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Old 07-12-2011, 06:35 PM
 
54 posts, read 271,833 times
Reputation: 80

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I live in Hedwig Village (Memorial Villages) on a ½ acre+ lot. The neighborhood has been redeveloping over the past 10 years with the older ranch homes being torn down and replaced with 5k-7k sf homes worth 1.5-3 million. My house is one of three remaining original homes on my street. The other two are classified as Economic Mis-Improvement with ridiculously low appraisals on the improvements… (All the land values are still outrageous… $30 per sq ft).
I had my hearing with the appraisal review board this week, and I tried to get my property re-classified to Economic Mis-Improvement (EM). The ARB reduced my appraisal by 20K (1.5%) based on pictures of flaws with my house. I had expectations of a much larger reduction.
My neighbor (whose house is EM) did a major remodel in 2008, but somehow HCAD was never notified. I had pictures comparing his kitchen and my kitchen, and they are basically the same. New cabinets, Granite, Stainless appliances, tile, etc.
There is no doubt my house will be bulldozed when I sell it. By all definitions, it should be classified as EM, but the partial remodel is preventing HCAD from making the change.
Before I commit to Binding Arbitration, I have a question:
Is anyone aware of a property in Harris County that had a partial remodel (that HCAD knows about), and was re-classified to Economic Mis-improvement?
Any advice would be greatly appreciated.
Please direct me to any links or organizations that might help me in my fight.
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Old 07-15-2011, 08:38 AM
 
54 posts, read 271,833 times
Reputation: 80
Default Bump

Bump
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Old 03-07-2013, 06:43 PM
 
54 posts, read 271,833 times
Reputation: 80
New Update.

In 2012 I protested my taxes (again). I spent countless hours researching comps (wife has a license and access to HAR). After I was comfortable that I had a bullet-proof case, I presented my case before the Appraisal Review Board. The board effectively sided with HCAD and offered a reduction in appraised value of $20,000. The board consisted of 3 elderly ladies that clung on every word the HCAD appraiser spoke. (They had no clue of real estate issues)

What most people don't understand…. even though the Appraisal Review Board is not selected by the HCAD. HCAD pays their paychecks!!!! So you BETTER believe the HCAD have some influence in the ARB. Not only that, but the HCAD decides when the members on the ARB work.

I decided to go the next step and file for binding arbitration. I was required to pony-up $250 to pay the arbitrator. I was also required to submit a dollar value of what I believed the property was worth.
The value I proposed was $170K less than what HCAD was asking.
I delivered my protest material to the arbitrator about a week before the scheduled hearing.

The arbitration meeting was held in a neutral site with an HCAD representative (who was very unprepared).
The arbitrator reduced the valuation by $120k. Because the arbitrator’s value was closer to my value, I also got my $250 arbitration fee back!!

If you believe your property is over-valued, I recommend that you protest until you get satisfaction.
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Old 03-07-2013, 06:47 PM
 
Location: Charleston Sc and Western NC
9,273 posts, read 26,489,277 times
Reputation: 4741
I had to chuckled when they said the board was comprised of a panel of "my peers..."
I've been protesting since the early 90s... My peers have devolved since then to real estate agents paid by HCAD, none of which are Anglo.

I pay people to protest for me now.
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Old 03-07-2013, 07:14 PM
 
54 posts, read 271,833 times
Reputation: 80
I tried that route. I got a mailer from one of the largest Tax protest firms several years ago offering a $75 gift certificate for any Pappas restaurant if they could not reduce my taxes.
The comps they listed in the mailer were old and had increased by 30%.

Bottom line: We had a nice meal.

Also: READ THE FINE PRINT.
Some of the firms want half the savings EVERY YEAR after they protest.
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