Tax Code Section 25.19 requires the chief appraiser to send the notice of appraised value by May 1 or April 1 for residence homesteads, or as soon thereafter as possible. Appraisal Notices are not a tax bill, they are notice statement that allows the property owner to review the proposed value of their property for a given year. If a property owner disagrees with this value, the property owner has until May 31 or 30 days from the date the notice was mailed (whichever is later) to file a protest with the appraisal review board (ARB).
Notices of Appraised Value are sent to property owners only if:
The property value has increased greater than $1,000
The value of a property is higher than the value the property owner gave on a rendition
The property was not on the appraisal district's records in the previous year
The ownership of the property has changed
HOW IS YOUR PROPERTY APPRAISED:
The appraisal district is required to appraise property at market value as of January 1 each year according to Tax Code Section 23.01. The appraisers have applied generally accepted mass appraisal methods and techniques based upon the individual characteristics that affect the market value of your property. The method used for calculating land values is the Sales Approach. This method includes the careful analysis of sales that have taken place within the area that your property is located. These sales prices are then averaged in order to gain a median price per acre. This median price per acre is then applied to all properties within that area. The Sales Approach is also used for the valuation of improvements (structures permanently attached to the property). Adjustments may also occur due to appraiser field checks and aerial appraisals that are conducted by the appraisal district.
Below is an Example of a Notice of Appraised Value
Click the numbers below for an explanation of the referenced item
The current year total proposed appraised value: the current year proposed appraised value before value reductions such as exemptions.
Notice of Appraised Value Items:
The property identification number for a particular parcel that the notice was generated for
The name and mailing address of the property owner for this parcel, please ensure that both items are printed correctly
The proposed value for improvements (structures) that are attached to the property
The market value of land not under agricultural special valuation
The market value of land if agricultural or wildlife management special valuation is applied.
The market value of personal property or minerals
Total market value is the land and improvement values combined
The appraised value of the land that agricultural use or wildlife management has been applied on
The appraised value: the property value after special valuations and exemptions have been applied. Improvement+Market Non-Ag+Productivity Ag=Appraised Value
A homestead cap is a benefit of a homestead exemption and limits the increase in a property's assessed value.
Indicates the applied exemptions that will affect the total market value of the property
The previous year total appraised value: the value of the property with the applied value reductions such as exemptions and/or special valuations.
Taxing units adopt tax rates for their operations and debt payments, click here for taxing units
The current year exemption value: total amount of exemptions granted on property for the current year.
The current year total taxable value: the total current year value minus value reductions such as exemptions. This value is the value to which tax rates are multiplied
Appraisal Notices are no longer required to provide estimate of taxes. Any tax questions should be directed toward the entities. An estimate of taxes will be mailed out in the form of postcards in August.
The deadline for filing a notice of protest, the protest form is located on the back of the appraisal notice
The date for which hearings have been scheduled to begin.