Filed under: Real Estate | Tags: Austin, Austin real estate, homes, Real Estate, Real Estate taxes, Vikki Goodwin
Tax appraisals have just been released for 2009. While the average home price in Austin has decreased slightly, the appraised values have increased in many cases. How can the appraisal district justify increasing home values this year? Unfortunately, they can make that determination, and then it’s up to the individual homeowner to protest if the value seems unreasonable. I imagine the appraisal district will see a rise in the number of protests this year.
I have decided to protest my tax appraisal this year for the first time. I’ve helped a neighbor with his protest for a few years now, and he says the sales data I’ve provided him has helped him keep the appraised value closer to market value. In order to protest your appraisal, you have to send in the 2009 Notice of Appraised Value form you received with the back side filled out and signed by May 31st. Step 4 asks you to give facts that may help resolve your case. For my protest, I’ve attached relevant sales data along with a statement about why I think the value is different than what the appraisal district has indicated. While you can get sales data from various websites, that data is not reliable. Texas is a non-disclosure state when it comes to home sale prices, so only the MLS will provide 100% accurate data. If you think the appraised value of your home is above market value, contact your real estate agent for data to back that up, or contact me.
The latest figures for the Austin metroplex show that home sales are still down from a year ago (1,421 sales in March ’09, 1,829 sales in March ’08; down 22%), but that available listings are up slightly (9,704 in March ’09, 9,638 in March ’08). This March, homes have stayed on the market an average of 88 days, as compared to 73 last March. The average sales price this March was $230,893, while it was $239,777 last March. These averages give a big picture of the market, but when it comes to an individual home, setting a price requires looking at many factors and not just the averages. For example, newer or updated homes on larger lots are desirable and in shorter supply, so they can be priced higher than average and still sell in a shorter period of time.
Vikki Goodwin
REALTOR®, GRI, SRS
EcoBroker®
Homes ATX
512-426-9090 cell
www.vikkigoodwin.com
