Tax Questions (10)
FBCAD only appraises property. The local governing bodies (MUDs, School Districts, etc.) determine the tax rate.
There are provisions for valuing agriculture/timber land at production value, exemptions for homeowners, persons over 65 years of age, exemptions for disabled veterans, etc. If you value notice fails to indicate any exemptions or special valuation to which you feel entitled, please contact the appraisal district immediately.
The primary purpose of the notice is to inform you of the value place on your property, so you can determine if you wish to protest.
Section 23.01 of the Texas Property Code states that “all taxable property is appraised at its market values as of January 1”.
Section 1.04 of the Texas Property Code defines market value as follows: ‘the price in which a property would transfer for cash or its equivalent under prevailing market conditions if: (A) exposed for sale in the open market with a reasonable time for the seller to find a purchaser: (B) both the seller and the purchaser know of all the uses and purposes to which the property is adapted and for which it is capable of being used and the enforceable restrictions on its use; and (C) both the seller and the purchaser seek to maximize their gains and neither is in a position to take advantage of the exigencies of the other”.
After determining the taxing unit’s total budgetary needs, its elected governing body decides what actual tax rate it must levy to generate the amount of revenue needed.For example, the total assessed value of a jurisdiction is $10 million and $100,000 is needed for its budget. To fund the budget, its governing body must set a tax rate $1 per $100 valuation ($10 million multiplied by $1 / $100 valuation equals $100,000).
- An Informal Conference with an appraiser, if an agreement is not reached, then;
- File a written protest for a hearing before the Appraisal Review Board (ARB). You will be notified of your hearing date and time after your protest is filed. You are not required to be represented by an attorney.
Evidence must be presented to the ARB in the following manner:
- In person; or
- By an authorized agent; or
- By affidavit (a notarized sworn statement)
Note: At the conclusion of the hearing the ARB will issue an order determining value and inform you of post ARB appeal.
No. In fact, your local government encourages you to appeal if you sincerely question your assessment. Our taxing jurisdictions would like for all tax payers to be satisfied within the legal limits set by the state, and at the same time for everyone to be on a fair share basis. In the great majority of cases when an appraiser finds the taxpayer right, an adjustment is made immediately. The appraiser would like for each property owner to be satisfied. However, the appraiser has a duty to all taxpayers to be fair.
The ARB is an independent panel of citizens responsible for hearing property protest.
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