How does the appraisal district come up with the value of your home?
That’s a fair question, and a question asked and answered on their website.
Q: How does the appraisal district determine the value of a home?
A: The appraisal district compares a home to similar homes that have sold recently and determines the value accordingly.
Royce Cameron and Daryl Vernon both have homes in a Calallen subdivision. They say this isn’t the case
Vernon consulted a realtor, and says the prices were, "in the range of about $430,000 and 500,000".. He goes on to say that the Appraisal District has his home values at. "like 694,000, up from my last years appraisal which was about $485,000…. So overall a 200k increase."
Cameron is equally beside himself. His house went from 668k to 1.4 million.
"I don’t understand. How does it double in 2 yrs. or 1 year? Based on the sales around here, its not there. The money is not there. It’s ridiculous," said Cameron.
Another criteria is date. your home is appraised by what it looks like January 1st.
Q: My house was not finished on January 1, how do you appraise it?
A: The improvement is added to the tax roll at the percent of completion as of January 1.
One home we saw was nothing more than a foundation and rough framing in January. It was valued at $551,000.
"There is no rhyme nor reason to it," said Cameron.
Deadline to dispute the appraisal value is Tuesday, May 15th. You do need to provide proof.