For those in Steiner Ranch who haven't filed the paperwork to protest the property tax appraisal, there is still time. Most (if not all) Steiner Ranch residents received their appraisals later than normal so the deadline to file is June 10 (please check the date on your notification to know for sure). You will need to file for a formal and informal at the same time.
Since learning of the methodology change, I have had the opportunity to discuss the situation with folks who work for tax protest companies as well as someone who trains the members of the Appraisal Review Board. I'm told that the members of the ARB don't buy into the regression analysis that is being used in Steiner. As a reminder, Steiner is the only place in Travis County that this is being used. In fact, if the information I have is correct, it is the first time in Texas that this type of methodology is being used. For some basic background on what is going on, please read my two blog entries from May 13 and May 16. For more information on the methodology used, view this blog entry from June 1.
In years past, I have always recommended that people try to work things out with the appraiser during the informal hearing and avoid the formal hearing in front of the ARB. However, this year I am recommending the opposite. From what I've been told by Will Wiggins, he believes that 96% of the appraisals are correct and that there will be few successful protests at the informal hearings. Therefore, take it to the next step and go in for the formal hearing. You should bring along the 3 to 5 comps to present to the ARB because they have been trained to utilize those for the hearings (each year the members of the ARB go through training and this year it dealt only with the 3 to 5 comp method, not the mass appraisal being used for Steiner). As such, several property tax consultants who go in front of the ARB all the time tell me they expect to see Steiner residents get better treatment there than the informals with the appraisers.
When selecting your 3 to 5 comps, do not pick the lowest priced ones because they'll see right through that. Pick the best comparisons to your home so you can defend your selections as the right ones.
I've had several inquiries asking if I can represent people when protesting. I am not a property tax consultant so I do not offer this service. I simply have an interest in homeowners having a property tax appraisals that are as close to market value as possible. I don't see that happening right now so I just try to make folks aware of what they can do if they are overvalued.
