It’s Tax Time!!
| Posted by Erik Johnson
May is Tax Time! As you can see from the recent articles below, there is much to talk about regarding Texas Property Taxes. Tax Reform is a hot button issue and SB 2 (formally known as, “Property Tax Reform and Relief Act of 2017”) is the latest push for a cap on increases.
I am seeing tax increases by the local CAD for 2017 from 20% to 40%. These huge adjustments are made to jump values ahead of the next few years and to head off a cap on rates with the possibility of SB2 passing. Unfortunately, most tax payers do not protest and accept the increases unchallenged. Those properties with huge increases can obscure the values in the market.
Our firm protests approximately 30 to 50 properties every year. It is rare that we ever not see a reduction when we find that a property has been overvalued.