With no state income tax, Texas has some of the highest property tax rates in the country, making them a burden for many homeowners. Fortunately, there is an option to protest your assessed value, which can help to lower your property taxes.
You can complete the appeal process on your own or you can appoint a consultant licensed by the state to represent you. Most consultants will file the protest, prepare evidence, and attend any hearings on your behalf.
If you’re looking to save time and potentially achieve a greater reduction in assessed value, it is likely worth it to hire a property tax protest company. Read on for more information.
Reasons to Hire a Property Tax Protest Company
First, we’ll review what property tax protest companies offer to help you decide if hiring one is worthwhile.
Saves You Time
The property tax appeal process involves a few key steps that require time:
- Filing a Notice of Protest form
- Collecting evidence and information for your hearing
- Attending your hearing
Some homeowners may not mind completing this process, especially if the time spent could result in a significant reduction.
A key benefit of a property tax protest company is that they can handle the entire process for you, from collecting evidence for your case to attending your hearing on your behalf. For homeowners who don’t want to spend the time filing, hiring a firm may be worthwhile.
Expertise
A reputable property tax company will have considerable experience with residential tax appeals and knows what information works best to support your appeal. They should also have a thorough understanding of appraisal methods and how they impact your assessed value. All of this information is key in winning your appeal. You will need to do your own research and gather information if you choose to file on your own.
Property tax consultants will also know what tax exemptions you qualify for, which can help you save even more.
Only Pay If They Achieve a Reduction
Most property tax protest companies will only charge a fee if they achieve a reduction. That means there is little risk for you if you hire a firm to handle your appeal.
Note, look for a firm that offers contingency-based fees. You should not have to pay an upfront fee, and you should only pay a fee if they achieve a reduction for you.
Annual Review of Your Property
The property tax appeal process, procedures, and legislation can change year to year, so it is in your best interest to file annually. Some property tax protest companies will review your property annually to file an appeal. You may prefer to work with a company that handles the appeal for you, rather than having to file each year.
Will a Property Tax Protest Company Save Me More Money?
It’s difficult to say if a property tax protest company will save you more money than if you were to appeal on your own. A reputable firm will have data regarding their reductions readily available to you.
That being said, the average reduction for North Texas Property Tax Services (NTPTS) has consistently been higher than homeowners’ average value reductions.
Average Reduction by NTPTS vs. Homeowner in Dallas-Fort Worth
| Year | NTPTS Average Reduction | Homeowner Average Reduction |
|---|---|---|
| 2021 | $62,620 | $28,324 |
| 2020 | $62,573 | $27,235 |
| 2019 | $61,363 | $26,313 |
Remember, filing an appeal gives you a better chance to lower your property taxes than not filing at all. But a property tax protest company may be able to save you more money if they have experienced professionals who understand the appeal process and the real estate market in your area.
NTPTS consultants have a combined 81 years of experience in property tax appeals, and a thorough understanding of the Dallas-Fort Worth real estate market. These are just a couple of reasons why we have been successful in achieving the largest reductions for our clients.
Lower Your Property Taxes with NTPTS
Your property taxes can be a significant expense, especially if you are a Texas resident. Hiring a reputable property tax protest company is worth it, as it can save you time and money.
Whether you hire NTPTS or file your tax protest on your own, we encourage all Texas homeowners to exercise their right to appeal their assessed value. Find out how NTPTS can help you lower your property taxes.