It’s that time of year again. Property tax notices from the Denton County Appraisal District will be mailed on April 29th to all Denton County property owners. With property values rising, so do the taxes, but how much? Fortunately there is a 10 percent cap on the annual increase of your house’s taxable appraised (not market) value, but only for those homeowners with a homestead exemption. However, for those that bought a home this year, they don’t qualify for the homestead exemption within the same year the house was bought, and therefore no cap.
Since home sales are not public record, appraisers must guess at the value of a property. So, whatever the number on your property tax value, it does not necessarily reflect what your home would sell for in today’s real estate market.
If your property tax went up, you should definitely consider protesting. The deadline is May 31st, but you should prepare early.
Dave Lieber, the DallasNews.com Watchdog Column creater, shared how to go about protesting your taxes in The Watchdog’s 2016 Guide to Your Property Taxes.
If you would like to comparables to protest your taxes, just let us know. We’ll be glad to help.
Contact Bret Chance of Texas Home Life at Keller Williams Realty at 940-536-3735.