By now, most of you should have received your Commercial and Business Personal Property Value Notices. Most often, Notices of Appraised Value are sent only when your appraised value increases by $1,000 or more above the prior year’s value, or if a Rendition is filed.
With the month of May zooming by, the time to act is short. The statutory deadline to appeal your appraised value in Texas, is May 31st, or 30 days after the Notice was mailed, whichever date is later.
Our firm files a protest for all of our client’s properties each year. Filing does a couple of important things. First, it ensures the right to a hearing later in the summer – which allows us more time to analyze and prepare a thorough case on their behalf. If we do not have a case, we simply withdraw our appeal prior to the scheduled hearing before the Appraisal Review Board.
Second, even if a property’s value did not increase from the prior year, it does not mean it was correctly valued in the first place. Fact is, if it was over-valued last year, and shows no increase, or only a minimal increase, this year, it may be over-valued.
As mentioned before, the appraisal district is not required to send a Notice of Appraised Value if the value did not increase from the prior year, in most cases. However, a property owner has the right to protest their appraised value by May 31st, regardless of whether the value increased or not. Please note: your protest form must be postmarked by the deadline to be considered timely.
If you have questions or concerns about your commercial and/or business personal property Value Notices, please contact us.