I am trying to figure out how the county comes up with the figure they do when appraising houses. My house has increased around 9% from last year. However there is a house right down that is for sale and the appraisal value has increased only about 1%. Can someone please explain this to me. Thanks
I think it’s changed in recent years so don’t place too much emphasis on this response. :oops:
The county appraisal districts (CAD’s) send out notices requesting sales price/appraisal information when title changes, at least in Travis and Williamson counties. Since TX is a non-disclosure state, this info may be weighted pretty heavily, I don’t know.
I’ve suspected the CAD’s may have found a way to access MLS because the last two years during tax protest hearings, they’ve had a ton more sales comps and info than ever before.
Anyway, back to your questions. Are the two houses exactly the same:
beds and baths
There are a huge number of variables that could affect value. Typically, the CAD’s just gather sales info and determine a certain number of variables to include in their valuation and lump geographic areas together. It’s not at all difficult to get the assessed value reduced.
Sorry, for the generic info, but it’s a very broad question.