(C) El Paso Matters.org This story was originally published by El Paso Matters.org and is unaltered. . . . . . . . . . . How to protest your El Paso property valuation [1] ['Elida S. Perez', 'More Elida S. Perez', 'El Paso Matters', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width'] Date: 2024-05-06 It is déjà vu for El Paso homeowners who, for the fourth year in a row, have seen their home valuations increase after a mass reappraisal by the El Paso Central Appraisal District. The CAD again this year conducted a countywide mass reappraisal – setting valuations on market values of similar properties in certain subdivisions or neighborhoods rather than the individual home or business. This year, preliminary values show a 16% increase in overall property values and 12% spike in residential properties. If those valuations are not protested by the homeowner and lowered by the appraisal district, it could impact how much a property owner pays in local taxes. The increases could also impact renters since most landlords pass on tax increases in the rent. “We looked at everything on a mass basis and most of the increases are based on the market,” said Dinah Kilgore, CAD’s chief appraiser. “We don’t know the individual characteristics, so please file your protests if you have an issue with your property because we don’t know specifics.” Related: 3 elected to El Paso Central Appraisal District after running unopposed Homeowners have until May 15 or 30 days from the date they received their appraisal to file a protest – whichever is later. Here are answers to commonly asked questions about your appraisal: How is my property valuation set? The El Paso Central Appraisal District conducts mass appraisals using a market approach, which compares your property to similar properties in a grouping of homes or to those that have recently sold in your neighborhood. So as home prices increase, so do property valuations. That’s because the Texas property tax code requires all taxable property to be valued at 100% of market value each January. A valuation during a mass appraisal does not include individual characteristics of each home. How do I protest my valuation? You must file a written notice within 30 days of the date on your appraisal notice or by May 15, whichever is later. Protest forms are provided in your mailed appraisal letter. Printed forms can be dropped off at the CAD office or mailed to 5801 Trowbridge Dr. 79925, faxed to (915) 780-2130, or emailed to admin@epcad.org. The CAD’s electronic protest portal has been unavailable while the district conducts updates mandated by the legislature and officials said they’re unsure when it’ll be operational again. What do I need to protest my valuation? First, make sure the information on your property is accurate, such as the size and recent improvements, if any. If it is not, bring documentations showing the correct information. Take printed photographs of any problems with the home. CAD officials will not accept photos that are on a personal cell phone and do not have the capacity to accept video evidence. Photos can also be placed on a thumb drive, or submitted online. Include estimates of what it would cost to fix the problems. From the El Paso Matters archives: 9 things you should do if you plan to protest your property tax valuation You can also provide a comparable market analysis done by a real estate professional, and a property appraisal. Check that all homestead exemptions that apply to you are in place. You can also request the evidence that the CAD used when appraising your property. Who reviews my protest? If you choose an informal appraisal, a CAD appraiser will go over the evidence and make a determination whether to adjust the value of your home. If you choose a formal appraisal, the CAD’s Appraisal Review Board will determine the outcome. The formal appointments can be held in person, by phone or online. The board is made up of 45 members appointed by an administrative judge. Starting in 2025, state law will require the central appraisal board to appoint review board members. What if I’m dissatisfied with the Appraisal Review Board’s decision? There are two ways you can appeal an unsatisfactory ruling: file a request for binding arbitration with the appraisal district within 60 days. The process requires a deposit based on the review board’s determination of the value and property type, but the deposit is refundable. A state comptroller request form must be submitted along with the deposit. Lawsuits can also be filed with the district court. It is recommended that a lawyer be consulted before. The petition for review with the district court must be filed within 45 days of receiving the written decision. How does my appraisal impact my property taxes? Your home value will determine how much you pay in taxes. The appraisal district does not set tax rates or collect taxes. Local taxing entities such as the city, the county, school districts, community college and the hospital district collect property taxes. The taxing entities adopt their budgets and tax rates annually based, in part, by certified property values, adding up to the total tax bill property owners receive in January. Under state law, taxing entities have to lower their rates in the face of rising property valuations or declare that they are increasing taxes above what is known as the “no-new-revenue” rate. As a result, these local governments play the largest role in determining how much is collected in property taxes. [END] --- [1] Url: https://elpasomatters.org/2024/05/06/el-paso-central-appraisal-district-how-to-protest-property-valuation/ Published and (C) by El Paso Matters.org Content appears here under this condition or license: Creative Commons CC BY-ND 4.0 International. via Magical.Fish Gopher News Feeds: gopher://magical.fish/1/feeds/news/elpasomatters/