Lowering home property taxes: How to protest, use increased homestead exemption
HOUSTON - It's that time of year when many homeowners receive their county home appraisal for their property taxes. Whether it went up or down, there are ways to reduce your tax bill.
There's a bit of good news this year. Nearly half of Harris County homes went down in value, after spiking in the hot real estate market of the past few years, and the homestead exemption was significantly increased.
The Harris County Appraisal District says a cooling real estate market has lowered values for 47% of homes, while 13% stayed the same, and 40% increased.
"This year is, I think, more of a return to the normal values that we have experienced in the past," said Jack Burnett of HCAD.
This year, HCAD simplified valuation letters to help homeowners better understand their appraisals.
And it is reminding owners to file a homestead exemption for school district taxes, which lawmakers increased from $40,000 to $100,000.
"That makes a big difference in the amount of taxes. That's why we say exemptions are so important, because they can reduce the taxes that you are going to be paying at the end of the year when you get your tax bill," said Burnett.
SUGGESTED: Houston woman's land stolen in title theft scam: FBI warns of growing trend
Homeowners may qualify for other exemptions as well, including those for veterans, surviving spouses, seniors and people with disabilities.
"You just have to kind of look at our website. We have a lot of information there. It depends on where you live," said Burnett.
Homeowners can also file a protest to try to lower their appraisal, by either hiring a firm or by protesting themselves through the district's online iFile program.
"Next step is you could be contacted by the Appraisal District for more information. Or, depending on how you file, if you use something that we call iSettle, then you can upload information when you choose to iSettle," said Burnett.
SUGGESTED: Tips to avoid car repossessions, catch up on late payments
You'll be notified if it's accepted or rejected. If you don't agree, you can have a Formal Appraisal Review Board Hearing, where you can present visual evidence of your home's condition, such as the roof or foundation, that affects its value.
You can also consult neighbors and realtors to get a sense of whether you think your appraisal is fair.
The deadline to protest is May 15 or 30 days from the date of your valuation letter.
HCAD is holding workshops on how to protest appraisals on May 6 at 5 p.m. at Sunnyside Multi-Service Center, 4410 Reed Road, Houston, and May 14 at 10 a.m. at the Harris Central Appraisal District at 13013 Northwest Freeway in Houston.