Taxes should be based on market value. The problem is most tax authorities have never seen the house.
They have no idea wha the value should be. They use a complicated algorithm that they won't share to determine what they say is the market value. Often this seems to be based on the surrounding property values. You can protest values and have them reevaluated. Best to take lots of evidence. Pictures are worth a thousand words....but you will also need to take comps of properties in similar conditions and show the prices they have sold for....you have to make your case why your property is not valued the same as others. Good luck
70 % expenditure increase in last 9 years!!!
When will this insanity stop?
Biennium Term Estimated/Budgeted
2000-2001 $101.8 billion
2002-2003 $114.1 billion
2004-2005 $118.2 billion
2006-2007 $138.2 billion
2008-2009 $167.8 billion
Get involved people GET INVOLVED!!!!
Thank goodness our property taxes are deductible on federal income tax.
Your questions is best answered by someone at HCAD. Give them a call; they will be happy to explain it to you. It has to do with the value of surrounding properties vs. the condition of the one being purchased.