Oct 9, 2013 5:57 PM by Andrew Ellison - email@example.com
CORPUS CHRISTI - Good news for anyone who successfully appealed their home appraisal value this year.
A new law passed by the state legislature requires appraisal districts to provide more proof when trying to raise the value of a home that was successfully appealed the previous year.
The language in the tax code was changed. If you successfully appeal your home appraisal value with the district, they now have to have "clear and convincing" evidence to raise your value the following year.
In other words, you won't have to fight the same battle over and over.
What other homes in your area are selling for is primarily how the appraisal district determines what your house is worth.
But with the new law change, they would have to justify changes with a lot more data than just a couple houses.
"We can't base not let's say a subdivision, don't base it on ten sales, let's base it on 15 to 25," Chief Appraiser Ronnie Canales says.
All of it is information that the district would have to present to the Appraisal Review Board as they determine whether the district or the homeowner is right.
Bottom line is this is a good break for homeowners and appeals have sky-rocketed in the last few years.
In 2011, there were 341 review hearings and 270 successes.
In 2012, there were 455 hearings and 288 successes.
In 2013, there were 1,251 hearings and 901 successes.
The district says that's because they increased overall value quite a bit this year. They say the economy has gotten much better and sales are up.
If you're wondering if it's worth it for you to challenge your value, on average, those who successfully appealed this past year got 16 percent knocked off their appraised value.