Parker County Today April 2018 - Page 15

Property Tax Binding Arbitration: Lowering Your Property Taxes through Alternate Dispute Resolution By Jonathan W. Lehrmann Texas has one of the highest property tax rates in the country. Property taxes are based on the value of land and buildings the assessed value of which may rise with the growing real estate market. However, there are avenues for owners to challenge assessments that they consider too high. Appraisal districts are the entities responsible for appraising the value of property within their district. While districts may send assessors to investigate specific properties for an individual- ized inspection, mass appraisals are commonly relied upon. Using data from recent property sales, districts frequently calculate average prop- erty values for classes of property based upon factors such as size, use and construction type. The appraisal districts then make adjustments to account for certain property-specific details. While this process is more efficient and cost- effective than individualized inspections, it lacks the precision of a process that scrutinizes each property individually. For more information regarding Tax Property Binding Arbitration, you m ^HY\H^\\\وXXX[8&\X]K܈ۜ[][]܋B^H^\Y[Y[\H^\Z\[X]\˂\\XH\[\[[]\KY[HYY\\[H[ܚ[[\^HY[\[\Y\[H[۝X[^\Y[YX܈[[\[]ܛ^Kۘ][ˈZX[\[\X]H]\\[^H K ˈ[X[YXXH[^\ˈH[HXXY]Z BX[]˘H܈] MN N K[ܙ\]X[YH܈\]][ۋH\Bۙ\]\H\[ۈ^\ۈHXX\H[]\[HH\]Y\܈[[\]][ۈ][ H^\وXZ][T&\™X\[ۋ]\]][ۋHۙ\]\ݙB\]][ۈ\[[[\\][YHق\X[^\YH\Hۙ\[X\]][ۋ۝\[K[\X[\X\[[Z[]\H[ۈو\]][ۋ\H\Hۙ\]\H]Y[\]][ۈ[\X\ [H[ݚYHH\Hۙ\]B\][ۈH\Z\[\YK\]][ۈX^HB\\\^[]K[[ܙHZ[HݚYHBX\[ۋ[XZ\]\^\Y[H]\Z\[قX[\KYH\Hۙ\[Y]\H\Z\[\X\ݙ\]YH[YHوH\KBۙ\[\HX\[ۈH\Z\[]Y]\ 8'T'JK]\ۙ\ٝ[[XZ[\]\ٚYY][Y\T[\BX\[ۋYܙH K[ۙ\&\ۛH[ۂY\[[X\ٝ[T]\Z[][ۈ\\X[H]H\X\ XYX[H\Hۙ\Y[H[X]HB]Z] \[[ۈH[X][ۈ[[[]\YK]Y\Y\[^[\[^YY[H[[X]H^][ˈ]\\Bۙ\[\X[[[\[[\KB]܋ۙ\H\]H[[\\B^H K JJJ JH܈ KXݙ\˜H\Hۙ\&\Y\]H\Z\[[Y\\[X\]H܈[\]X[[Z[\ B\Y\˂HH\ۙ\B[Hو]Y[K] JHB\Z\[\]X\ L\[Y\[BYYX[\Z\[وHX\ۘXB[\\[]]H[\Hو\\Y\[B\X HH\Z\[\]X\ L\[Y\[HYYX[\Z\[وH[\Hو\BY\[H\Z\[\Xۜ\[وHX\ۋBXH\و\\Y\[Z[\H]X]Y܈وH[YH[܈\X\وH\B[\]N܈ HH\Z\[^YYHYYX[\Z\Y[YHوHX\ۘXH\و\KBXH\Y\]]HY[\X][HY\ BYX]H\H[\]K]\[\ܝ[܈\Hۙ\H[Y[[[B[X\[\Hو[\H\Y\[YY\ۂ[[Y\[܈\ܙ\[Y\]Y[B[\H\H[HXX\KL