Reasons Why You’re Overpaying Your Property Tax

With the property tax costs continually rising each year, it’s no surprise that most homeowners don’t think before they pay that lump sum in February. However, as Dallas property tax consultants, we’re here to say that overpaying can happen; you just have to know the signs.

If you’re dreading that next property tax payment, here are some signs that you’re overpaying and what you can do to remedy the situation.

Mistakes On Your Assessing Card

Yes, even your local government makes mistakes on your property’s assessment. However, unless you catch the errors and make moves to get them fixed, there likely won’t be an admission any time soon.

Before your property assessment becomes a tax bill, make sure all of the information is correct. Double-check your assessing card with regard to:

  • Your home’s square footage
  • The recorded number of bedrooms and bathrooms
  • The condition of the house when last assessed

If you find there are, in fact, discrepancies, there’s no telling how long you’ve been overpaying your tax bill. Fortunately, working with your local assessor will be able to clear up some of these expensive oversights.

Researching Surrounding Properties

Do you feel like you’re paying more money for property taxes than a similar house in your vicinity? You very well could be, but won’t be able to be certain until you truly know your property’s worth in comparison to related properties.

If you think your property is overvalued, research similar real estate tax information and find out what their assessments look like. Then meet with your property tax consultant to review the results and find out what negotiation tactics can be put in place to prevent you from overpaying on your taxes in the future.

You’ve Failed to Protest Your Property Tax

One of the most effective ways to save money on tax bills is to protest them! However, not only do you have to be diligently prepared for a protest, but you must also meet your county’s protest deadline.

You could honestly be leaving thousands on the table through this mistake alone. Talk with your property tax advisor and make sure you protest by the deadline.

Also, ask your counsel to represent you during a hearing because there will be several tax codes, property comparables, and appraisal instances involved. The last thing you want is to be swept up in the jargon and left scratching your head and still paying that high bill.

Your Tax Bill Takes Some Massive Leaps Up

This last tip is an easy one. If you’ve noticed a significant jump in the price of your taxes, don’t be afraid to ask questions. Your property tax advisor will be able to help you determine if the price hike was valid or not. The worst that can happen is simply being wrong, so why put your potential savings at risk?

Take Control of Your Potential Savings With The Hegwood Group

At The Hegwood Group, we love to see our clients find savings within their property tax bills and assessments. In the past, we’ve successfully helped several entities navigate their tax questions, and are ready to help you! Find out why we are one of Dallas’ most trusted property tax advisors. Contact us today to schedule your free consultation.


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