our property tax advisers have been consistently achieving results, year after year, saving our clients’ money on their tax bills. Here, we believe in results, and our approach includes our property tax consultation fees as well. Pay nothing if we cannot lower your tax bill. How about that?
Have one of our licensed property tax consultants analyze your property’s appraised value and provide you with a personalized appeal recommendation today.