Seeing a higher property tax notice this year? Before you panic, here’s what may be happening. Your market value, net appraised value, and taxable value are three different numbers. The county’s market value doesn’t have a cap, but if you have a homestead exemption, the cap usually applies to your net appraised value, not the market value. Then your taxable value is what’s left after exemptions are applied. So even if the real estate market feels cooler, your taxable value can still rise over time. That’s why we always recommend looking over your notice carefully and protesting when appropriate.
Not sure what your notice means? Reach out and we’ll help you make sense of it.
