INSTRUCTIONS
Pay special attention to the I-Settle portion on this page, the Tips we’ve
provided on the 2nd page, specifically Sections 1 & 2, the 3rd page, and the
Additional Resources on the very last page. The additional resources are
the laws and standards that are on your side.
1. File your protest if you have not already done so, and if you’re not past the deadline of May 31, 2013, or if 30 days after your notice of
value, whichever is later. You may file by either sending in only your protest forms that we’ve included in this evidence package to Harris
County Appraisal District at PO Box 920975, Houston, TX 77040. Or you may file using your (8 digit) I-File number located on your
Notice of Value. You will also need your (13 digit) property’s tax id number. If you do not have your I-File number, you may call HCAD at
(713) 957-7800 to obtain information on how you may receive another copy.
2. Be sure to indicate the reason(s) for your protest. We strongly urge you to choose both the “Value is unequal compared with
other properties” and “Value is over market value”.
3. Do not use the I-Settle system designed by Harris County Appraisal District. This is not truly an interactive system. This feature does not
consider additional information added; it simply analyzes the value you input and accepts it, or not. If you choose this option, it serves as
your informal hearing. This means that if the system rejects your offer, or you reject its offer in return, that you will then need to attend your
formal hearing in order to present your evidence – this is your last chance. You will not receive an informal hearing, thus you lose 50% of
your negotiating power.
4. When you attend the informal hearing, bring two copies of your evidence that we’ve provided. You will hand one of the copies over to the
appraiser when you meet with him/her. The other you keep for yourself.
5. Hand to your appraiser your evidence package beginning with your coversheet which is page 5 of this
evidence package.
6. We encourage all users to take part in the informal hearing process. Most owners come to an agreement if their evidence supports their
suggested value through the informal hearing process. Other cases are resolved through the I-Settle program, although the reductions seen
through that system are often much less than reductions received through the Informal or Formal Hearing Process.
7. If you attend your Informal Hearing but do not come to an agreement with the Harris County Appraisal District employee that you meet
with, you may then attend your formal hearing. The formal hearing is done between you, the Appraisal Review Board (ARB) panel, and an
employee of Harris County Appraisal District. The ARB panel consists of three (paid) citizens who are employed to make a final ruling on
your appeal. At this hearing, you will submit both your opinion of value along with supporting evidence, if you have that evidence. Your
presentation should last only 10-20 minutes, however, be prepared to do it in 5 minutes. The more you know and understand your
evidence, the better. The panel will review the evidence and briefly discuss the proposed values at which time a final determination will be
made.
8. Take 5 copies of your evidence package to your Formal Hearing. One for you, one for the appraiser, and one for each member of the ARB
panel.
9. If the final determination is unsatisfactory, you have 60 days to file an appeal with the Harris County District Court, or request arbitration
within 45 days.
Prepared by Jubally Solutions on behalf of
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TIPS
Be sure to read the Additional Resources page at the end of this document.
1. Important!
Know your evidence. We’ll provide the evidence for you, but you’re the one who needs to know what it means, be able to explain it, and
be able to present it. It is crucial to be able to present it. While you should be able to just lay it out for the appraisers, reality is you’ll need
to be able to explain why your home’s value should be lower using the comps we’ve provided.
2. See the page “Understanding The Chart”, and the “Notes for Appraiser” page.
The main sections on the charts to pay attention to are the “Noticed Imp $/Sqft”, “Grade”, “Net Adjustments” and “Adjusted Imp $/Sqft”.
Use common sense here. We make the adjustments when adjustments are needed, and we do this based on the HCAD CAMA Residential
Model. The evidence holds up much better if adjustments aren’t used, though. We are only arguing your Improvement Value, so we
calculate that out and adjust, then add back in your land and extra features, if you have them. When looking at the sales comparison chart,
understand that when an owner contributes money to the sale, that lowers the actual sale price and gives you a realized sales price. If you
sold your home for $200,000, and also gave $5,000 at closing, you’ve actually sold it for $195,000. This is allowed under Sec 7.2 of the
IAAO Standard of Sales Verification from the Texas Comptroller of Public Accounts. Occasionally our system uses foreclosures as
comparable sales. This is allowed per Sec 23.01 (c) (1) of the Texas Property Tax Code. Do not let them tell you differently for either one of
the above items. Presenting your evidence as facts without emotion will help your case. Use common sense. We know you have it, you’ve
used us!
3. When you meet with your HCAD representative for your informal hearing, and/or for the formal hearing, know that they meet with
argumentative people all day long during the protest season. They are no different than you in the fact that they want to get along with
others, and be more than a “judge” to you. Briefly try to engage in some conversation and develop a comfortable relationship. Remember
the old saying “You’ll catch more flies with honey than with vinegar”.
4. When you attend your informal hearing, or your formal hearing, do not make it emotional or personal. Simply state your case, use the
evidence we’ve provided to back up the opinion of value that you’ve stated. You need to provide the basis for them to adjust your value.
They are willing to do so; they just do not want to get into trouble for making an adjustment that isn’t valid. Stick to the facts. Do not talk
about your high taxes and the issues those bring. Speak strictly about your home and how it has been overvalued –if, in fact, it has.
5. Take pictures of your own home, and note what, if anything is wrong with it. If you have structural issues with your home, you need to
document this as it will help your case in lowering the value of your home with the county. Obtain quotes for repairs if you choose, and
bring these with you to your hearing/s. They will help!
Prepared by Jubally Solutions on behalf of
05/17/2013
UNDERSTANDING
THE
CHARTS
Uniform and Equal
If your suggested value is derived from the Uniform and Equal analysis, then you have a Uniform and Equal Chart. The Uniform and Equal
Analysis (Equity Analysis) analyzes similar properties in your neighborhood using the County’s own values. By law, if there are enough
similar properties in your neighborhood that have a lower $/sqft than yours, then your value needs to be brought down to be equalized
across the board according to those comps. We are only arguing Improvement $/sqft, not land or extra features value.
The columns to pay very close attention to on this chart are the Noticed Imp $/Sqft, Year Built, Grade, Living Area, and Adjusted Imp $/Sqft.
Occasionally we have to go outside the subject’s Grade. If we do this, we apply the standard HCAD CAMA model for these adjustments. The
adjustment percentage is located in the “Grade” column, along with the actual adjusted dollars. If we are forced outside your Grade (Grades
are subjective) take a look at the Noticed Imp $/Sqft and see how close this value is to your subject’s value. Please note that if a comp has a
Grade that is of higher quality than yours, make sure the unadjusted Imp $/sqft is not lower than what we have listed for your subject
property. If it is, this is a good thing and an easy argument. We cap Grade adjustments at a maximum of 23% so as to not make unrealistic
adjustments between Grades. We also do this for year built/condition, and living area. The comparable attributes section of the Note to
Appraisers page explains this in further detail.
The main formulas for Uniform and Equal are as follows:
Imp $/sqft = (Market Value – Land Value - Extra Features Value)/ Living Area
Take this value (Imp $/sqft) and adjust based on year built, condition, grade, size, and possibly remodel level. This gives us our adjusted Imp $/sqft. We do
this for all comparable properties and then list them out. We take the median (middle) value of these as our Suggested Imp $/sqft. Using the Suggested
Imp$/sqft, our final suggested value is determined. The formula for this is found below.
Suggested Value = (Suggested Imp $/sqft * Subject’s Living Area) + Subject’s Land Value + Subject’s Extra Features Value.
Comparable Market Analysis
If your suggested value is derived from the Comparable Market Analysis (CMA), then you have a Comparable Market Analysis Chart. The
CMA analyzes similar properties in your neighborhood that have recently sold. We are only arguing market Improvement price for this
method by removing and not arguing what the County has your property and the comparable property’s land and extra features value on for.
Most of the same methods apply for the CMA that applied for the U&E. The difference is that we are taking the actual sold price, and
subtracting the seller contributions from that sales price in order to determine an actual sales price. The same types of adjustments are applied
and are noted in the chart.
The formula for determining the Final Suggested Value is as follows:
Final Suggested Value = (Adjusted Imp $/Sqft * Subject’s Living Area) + Subject’s County Land Value + Subject’s County Extra Features Value
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Page 3
PROPERTY TAX
NOTICE OF PROTEST
Harris County Appraisal District
Information & Assistance Division
P.O. Box 922013
Houston TX 77292-2013
FORM 41.44 (03/13)
HCAD Account Number:
Save a Stamp!
File Online at www.hcad.org/iFile
2013
INSTRUCTIONS: If you want the appraisal review board (ARB) to hear
and decide your case, you must file a written notice of protest with the
ARB for the appraisal district that took the action you want to protest. To
be valid, a notice of protest must identify the owner and the property, and
must indicate the nature of the protest. For this reason, it is important that
the notice of protest form be fully completed. If you are leasing the
property subject to the protest, you must have a contract requiring you to
pay the property taxes.
The deadline for filing your protest is May 31. If you mail the notice,
it must be postmarked on or before this date. If you drop it off in
person or file online, you must do so on or before this date.
You may file this form in person or by mail. If you have internet
access, you can file your protest online. You will need your account
number and the iFile number. Go to www.hcad.org/iFile for
instructions for online protests.
Step 1:
Phone Number
Step 2:
Describe
Property under
Protest
Tax Year:
Telephone (area code and number)
Owner Name
Mailing Address
City
State
Houston
Zip
Tx
This space is reserved for HCAD use only
*NEWPT611*
Mobile Homes: (Give make, model, and identification
number)
Give street address and city if different from above, or legal description if no street address
Failure to check a box may result in your inability to protest an issue. If you check “value is over market value,” you are indicating that the
market value is excessive and your property would not sell for the amount determined by the appraisal district. If you check “value is unequal
as compared to other properties,” you are indicating that your property is not appraised at the same level as a representative sample of
comparable properties, appropriately adjusted for condition, size, location, and other factors. Your property may be appraised at its market
value, but be unequally appraised. An appraisal review board may adjust your value to equalize it with other comparable properties. Please
check all boxes that apply in order to preserve your rights so that the appraisal review board may consider your protest according to law.
Step 3:
Check
Reason(s) for
Protest
X Value is over market value.
X Value is unequal compared with other properties.
Property should not be taxed in
Failure to send required notice
Step 4:
Give facts that
may help resolve
your case
(name of taxing unit)
Change in use of land appraised as ag-use,
open-space, or timber land.
Ag-use, open-space, timber, or other special valuation
denied, modified, cancelled.
Owner's name incorrect.
Exemption denied, modified, or cancelled.
Property description incorrect.
Improvement (structures, etc.)
Land (attach copy of deed)
Property should not be taxed in this appraisal district.
Other
(type)
Continue on additional pages as needed
What do you think your property's value is? (Optional)
Step 5:
ARB Hearing
Procedures
I want the ARB to send me a copy of its hearing procedures.
Step 6:
Sign the
Application
X Signature of Owner
(Sign here)
$
X Yes
No *
*If your protest goes to a hearing, you will automatically receive a copy of the ARB's hearing procedures.
Agent Agent Code # ______________
ADDITIONAL INFORMATION ON BACK
Date:
Harris, Texas
2013
Total Noticed Market Value: $333,638.00
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Page 1
NOTE
FOR
APPRAISERS
This system utilizes the HCAD Residential CAMA Model in full on improvements only. We do not argue land value or extra feature values. We
would like to prevent the need to list out the entire model for HCAD’s sake, but understand that HCAD Appraisers need proof that proper
adjustments are being made. To document this we have decided to show how a comp is adjusted for grade and for age/condition.
Additionally, we show the percentage and dollars adjusted on our charts.
Academic example:
If our subject property has a grade of A- (1.56), and a comp has a grade of B+ (1.41), we adjust the comp upward 15 pts (1.41 to 1.56).
If our subject property is 9 to 10 years old and has a CDU rating of Very Good (.96), and a comp is 7-8 years old and has CDU rating of
Average (.92), then we adjust the comp upward 4 pts (.92 to .96).
We do cap adjustments for Grade at .23 pts in order to try to prevent unrealistic adjustments for A through X+ grades.
Example from this report
Adjustment Type
Grade / Value
Condition / Age / Value
Subject Property
Comparable Property 1
Adjustment Value
C+ / 1.03
C+ / 1.03
x1
Excellent / 52 / 0.65
Good / 54 / 0.55
x 1.1
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Page 2
PROPOSED
VALUE
SUMMARY
$264,969.22
Unequal Summary
Subject Property Details
Subject Address
Tax Id Number
Land Use Code
A1
Neighborhood
Year Built / Remodeled
1961 / 2010
Grade
C+
SqFt
2,136
Total Noticed Market Value
$333,638.00
A uniform and equal analysis of the property located at
, and having a tax ID number of
was performed. The
results suggested the market value of this property is $264,969.22, a difference of
-$68,668.78 from the actual noticed market value of $333,638.00. This value is based
. Any adjustments that
on 10 comparable properties located within neighborhood
were made were calculated in accordance to HCAD's CAMA residential model and are
accounted for in-full within the Uniform & Equal Chart. Section 41.43(b)(3) of the Texas
Property Tax Code - Protest of Determination of Value or Unequality of Appraisal deems our
subject property's market value should be reduced to $264,969.22.
Sales Comparison Summary
$207,934.64
A comparable market analysis centered on the neighborhood of
was performed.
, and
The subject property located at
having the Tax ID number of
is determined to be over valued. The
market price for this property should be $207,934.64, a difference of -$125,703.36
from the noticed market value of $333,638.00. This value is based on 5 recent and
. Any adjustments that were made
comparable sales located within neighborhood
were calculated in accordance to HCAD's CAMA residential model and are accounted for
in-full within the Comparable Market Analysis chart. Section 41.43(a) of the Texas Property
Tax Code - Protest of Determination of Value or Inequality of Appraisal deems our subject
property's market value should be reduced to $207,934.64.
Subject Total Noticed Market Value:
The 2013 market value should be
$333,638.00
$207,934.64
Land Value
$91,800.00
Extra Features Value
$4,968.00
Noticed Improvement Value
$236,870.00
Noticed Improvement $/SqFt
$110.89 / SqFt
Prepared by Jubally Solutions on behalf of
05/17/2013
Page 3
COMPARABLE
ATTRIBUTES
Comparable properties have been located by performing a neighborhood search for properties within the subject’s neighborhood of 7476.00
that must fall within the ranges listed below. All adjustments are made according to the Standard Cost Adjustment model used by Harris
County. If an attribute is not indicated in Harris County’s records, that attribute is not adjusted for. HCAD is the direct source of all property
attributes. A vendor is the source for all sales information.
Grade – Within grade C- and grade B. Our subject’s Grade of C+ property falls within these two grade ranges. Adjustments for
comparable properties are made in accordance to HCAD’s CAMA Residential Model if the comparable property does not have a grade
identical to our subject’s Grade of C+.
Size – Within 1,816 square feet and 2,456 square feet. These numbers are 15% less and 15% more than the subject’s heated square
footage of 2,136. For every 150 feet more a comparable property is than the subject, $1.00 is added to the comparable property’s
improvement price per square foot. For every 150 feet less a comparable property is than the subject, $1.00 is subtracted from the
comparable property’s improvement price per square foot. These adjustments are made due to the fact that smaller buildings typically have a
higher cost per square foot than larger ones of the same grade and condition.
Year Built and Condition – Within year 1954 and year 1968. These years are 7 years older and 7 years newer than the year built
date of our subject property which is 1961. Within each Grade is a set of 8 conditions. EX (Excellent), VG (Very Good), G (Good), AV
(Average), F (Fair), P (Poor), VP (Very Poor), and UN (Unsound). The subject property has a condition of Excellent. Any adjustments made
were calculated using HCAD’s CAMA Residential Model. Adjustments for this reference a property’s age and condition in order to determine
whether to adjust up or down for that particular comparable property in relation to the subject.
Remodel Date – Within year 2003 and year 2017. These years are 7 years older and 7 years newer than the remodel date of our
subject property, which is 2010. Standard Condition Adjustments as indicated above on the “Year Build and Condition” description apply. In
addition, our subject property has a remodel level of Total. Adjustments are made to the comparable properties according to the remodel
level of the subject property in accordance to HCAD’s CAMA Residential Model. There are four remodel levels; New (New Build), TTL (Total),
EXT (Exterior), and PTL (Partial).
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Page 4
UNIFORM
Property
Description
Distance
From Subject
Prop Use Code /
Land Use Code
NA
Neighborhood /
Neighborhood Group
AND
Total Noticed
Market Value
Less: Noticed
Land Value
Less: Extra
Features Value
Noticed
Imp Value
Noticed Imp
$/Sqft
A1 / 1001
$333,638.00
($91,800.00)
($4,968.00)
$236,870.00
0.3mi
A1 / 1001
$195,542.00
($90,600.00)
($4,372.00)
0.2mi
A1 / 1001
$215,000.00
($83,555.00)
0.2mi
A1 / 1001
$232,749.00
0.5mi
A1 / 1001
0.5mi
EQUAL
Year Built / Remodel
% adj / $ adj
Grade
% adj / $ adj
Remodel C & D
% adj / $ adj
$110.89
1961 / 2010
NA / NA
C+
NA / NA
NA / NA
$100,570.00
$46.47
1959 / 2010
1.01 / ($1,005.70)
C+
1 / $0.00
1.3 / ($30,171.00)
($8,940.00)
$122,505.00
$57.19
1965 / 2005
1.07 / ($8,575.35)
C+
1 / $0.00
1.2 / ($24,501.00)
($90,600.00)
($3,444.00)
$138,705.00
$62.31
1959 / 2010
1.03 / ($4,161.15)
C+
1 / $0.00
1.2 / ($27,741.00)
$235,566.00
($69,825.00)
($11,833.00)
$153,908.00
$70.73
1960 / 2011
1 / $0.00
C+
1 / $0.00
1.1 / ($15,390.80)
A1 / 1001
$249,955.00
($96,600.00)
($3,989.00)
$149,366.00
$61.67
1962 / 2008
1.05 / ($7,468.30)
C+
1 / $0.00
1.2 / ($29,873.20)
0.4mi
A1 / 1001
$223,958.00
($76,181.00)
($3,444.00)
$144,333.00
$64.15
1959 / 2009
1.03 / ($4,329.99)
C+
1 / $0.00
1.2 / ($28,866.60)
0.3mi
A1 / 1001
$249,960.00
($94,800.00)
($3,969.00)
$151,191.00
$63.93
1959 / 2010
1.03 / ($4,535.73)
C+
1 / $0.00
1.2 / ($30,238.20)
0.4mi
A1 / 1001
$264,421.00
($119,425.00)
$5,624.00
$150,620.00
$66.44
1957 / 2011
1.01 / ($1,506.20)
C+
1 / $0.00
1.2 / ($30,124.00)
0.4mi
A1 / 1001
$251,106.00
($93,000.00)
($11,487.00)
$146,619.00
$65.51
1965 / 2010
1.03 / ($4,398.57)
C+
1 / $0.00
1.2 / ($29,323.80)
0.5mi
A1 / 1001
$205,487.00
($71,775.00)
($3,444.00)
$130,268.00
$65.93
1959 / 2007
1.05 / ($6,513.40)
C+
1 / $0.00
1.2 / ($26,053.60)
Living
Area
Living
Area $ adj
Net
Adjustment
Adjusted
Market Value
Adjusted
Market Value / sqft
Adjusted
Imp Value
Adjusted
Imp $/sqft
2,136
NA
$0.00
$333,638.00
$156.20
NA
NA
2,164
$0.00
$31,478.41
$227,020.41
$104.91
$132,048.41
$61.02
2,142
$0.00
$34,791.42
$249,791.42
$116.62
$157,296.42
$73.43
2,226
$0.00
$32,734.38
$265,483.38
$119.26
$171,439.38
$77.02
2,176
$0.00
$15,390.80
$250,956.80
$115.33
$169,298.80
$77.80
2,422
$1,211.00
$40,046.16
$290,001.16
$119.74
$189,412.16
$78.20
2,250
$0.00
$34,062.59
$258,020.59
$114.68
$178,395.59
$79.29
2,365
$1,182.50
$36,863.58
$286,823.58
$121.28
$188,054.58
$79.52
2,267
$0.00
$31,931.44
$296,352.44
$130.72
$182,551.44
$80.53
2,238
$0.00
$34,602.08
$285,708.08
$127.66
$181,221.08
$80.97
1,976
($1,976.00)
$31,893.68
$237,380.68
$120.13
$162,161.68
$82.07
Subject property
Median Adjusted Imp Value/sqft
$78.75
Subject Adjusted Imp Market Value
$168,201.22
Median Adjusted Market Value $/sqft
$117.21
Adjusted Improvement Value ( Subject SqFt 2,136 * Median Improvement per SqFt $78.75 = $168,201.22) + Land Value ($91,800.00) + Extra Features ($4,968.00) = Subject Adjusted Market Value
$264,969.22
Any adjustments made were calculated in accordance to HCAD’s CAMA residential model. Please see the Comparable Attributes page for more details. This comparative analysis was prepared under the supervision of a Texas licensed “Property Tax Consultant”.
UNIFORM AND EQUAL
COMPARABLE’S MAP
Subject Property
Comparable Properties
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Page 6
COMPARABLE
Subject Property
Comparable 1
MARKET
Comparable 2
ANALYSIS
Comparable 3
Comparable 4
Comparable 5
Account :
Property Address :
Neighborhood / Neighborhood Group :
Distance From Subject :
NA
0.4mi
0.4mi
0.6mi
0.3mi
0.2mi
State Class / Land Use :
A1 / 1001
A1 / 1001
A1 / 1001
A1 / 1001
A1 / 1001
A1 / 1001
Land Size :
Noticed Land Value :
Living Area :
Year Built / Remodel :
Grade / % adj / $ adj :
Rmdl Level / % adj / $ adj :
CDU/Percent Good / % adj / $ adj :
Extra Features :
9,360 SF
12,415 SF
9,600 SF
12,350 SF
9,120 SF
9,588 SF
($91,800.00)
($91,014.00)
($93,000.00)
($80,063.00)
($90,600.00)
($92,940.00)
2,136
2,010
2,181
2,076
2,164
1,976
1961 / 2010
1966 / 2003
1959 / 2012
1959 / 2005
1959 / 2010
1960 / 2006
C+ / 1 / $0.00
C+
C+ / 1 / $0.00
C+ / 1 / $0.00
C+ / 1 / $0.00
Total
Partial / 1.04 / ($1,395.88)
Extensive / 0.99 / $620.72
Partial / 1.07 / ($6,995.59)
Excellent
Good / 1.2 / ($6,979.40)
Very Good / 1.1 / ($6,207.20)
Average / 1.2 / ($19,987.40)
Good / 1.3 / ($34,508.40)
($4,968.00)
($4,089.00)
($3,928.00)
$0.00
($4,372.00)
($3,617.00)
2012-12-20 00:00:00
2012-01-06 00:00:00
2012-08-09 00:00:00
2012-03-01 00:00:00
2012-06-15 00:00:00
Sale Date :
Sale Source / Confidential :
C+ / 1 / $0.00
Partial / 1.03 / ($4,063.29)
Good / 1.2 / ($27,088.60)
Vendor / Yes
Vendor / Yes
Vendor / Yes
Vendor / Yes
Vendor / Yes
Sales Price / per sqft :
$130,000.00 / $64.68 SqFt
$159,000.00 / $72.90 SqFt
$180,000.00 / $86.71 SqFt
$210,000.00 / $97.04 SqFt
$232,000.00 / $117.41 SqFt
Imp Sales Price / per sqft :
$34,897.00 / $17.36 SqFt
$62,072.00 / $28.46 SqFt
$99,937.00 / $48.14 SqFt
$115,028.00 / $53.16 SqFt
$135,443.00 / $68.54 SqFt
$0.00
$0.00
$0.00
$6,300.00
$6,300.00
Realized Sale Price / per sqft :
$130,000.00 / $64.68 SqFt
$159,000.00 / $72.90 SqFt
$180,000.00 / $86.71 SqFt
$203,700.00 / $94.13 SqFt
$225,700.00 / $114.22 SqFt
Realized Imp Sales Price / per sqft :
$34,897.00 / $17.36 SqFt
$62,072.00 / $28.46 SqFt
$99,937.00 / $48.14 SqFt
$108,728.00 / $50.24 SqFt
$129,143.00 / $65.36 SqFt
($8,654.46)
($5,524.41)
($28,382.11)
($34,031.86)
($28,501.75)
Final Adjusted Sale Price / per sqft :
$138,654.46 / $68.98 SqFt
$164,524.41 / $75.44 SqFt
$208,382.11 / $100.38 SqFt
$237,731.86 / $109.86 SqFt
$254,201.75 / $128.64 SqFt
Final Adjusted Imp Sale Price / per sqft :
$43,551.46 / $21.67 SqFt
$67,596.41 / $30.99 SqFt
$128,319.11 / $61.81 SqFt
$142,759.86 / $65.97 SqFt
$157,644.75 / $79.78 SqFt
Seller Contributions :
Net Adjustment :
/
Subject HCAD Noticed Market Value : $333,638.00
Subject Non Adjusted Value : $171,371.72
Subject Suggested Value : $207,934.64 = Adjusted Improvement Value ( Subject SqFt 2,136 * Average Improvement per SqFt $52.04 = $111,166.64) + Land Value (
$91,800.00) + Extra Features ($4,968.00)
Any adjustments made were calculated in accordance to HCAD’s CAMA residential model. Please see the Comparable Attributes page for more details. Comparable foreclosures are allowed per Sec 23.01(c) (1) of Texas Property Tax Code. (http://www.statutes.legis.state.tx.us/Docs/TX/htm/TX.23.htm) Seller Contributions, when reported, have been deducted to reflect “Realized Sale
Price”. This is allowed per Sec 7.2 of the IAAO Standard of Sales Verification from the Texas Comptroller of Public Accounts. (http://www.window.state.tx.us/taxinfo/proptax/pdf/iaao.pdf) THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS AND SHOULD NOT BE CONSIDERED AN APPRAISAL.
COMPARABLE MARKET ANALYSIS
COMPARABLE’S MAP
Subject Property
Comparable Properties
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05/17/2013
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ADDITIONAL
RESOURCES
These are laws or standards that the appraisal district must follow. We are arming you for your battle, and we want to give you the best
weapons possible. These will show why we can deduct seller contributions from a sales price, why we can use foreclosures or distressed sales
from your neighborhood, and that the property tax code dictates Equity Analysis reports and Comparable Market Analysis reports are
required by law to be used to lower the market value of your home if you have enough properly adjusted comps.
What law allows me to use foreclosures in my Comparable Market Analysis (CMA)?
Foreclosures and any other sale are allowed under Sec 23.01(c) (1) of the Texas Property Tax Code.
http://www.statutes.legis.state.tx.us/Docs/TX/htm/TX.23.htm
Sec. 23.01. APPRAISALS GENERALLY. (a) Except as otherwise provided by this chapter, all taxable property is appraised at its market value
as of January 1.
(b) The market value of property shall be determined by the application of generally accepted appraisal methods and techniques. If the appraisal district
determines the appraised value of a property using mass appraisal standards, the mass appraisal standards must comply with the Uniform Standards of
Professional Appraisal Practice. The same or similar appraisal methods and techniques shall be used in appraising the same or similar kinds of property.
However, each property shall be appraised based upon the individual characteristics that affect the property’s market value, and all available evidence that
is specific to the value of the property shall be taken into account in determining the property’s market value.
(c) Notwithstanding Section 1.04(7)(C), in determining the market value of a residence homestead, the chief appraiser may not exclude from consideration
the value of other residential property that is in the same neighborhood as the residence homestead being appraised and would otherwise be considered in
appraising the residence homestead because the other residential property:
(1) was sold at a foreclosure sale conducted in any of the three years preceding the tax year in which the residence homestead is being appraised and was
comparable at the time of sale based on relevant characteristics with other residence homesteads in the same neighborhood; or
What legitimizes the removal of seller contributions from the sales comparables?
Section 7.2 of the International Association of Assessing Officers (IAAO) Standard on Sales Verification allows for certain conditions to be
accounted for in order calculate out the realized sales price of a property. http://www.window.state.tx.us/taxinfo/proptax/pdf/iaao.pdf
Section 7
Sales should be adjusted to represent only the value of the real property as of the assessment date prior to model calibration and ratio studies.
Adjustments to the sale price may be considered if any of the following exist:
Assumed long-term leases (nonmarket rates) (7.1)
Buyer’s closing costs (seller paid) (7.2)
Delinquent taxes (paid by buyer) (7.3)
Financing (nonmarket rates) (7.4)
Personal property (paid by buyer) (7.5)
Real estate commissions (7.6)
Repair allowances (7.7)
What laws indicate that HCAD has to lower my value if I have supporting evidence?
By law, Uniform and Equal (U&E) can be used according to Section 41.43 of the Texas Property Tax Code.
http://www.statutes.legis.state.tx.us/Docs/TX/htm/TX.41.htm
Protest of Determination of Value or Inequality of Appraisal (b) A protest on the ground of unequal appraisal of property shall be determined
in favor of the protesting party unless the appraisal district establishes that: (3) the appraised value of the property is equal to or less than the
median appraised value of a reasonable number of comparable properties appropriately adjusted.
By law, Comparable Market Analysis (CMA) can be used according to Section 41.43 of the Texas Property Tax Code.
http://www.statutes.legis.state.tx.us/Docs/TX/htm/TX.41.htm
Protest of Determination of Value or Inequality of Appraisal (a) Except as provided by Subsections (a–1) and (d), in a protest authorized by
Section 41.41(a)(1) or (2), the appraisal district has the burden of establishing the value of the property by a preponderance of the evidence
presented at the hearing. If the appraisal district fails to meet that standard, the protest shall be determined in favor of the property owner.
Prepared by Jubally Solutions on behalf of
05/17/2013
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