Resolve Your 2017 Proposed Market Value
DID YOU KNOW…
…that you may be able to resolve the 2017 proposed market value of your property without having to attend a hearing? The “Discuss Your Value” option on TAD.org allows you to enter an opinion of market value for your property:
Your opinion of market value may be accepted or countered (though in some rare cases TAD may not be able to make you an offer online). If your market value is accepted, or if you accept the counter offer, your market value will be set to the agreed amount and you’re all done!
If your value is not accepted, or no counter offer is made, you do not need to do anything further – your protest is already on file with the Appraisal Review Board. You will be notified of your hearing date and time at least 15 days before the hearing. Please note that the “File a Protest” option only allows you to file a protest. Although you can enter an opinion of value, the system will not make a value offer.
For more information, please contact the Tarrant Appraisal District at (817) 284-3925.
Hot real estate market reflected in 2017 sales prices
According to recent sales data, Tarrant County continues to be one of the hottest real estate markets in the country, and Tarrant Appraisal District (TAD) officials are preparing local home owners for strong property valuations in 2017.
New residents continue to flood into North Texas seeking jobs and the Texas lifestyle, which means homes are in high demand. When evaluating residential markets, the usual home inventory is about six months, according to the Texas A&M Real Estate Center. However, inventory levels in Tarrant County currently stand at less than two months.
Because of the high demand and the limited inventory, many property owners will see higher assessed values this year. Notices will be mailed on April 1 to residential property owners. Commercial property owners will receive their valuation notices soon thereafter. Property owners may choose to protest their assessment. Instructions to file a protest are included in the appraisal notices and can be found at www.tad.org.
Property owners with residential homesteads will be protected from increases higher than 10 percent. Because of the appraisal cap limitation, appraised value used to determine homesteaded property taxes are limited to 10 percent appreciation.
Property appraisals are determined by TAD and used by local taxing units to calculate taxes, which pay for police and fire protection, public schools and hospitals, road and street maintenance, courts, water and sewer systems and other public services.
TAD Scores for Public Education
The Texas State Comptroller’s Office released the preliminary findings of its’ 2016 Property Value Study (PVS) on January 31, 2017, and all 21 Tarrant County school districts were found to be within the comptroller’s estimate of market value.
“We were informed by the Property Tax Assistance Division of the comptroller’s office that TAD’s 2016 property market values were valid,” said Jeff Law, Chief Appraiser of Tarrant Appraisal District. “As a result, these values will result in each school district receiving full state funding for public education.”
Texas funds public education through state and local funds. Local funding comes from property taxes. The study conducted by the Comptroller is used by the Commissioner of Education to equalize the distribution of education funds provided by the State. This gives school districts about the same number of dollars to spend per student, regardless of the district’s property wealth.
The Comptroller’s Property Tax Assistance Division conducts a study every two years to estimate a school district’s total taxable value, and to determine whether those values meet appropriate levels of accuracy.
The secondary purpose of the Property Value Study is to measure appraisal district performance by determining the accuracy and uniformity of property tax appraisals. These measures indicate whether appraisal districts have appraised properties at 100 percent market value – the legally required level.
“TAD is very pleased with the findings of the 2016 PVS,” said Randy Armstrong, Director of Residential at TAD. “This is very good news for our area schools and for TAD.”
Taxpayer ALERT regarding applications for Homestead Exemptions
The Tarrant Appraisal District is regularly contacted by homeowners who have unnecessarily paid money to solicitors who, for a fee, offer to file homestead exemption forms in Tarrant County.
We have found that the homeowners are being misled by letters or door to door solicitation from individuals or businesses that offer to help them apply for exemptions by signing an agreement giving these individuals or businesses half the recovered money. The individual or businesses also require the homeowner to sign a form stating they are requesting to have their mailing address changed to the solicitor’s business address insuring they receive half the property owners refund if one is due. Homeowners that change their mailing address will no longer receive tax statements, Notice of Appraised Value or any other correspondence mailed from the Tarrant Appraisal District, the Appraisal Review Board or the Tarrant County Tax Assessor Collectors office.
The Tarrant Appraisal District annually mails out applications for homestead exemptions in early January and there is no fee for filing an application.
If you have any questions, you may contact the Tarrant Appraisal District-Exemptions Division at (817) 284-4063, Monday – Friday from 8:00 a.m. until 5:00 p.m.
Public Data Workshop Held on First Tuesday of the Month at 2:00 pm
TAD holds its Data Workshops on the first Tuesday of the month at 2:00 PM - his workshop is free and open to the public. TAD requests that anyone who desires to attend please RSVP by email to the Webmaster@tad.org indicating the number of people in their group so that we may provide the best accommodations possible.
Held at the TAD offices located at 2500 Handley-Ederville Rd, Fort Worth, 76118 – attendees are encouraged to bring their own laptops and / or other mobile computing devices so that we may provide hands-on instruction and assistance. TAD is dedicated to providing our customers in the public and private sectors the most accurate, user-friendly, legally-permissible data possible.