TAX PROTEST ON NEWLY BOUGHT HOME

[O'Neil Mbakwe]

Hello,

I recently bought my first investment property in Austin,TX. I bought the home for more than it appraised for in the CAD due to neighborhood comps. I recently received a notice to protest the appraised value of the home and was wondering if I should protest the value of the home if it’s lower than my purchase price. Thanks!

Value: 210K

Purchase: 240K

[Ned Carey]

@O'Neil Mbakwe

You are confusing the tax 'Assessment" with the word "Appraisal". I suspect that is what @Alecia Bolton is referring too.

In my area and I suspect yours, there are companies that specialize in tax assessment appeals. They charge a percentage of the savings. I would look to see if you have companies like this in your area and ask them what they think.