Property taxes are a significant financial expense for homeowners in Texas. In this article, we’ve collaborated with the property tax specialists at Gill, Denson & Company to offer information about Texas property taxes and provide guidance on the process of protesting your Texas property taxes. Through this article, you’ll gain insight into your rights and receive assistance in navigating the procedures involved in protesting your property tax assessment.
Why Are Property Taxes in Texas High?
First, let’s discuss the primary reasons why property taxes in Texas can be relatively high compared to other states:
No State Income Tax: Texas is one of the few states in the United States that does not levy a state income tax. To compensate for the lack of income tax revenue, local governments rely more heavily on property taxes to fund public services such as education, infrastructure, and public safety.
Local Control: Local governments in Texas, including cities, counties, school districts, and special districts, have considerable autonomy in setting property tax rates. This can lead to variations in property tax rates across different regions of the state.
Rising Property Values: Texas has experienced significant population growth and economic development in recent years, leading to rising property values. Higher property values can result in higher property tax assessments, even if tax rates remain the same.
What Can You Do to Lower Your Texas Property Taxes?
Next, let’s review what you can do to lower your property tax bill.
Apply for Exemptions: Texas property owners have numerous exemption available to them. The most comment exemption is the homestead exemption, which is available to anyone homeowners for their primary residence. This exemption can provide savings that can range from a few hundred dollars to thousands of dollars for larger homes. In addition, there are exemptions for additional savings for homeowners that are 65+ year old and disabled veterans. Be sure to apply for all applicable exemptions before the April 30 deadline.
File a Protest: In Texas, every property owner has the right to protest their taxes. This process involves collecting and presenting evidence that your property is worth less than the appraisal district claims it is worth. You must present evidence in front of the Appraisal Review Board (ARB) and convince them of your arguments. Be sure to submit your protest to the appraisal district before the deadline, which is May 15 or 30 days after your appraisal notice, whichever is later.
Hire a Professional: The process of protesting your taxes can be confusing and frustrating for a property owner. The procedures and paperwork required are often difficult to navigate. We recommend hiring a professional property tax protest company to handle the process, ensuring you get the best possible result. We have partnered with, Gill, Denson & Company to offer our clients and visitors a discounted rate to use their protest services. You will only pay 25% of your actual tax savings. And here’s the best part – you will pay nothing if they don’t reduce your taxes, making this a risk-free process for you. Visit their websitr and use the discount code PROGRESSIVE when signing up online to redeem this offer.