How to resist the increase in US real estate tax [2024] Save thousands of knives every year property tax

In the United States, the annual rising real estate tax is an indisputable fact!
How to effectively resist the annual increase of real estate tax?Through Protest, you can save thousands of silver each year!
After reading this article, you will understand:

Calculation method of US property tax;
How does the house valuation come?
Is it necessary to protest the valuation of too high real estate?
How to resist the significant rise in real estate taxes?

Let’s start below!

1.How to calculate the US property tax?

In the United States, you need to pay a certain percentage of real estate tax (English name) for your real estate every year.The property tax includes urban taxes, school taxes, hospital taxes, etc.The calculation method is as follows.It is very simple:

Real Estate Tax = Real Estate Valuation X Property Tax ratio

The proportion of real estate taxes is in the United States, and even cities are different.

Taking Texas as an example, the real estate tax ratio is about approximate 2.5% ~ 4% If the property of $ 500,000 is an example, the annual property tax is about 12,500 US dollars to $ 20,000, that is, more than 100,000 yuan per year, which is indeed a lot of expenses.

2.Who will evaluate the value of the house?

The appraisal distribution of each district will send a letter about house valuations to the owner in March each year.The letter lists the house valuation of the year.The percentage of the valuation is charged.

If the owner feels that the valuation is incorrect, it can be protested before May 15 of that year (because COVID19 is postponed to June 1 this year), then you have the opportunity to negotiate with the appraisal agency’s valuation personnel.

If the negotiation is unsuccessful, you can participate in a hearing and debate the final valuation of the house.

If you have not reached a compromise in the end, you have a chance to go to court to continue to defend the price of your house.

3..Is it necessary for real estate valuation to protest?

Of course, must, must, must The important thing to say three times.why?

Save silver: Real estate tax is delivered in accordance with the proportion of house valuations.If the valuation is too high, the property tax should be paid more naturally;
Help your neighbors: If all residents in your community and even all the residents you sit in the city go to Protest, then the estimates of houses in the entire area can be reduced, and all residents can benefit and save silver;
Prepare for your next year: If you do n’t have Protest this year, the house valuation may be higher next year, so you need to go to Protest every year;

Not only do you have to protest this year, but you also need to protest every year.For example, last year my house valuation rose 9%in 2018.Through protests, the final valuation rose by 4.3%.If you do not protest, then your real estate valuation will rise significantly every year, and after a few years, you will be unable to fight.

Is the operation of the property tax protest complicated? It is not troublesome at all.In many cases, it is enough to operate online.

Through about 10 minutes of online operations, you can save $ 500 ~ $ 1,000 property taxes every year.

If you have decided to defend your property valuation, how do you do it?

4.4..How to protest the high valuation of real estate?

Find the letter of estimates sent you to you in March each year, find the URL in the letter, register your account, and find your house in your account.If you have multiple real estate, please operate one by one.

Click [Protest Property Appraisal] to complete the selection according to the prompt step.Generally, you will pass the following three phases The

Online mediation
Participate in hearing
Continue to appeal

The first stage:Online mediation

Online mediation, English is called online settlement,This step takes about ten minutes, and you need to enter the real estate valuation determined in your heart.

You can refer to on the one hand Redfin and Zillow Come and check the valuation of the house.At the same time, you need to find the valuation of other similar houses in the community and select one of the reasonable valuations.

After submitting online, the system will decide whether to accept this valuation, generally there will be two possibilities:

accept: Then your real estate valuation that year will automatically update the valuation you submit.
Not accepting: The system will immediately give you a new valuation.This valuation will be higher than the valuation you submitted.You can choose to accept it.Then the system will automatically update your real estate valuation, and you no longer need to complete the following steps.You can also choose not to accept, continue to protest, and then you will enter the second stage.

The second stage: participate in hearing

The hearing is alsoHearingEssenceSince you have not accepted the latest valuation given by the online system, you need to submit your determined valuation again (you can maintain the first valuation or submit a new valuation).

Select [Incorrect & Nbsp; APPRAISED (Market) Value] and [Value Is UNEQUAL Compared with Other Properties] in [Reason for Protest].At the same time, you need to submit some materials online as your protest reason.Redfin and ZillowPrinting data, as well as valuation information of similar houses around.

Select [In Person] in [Hearing Type], and finally complete all online steps.After waiting for one to two weeks, you will receive a hearing notice sent to you by the APPRAISAL district (Note: In this mail, you may receive a lower valuation.If you receive it, then you will not not receive it, then you will not.You need to perform the following steps), you need to prepare the materials and participate in the hearing as required.

In Texas, the number of people participating in the hearing is generally 5 (including you), one of which is the appraisal district valuation personnel, and the other three are reviewers (ARB).

During the hearing, you and the valuable personnel provide the materials to support the valuations identified by the materials.The three reviewers finally determine the valuation of the house, and will inform you on the spot, and will send a letter in the next few weeks.Formally notify you (in the United States, any formal notice is notified by letter).

If you choose to accept, you don’t need to perform the following steps.If you still disagree, you will enter the third stage.

Third stage: Continue appeal

Since you still do not agree with the final valuation given by ARB, you may have the right to appeal to the state courts of your prefecture, independent arbitration or the National Administrative Hearing Office (Soah), please check the specific operation steps to see you send it to youLetter.

5.The effect of protest!

Through unremitting housing valuation protests, the outstanding results achieved in the end:

2017:APPRAISAL & Nbsp; Distribu initially estimated that the purchase price rose 9%compared to the purchase price, and after protest, the final valuation rose 4.3%.
2018:APPRAISAL & Nbsp; Distribu initially increased by 9.4%compared to the purchase price.After protest, the final valuation rose by 1%, which was a lot lower than in 2017.
2019: This year, the rise in our house was exaggerated.The initial valuation increased by 14.5%compared to the purchase price, which was difficult to understand.After protest, it eventually rose by 10%.
2020: We are protesting.EssenceEssence

6.End language

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8.Reader Message

Through the above introduction, is your successful Protest your real estate tax?

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