Keep An Eye On Your Property Tax Values.

As we head into tax season, it’s time to keep an eye on your property tax values.

Tomorrow, the Tarrant Appraisal District (TAD) will begin sending out value notices outlining your home’s market value, taxable value, and any exemptions you may receive, such as for homestead or senior citizens.

If your home was 100% complete by January 1, 2024, you likely won’t see any changes in your market value from last year. However, if your assessed value is lower than your market value due to exemptions, it could increase by up to 10% annually until it matches the market value.

For homeowners with incomplete or unbuilt properties by January 1, 2024, their home’s value will be assessed as of January 1, 2025.

This is important because you can protest your property value every year. The deadline for filing a protest is May 15th or 30 days from the date your value notice is issued, whichever is later. While you can protest after this deadline, the requirements are stricter and more complex.

Even if your property value hasn’t increased, a protest’s still worth considering. With the TAD Board of Directors rolling the 2024 market values into 2025, tax rates from local entities such as FWISD and the County will likely rise to make up for revenue shortfalls.

For instance, a home valued at $500,000 last year paid $11,220 in taxes. If the tax rate increases to a conservative 2.4%, taxes could rise to $12,000, even if your home’s value stays the same. Your taxes will almost certainly increase if there’s a gap between your assessed and market value.

If you’re wondering how to navigate this process, IntegraTax, Inc. is here to help. With over 24 years of experience and a strong relationship with TAD, they specialize in reducing property taxes for our clients.

Last year, IntegraTax saved Benbrook homeowners an average of $450. They also have access to exclusive data that other firms might not, and pride themselves on offering personalized service to each client.

To get started, send a direct message or email me at rdunson@integratax.net. Please mention that you’re a Benbrook resident and receive a discount off IntegraTax’s normal rates.

Don’t hesitate to ask any questions, and let’s ensure you’re paying the right property tax this year.

Related news:

Tarrant County Takes Targeted Approach to Homestead Exemption Audits. Tarrant County Homeowners Face Steep Property Tax Hikes. Texas Homeowners: What to Know About Reapplying for Homestead Exemptions. Texas Senate Pushes for Bigger Property Tax Cuts.