Many cases you assessed property value is higher which causes you taxes to be higher. Once the deadline to protest passes you cannot go back. Sometimes your assessed property value may not be accurate as a result of your commercial property has never been individually appraised.
At McDonnell Richardson CPA, PC, we stay up with how and when to protest. The appraiser’s proposed value is based off a mass appraisal and does not have the manpower or time available to appraise each property accurately. Assessed values are sensitive to economy growth and decline. When the economy grows, your local appraisal district increases values but when the economy declines it is reluctant to reduce your valuation.
Every property is different so if you expect to reduce your property tax burden you will need custom analysis of your home, comprehensive analysis of your neighborhood, analysis of comparable properties to your home, and a strategy when meeting with the central appraisal district.