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Old 03-27-2013, 08:07 AM
 
2,756 posts, read 3,807,332 times
Reputation: 4433

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HCAD_ANIMALS - take it easy on the coffee or you may explode.
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Old 03-27-2013, 08:22 AM
 
Location: Breckenridge
2,367 posts, read 4,695,017 times
Reputation: 1650
HCAD_ANIMAL that was quite a diatribe!

--Mikey
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Old 03-27-2013, 08:37 AM
 
12 posts, read 83,132 times
Reputation: 32
HCAD Animal, you said it brother. Seriously would lol if it all weren't so true and sad. All I'm looking for is some equity vis a vis (french) my neighbors. Done a bunch more research re comps and thing I have a solid case. Not that the tribunal of my peers will necessarily consider it. Will definitely keep this group posted as things progress in the event it helps others here on the site. I will pay to take this to arbitration if need by. Out of sheer principle ... principles that transcend houses or appraisals ...

Just wanting to pay my "fair share" as BHO puts it.
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Old 03-27-2013, 09:08 AM
 
14 posts, read 43,142 times
Reputation: 30
Aw hey now thanks brothers. Texas Demon, you are right. I slammed a 5 hour energy before i wrote that post. got to work hard from 6 am until noon since I work half of every day for the GD government. You know, once them taxes cross the 50% threshold, you start getting into a communist situation of a pecuniary nature.

Y'all hang in there. Gonna be a wild ride. Democracy is about numbers. We are a dying breed. Many say the United States died on November 4, 2008. I don't know what to make of that. I surely don't.

Stay safe.
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Old 03-28-2013, 06:06 AM
 
54 posts, read 271,882 times
Reputation: 80
IHateHCAD:
I have a situation almost identical to yours. In 2001 bought a ranch house on a large lot in Memorial (Hedwig Village). The house was in terrible shape so I spent about $80K renovating the house to make it livable. The Appraised value when I bought was about $290K. I got permits to perform the renovations which set off all kinds of bell and whistles in the HCAD office. For the next 10 years my market value rose between 5-30% per year. Finally the appraised value caught up with the market value. I protested twice.
Houses in memorial are difficult to compare because there are no other properties with identical floor plans, lot size. Of course HCAD selects the most expensive sorta-like properties for their appraisal even though the comps may be in areas that are nothing like your immediate hood.
In Memorial you will be MURDERED on your land value, and you can't really argue that part of the appraisal. (I think there is gold in my dirt, but I have not found it yet.)
If the majority of older homes in your hood are being bulldozed and rebuilt with 7000 sift monster homes, you should fight to get your house classified as economic miss-development. Your improvements would be valued from $100-$5000. I have been unsuccessful in reclassifying my house because of the remodeling I completed 12 years ago. HCAD would not budge even though they admitted that if my house sold it would probably be rebuilt. (All but 1 other home on my street has been replaced with 6000-7000sft homes valued at 1.5-2 million dollars).
Getting back to the protest process.
If you protest HCAD will offer you a tiny discount without going to Appraisal board.
The Appraisal board is a joke. HCAD likes to advertise that the Appraisal board is has 3 members that are impartial and independent. BS!! HCAD pays their salaries and therefore selects who is board member.
The first time I went to the board I got a group that had real estate backgrounds and listened to my arguments. I think I got the value reduced by about $60K, and then they raised it back the year after.
The second time I went before the board there were 3 elderly ladies (70+?) that had no clue about real estate and clung to every word the appraiser said. I think they reduced the value by $20K which was negligible considering the appraised value was around 800K.
Year before last I decided to give it my best shot because that year my wife turned 65, so my taxes would be locked in. I went to the board with a mountain of pictures and comps to prove my case for Economic miss-improvement. The board again hung on every word the appraiser said and would not take my argument seriously.
I decided to go the next step and go to Binding arbitration. In binding arbitration you have the right to submit the arbitrator you want to hear the case. You put up $250 and if the arbitrator’s value is closer to your amount, you get your money back. I did not know any arbitrators, so I let HCAD select the person, and I agreed.
The person that HCAD sent to the Arbitration was not prepared and tried to bully her point (like they do in the Appraisal Board meetings). I came overly prepared (I have realtor access to HAR).
Two days after the meeting the arbitrator sent an e-mail with her appraisal. It was $100k less that HCAD so I got my $250 arbitration fee back.
I was happy with the outcome. It was fair.
I just got my 2013 appraisal and the market value was raised $120K. The over-65 exemption will save me.
When you fight HCAD you need to do your homework. Be prepared to spend A LOT of time researching, visiting comps, taking pictures, etc.
And it is very important that you know the rules that HCAD uses in their appraisal process. In the board meetings, the HCAD appraiser will take great pride in confusing you with appraisal buzzwords and abbreviations. Something like: "That comp is a D9 on a R12 improvement"

Good Luck. And it is never ending battle.
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Old 03-28-2013, 06:53 AM
 
Location: TX
2,016 posts, read 3,521,850 times
Reputation: 2176
Quote:
Originally Posted by HCAD_ANIMALS View Post
1.5 Purchase price isn't public information. The amount of debt you put on the property is. Only way the animals down at HCAD find out is if you are a dumb enough SOB to fill out that form.
You are wrong about this. HCAD knows your purchase price without you telling them. I threw away their survey they mailed to me after buying my home. Twice. They sent someone to my house to knock on my door. This person had written down the exact amount I paid for my house, down to the dollar. I did not finance 100% of the sales price, I financed 80%. Even though sales supposedly aren't public information, HCAD knows! I'm sure they have someone who has access to sales info.
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Old 03-28-2013, 07:03 AM
 
Location: Charleston Sc and Western NC
9,273 posts, read 26,491,966 times
Reputation: 4741
I'm still pending, and I kow that's never a good thing. Being in Memorial, I'm just waiting for it...

HCAD?.."panel of my peers?" Hah. They were fair over a decade ago, now it's insane. Last time I went myself, I took picutures of some of the original bathrooms. Because one had a new mirror and light fixture, they argued for 10 minutes that is was remodeled....with 1960s tile, floors, plumbing and electrical. I tell you its hard to find vintage electrical and plumbing these days... :/

I just have a company argue for me now.
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Old 03-28-2013, 07:20 AM
 
Location: Woodfield
2,086 posts, read 4,131,224 times
Reputation: 2319
Yeah, I'm pending too but if they ding me for purchase price I'll be within 10% of the comps on my street so it could be worse. What I don't get is how the 4000 sq ft tear down a few houses down is only about 15% higher when the pruchase price was 60% above norm for the street.
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Old 03-28-2013, 07:34 AM
 
Location: Charleston Sc and Western NC
9,273 posts, read 26,491,966 times
Reputation: 4741
It takes over five years to get the new construction close to what they are actually worth, yet at least 20% under.The argument and questioning of why my house is the same price per sq. foot as a house built in 2007 fell on deaf ears back in 2010. The panel's reactions and refusal to address the issue led that year to be the last year I protested myself. They literally refused to discuse and explain. My health and time are worth more than that bs.
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Old 03-28-2013, 07:34 AM
fnh
 
2,888 posts, read 3,911,900 times
Reputation: 4220
Quote:
Originally Posted by EasilyAmused View Post
I'm still pending, and I kow that's never a good thing. Being in Memorial, I'm just waiting for it...

HCAD?.."panel of my peers?" Hah. They were fair over a decade ago, now it's insane. Last time I went myself, I took picutures of some of the original bathrooms. Because one had a new mirror and light fixture, they argued for 10 minutes that is was remodeled....with 1960s tile, floors, plumbing and electrical. I tell you its hard to find vintage electrical and plumbing these days... :/

I just have a company argue for me now.
You can't have it both ways. I can point to numerous posts where you write about how nuts the bubble has become in that area. HCAD can see what homes are selling for, can read these public posts themselves. You can't point out on one hand that hovels are worth north of half a million dollars while with the other shake your fist that HCAD is overvaluing your property.
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