CHANGES TO THE 2022 NOTICE OF APPRAISED VALUE AND NOTICE OF PROTEST

During the 2021 Legislative Sessions, there were numerous changes to the law referencing information required for the Notice of Appraised Value and the Notice of Protest.

NOTICE OF APPRAISED VALUE – ESTIMATE OF TAXES

The first change is that an estimate of taxes is no longer required on the notice.  The following statement has replaced the estimate of taxes.  Beginning August 7th, visit Texas.gov/PropertyTaxes to find a link to your local property tax database where you can easily access information regarding your property taxes, including information regarding the amount of taxes that each entity that taxes your property will impose if the entity adopts its proposed tax rate. Your local property tax database will be updated regularly during August and September as local elected officials propose and adopt the property tax rates that will determine how much you pay in property taxes.  For Brazos County, the local database is located at brazos.countytaxrates.com.

NOTICE OF APPRAISED VALUE – HOMESTEAD EXEMPTION AND HOMESTEAD CAP

Per the Texas Property Tax Code, all properties in the State of Texas are to be valued at their market value as of January 1 of each year.  A residential property that is considered to be the property owner’s primary residence could be eligible for a Homestead Exemption from a portion of the school tax.  This amount, currently at $25,000 in value, will be voted on in May and could potentially change from a $25,000 exemption to a $40,000 exemption.  Once a property has been established as a residential homestead for exemption purposes, its value, as long as the homestead exemption is in place, will only be taxed on 10% above the previous year’s taxable value.  Please keep in mind, the Market Value will continue to increase or decrease annually based on the market adjustment arrived by analyzing current sales information, but the taxable (assessed) value can only increase by 10% on the homesteaded portion of your property per year, plus any new value associated with the residence homestead.

**A residence homestead is protected from future assessed value increases in excess of 10% per year from the date of the last assessed value plus the value of any new improvements. (The limitation takes effect to a residence homestead on January 1 of the tax year following the first year the owner qualifies the property for the residential homestead exemption. [Sec. 23.23(c) Texas Property Tax Code])

With the increase in property values in Brazos County and statewide, it is vital for all property owners to assure they have completed a Residential Homestead Exemption Application form on their primary residence.

NOTICE OF PROTEST

The Property Appraisal – Notice of Protest – 2022 also has had some changes.  In Section 3, there is now a checkbox for both Incorrect Appraised (market) value and/or Value is Unequal compared with other properties.  In the past, there was a separate box for each.   Section 5 allows for a request for an informal meeting as well as options for various hearing types.  Sections 6 and 7 allow for various means of receiving Hearing Notices and Procedures as well as Final Order of Determination from the Appraisal Review Board.

Please feel free to contact our office at 979-774-4100 or email info@brazoscad.org for additional information.

Thank you,

Dana Horton, RPA

Chief Appraiser