It’s that time again! All homeowners should have received one of these in the mail this week. Before you throw it out, take a close look.
First, please keep in mind that although the word “appraisal” is all over the notice, this is not an actual appraisal. This is just the county’s estimated tax value for your home, which is the amount the home is taxed on. It’s not an accurate indicator of value.
Take a look at the three lines I’ve highlighted.
1) Appraised Value: This is the county’s estimated value for your home. Usually this value is less than your house is actually worth. If so, you’re in a good position; the lower your appraised value is, the lower your property taxes are. If their estimated value is significantly higher than the actual value of your home, you may be able to contest it. If you are considering contesting, let me know, and I’ll send you sales information on the homes in our neighborhood that have sold recently. You can include that with your protest. Instructions on protesting are at the bottom of the tax notice.
2) Exemptions: These are your tax exemptions which reduce your taxable amount. If this is your primary residence, you should have the homestead exemption, which will show as “HS.” If you are disabled, you should see “DV” or “DP,” And if you’re over 65, you should see OV65. If you qualify for an exemption and it’s not listed, you need to have it added. Call the tax office at (254)939-5841 or go to www.bellcad.org for instructions on how to apply for exemptions. DO THIS! It’s easy, free, only takes a few minutes and can save you hundreds or thousands of dollars per year.
3) Total Estimated Tax: Unless you protest your taxes, this will be your yearly tax amount for 2017.
Let me know if you have any questions!
– Teresa Adams, Broker/Owner, Heights Discount Realty
