In Texas there is one central source for appraisals property taxing authorities use to determine value. They are called Central Appraisal Districts, and every county has one.
Their purpose is to assign values to your real estate, inventory and equipment that are in line with those they have assigned comparable properties. The Central Appraisal Districts (CADs) have nothing to do with setting taxes; the just determine values.
Each year, property owners are notified the value that the CAD has determined for each of the owner's property holdings.
You have the right to protest -- to contest -- the value(s) the CAD has assigned your property. You must do that in writing and you must do that no later than May 31st. This year, May 31st falls on Sunday.
If you do not feel competent to represent yourself before the CAD, there are services that will do it for you. Many charge a flat fee; others charge a percentage of the taxes that you will save as a result of their ability to get you a lower appraised value.
Finally, if you are still unsatisfied with the results of your protest, Texas provides that you may apply for arbitration. While the cost of this procedure is normally $500, its purpose is to save both property owners and CADs the cost of a lawsuit in district court. A list of arbitrators is available from the Texas Comptroller of Public Accounts office. The property owner and the CAD must agree on the arbitrator; if they can't, then the Comptroller will order they use one picked by lottery.
I am a arbitrator appointed by the Comptroller, and have been since this option was first made law by the legislature.
BILL CHERRY, REALTORS
DALLAS
214 503-8563
