Step-by-Step Guide for Analyzing Your 2017 Notice of Proposed Value

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Is it just us or has the year flown by? We can’t believe it’s already May, which is when our team really kicks it into high gear. Most Appraisal Districts have already sent out the 2017 Notices of Proposed Value for commercial real estate properties in counties across Texas, so you should have already received yours, or you will soon. We know the tax season is everyone’s least favorite time of the year, so we are here to help relieve some of the dread and help answer your real estate tax questions.

To start, we’ve put together the following step-by-step real estate tax planning guide that outlines how you can proceed with the evaluation of your property and potential real estate tax appeal.

  1. Review your assessment. Closely analyze your commercial property’s evaluation shown on your notice. It’s extremely important to take the time to review your assessment.
  2. Verify your property’s information. Use your appraisal district’s website to verify your property’s records. Ensure information like the year of construction, property classifications, land and building square footage, etc. are correct.
  3. File a written property tax appeal. Once you’ve done your research and you’ve come to the conclusion that you do not agree with the calculation on your notice, you must file a written real estate tax appeal by the protest deadline, which will be shown on your notice. Typically, the deadline is 30 days from the date listed on the notice, or May 31 – whichever date is later.
  4. Form your case. Just like in any situation when you disagree with an outcome, you must build your case against your appraisal district’s evaluation. Your first step will be to find out how your commercial real estate property compares with other similar properties on the tax roll. This is a very important step in the property tax appeal process because the purpose is to gather information and prove that your property is evaluated at a higher value than other like properties. If your property is an income-producing one – office building, warehouse facility, retail center, apartment community, etc. – you must provide the financials of your property to the district.

We hope this guide will help in your real estate tax planning during the 2017 real estate tax appeal season. But, if handling your own property tax evaluation and appeal doesn’t sound all that “appealing” to you, experienced property tax consultants can handle the whole process for you and file your real estate tax appeal on your behalf. Many property tax consulting firms, like Kurz Group, work on a performance fee arrangement – no tax savings, no fee – so why not give it a try?

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