I'm a little confused between the value my house has been appraised by the tax assessor office and the market value based on comps.

Asked by Victoria Rodriguez, Lubbock County, TX Sat Nov 2, 2013

Can I use recent sales comps to possibly lower the value based from the tax asssessors office? What's the point of having them value my home higher if it is of no value to me?

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Tim Garrett, Agent, Lubbock, TX
Sat Nov 2, 2013
Ronnie and Debora are correct. The only consistent thing about the Tax Office is inconsistency.
1 vote
Ronnie Foy, Agent, Lubbock, TX
Sat Nov 2, 2013
Keep in mind the Tax Office has never seen the inside of the house. Tax appraisals, sadly are not a good indication of the actual value of a home. Over a long period in real estate, I have seen Tax values all over the map. A homeowner only ever becomes concerned when the taxable value exceeds the market value.

I can expect to hear from about 10 or so past clients every year when the new appraisal values go out from the tax office, and those are usually cases where the tax appraisal value exceeds the market value.

In no way do I pay attention to tax values, even as a general guideline for pricing a property. Occasionally, I will see a tax value on a home that is pretty much representative of the market value, but it is rare.

Texas is a closed record state, so the tax office does not have access to actual sales prices being verified by title companies.

I often find clients believing in information from Zillow. Estimates of what a home is worth. The Zillow Zestimate (estimate) is based on a California Model. California is an open record state and the tax authorities have direct access to actual sales prices, so the tax values are pretty accurate.

A cash buyer in Texas can fool a tax authority real easy since there is not even a paper trail of a loan filed at the courthouse and no appraisal being done. I know of one such expensive home that is being taxed a 65% of it's market value.
1 vote
Ruth and Per…, Agent, Los Gatos, CA
Sat Nov 2, 2013
Hi Victoria

You are absolutely correct, you need to get reliable comparables in the last
6 months to a year, and then file an application with the Tax Accessors Office.

You can get these forms from the Wen Site.

There generally is a deadline to make such as Application.

Prudent for you to call the Tax Accessors Office on Monday

Good luck.
1 vote
Debora Perez…, Agent, Lubbock, TX
Sat Nov 2, 2013
You can protest the value the tax assessor gives if you honestly feel you could not sell it for what the assessed value is and many times this is the case. Any realtor would be glad to do a comparative market analysis (CMA) for you and usually there is not charge for it. This does exactly what you say - it gives comparable sales in your area and with that, sometimes you can successfully fight the tax office!!! Please feel free to call me if I can be of further assistance - Debora Perez-Ruiz-MoVaDe Realty - 806-535-3016
0 votes
This is the answer you seek... Reach out to Debora.
I don't know her, but she gave you good advice.
Flag Mon Nov 4, 2013
Hi Debora! Thanks for the advice, I will definitely keep you in mind for further assistance.
Flag Sat Nov 2, 2013
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