Keys to Protesting Your Property Tax Valuation

by Taressa Dominguez, TSSA Director of Education & Marketing

It’s that time of year again. Valuation notices have been mailed and the protest process is beginning.  TSSA worked recently with Taylor Vaughan, CMI of Delta Property Tax Advisors to bring you the “Battling Property Taxes: Understanding Your Valuation & How to Protest” webinar. He shared his comprehensive overview of the valuation and protest processes.  Here are some key takeaways:

• Appraisal districts overwhelmingly apply the mass appraisal approach of income for valuation.

• The mass appraisal approach can fail to take into account your property’s specific characteristics. That is why it is important to compare your own valuation of your property with the appraisal district’s valuation.

• You don’t have to just pick one protest type—pick all that apply to your property valuation. You can always withdraw one protest type without having to withdraw your entire protest. There is no penalty for protesting your taxes.

• Property taxes cannot be deducted as an operating expense. However, you should “load” the cap rate into the equation to address this expense.

• Protesting your property valuation is a powerful tool at your disposal. Establishing a fair property valuation can be very impactful, especially for future valuations for years to come.

• The hearing process is an insightful path to see how the appraisal district looks at your property. Becoming familiar with your district’s appraiser and the valuation methodologies they employ will better prepare you to forecast future valuations and protest the current one.

For further detail on this topic, you can find Taylor Vaughn’s featured article, A Guide to Understanding and Managing Property Tax Protest, in the May/June 2020 issue of Self-Storage News, and the webinar presentation in TSSA’s Resource Library. 

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