Grayson Central Appraisal District’s property value notices that are required to be sent to property owners under Texas Property Tax Code 25.19 will be mailed on or about May 1. Taxpayers will have 30 days from the date of the notice to file a protest if they have any concerns or issues. Anyone not receiving a notice must file a protest by a new deadline for 2018, May 15. Properties that increased less than $1,000 or went down in value are not sent notices.
GCAD’s Chief Appraiser, Shawn Coker, urges property owners that have issues to visit with an appraiser during its informal phase before formal protest hearings start.
“We provide an informal time where property owners can come in and share information that we may not be aware of that could potentially affect the market value of a property,” Coker said, “Reliable evidence for us could be in the form of photos, estimates for extraordinary repairs, settlement statements/closing documents from a recent purchase, as well as other types of documentation. It is much easier for us and a property owner to sit down and visit without having to go through a formal process of a protest hearing.”
GCAD typically has a 2 percent to 4 percent protest ratio of the total accounts they are charged with appraising, with a smaller percentage of that actually going before the Appraisal Review Board for a formal hearing.
“A large portion of the protests comes from tax agents or attorneys representing property owners,” Coker said. “Unless there are complex situations, I would encourage any property owner concerned about their value or exemptions to come in a visit with us themselves. We are here to follow the tax code, but we are also here to serve the public and provide understanding where we can.”
Coker said that the number of sales, price of sales and the total dollar volume of the sales exceeds the previous years. He attributes this to various economic reasons such as historically low interest rates, low unemployment and low housing inventory.
“The average for a residence in Grayson has gone from about $172,000 in 2016 to $191,000 in 2017, an approximate 11 percent increase. This is not across the board, but it is an indication that Grayson is thriving like some of the other Texas areas. It is as simple as supply and demand. There were over 2,000 residential sales in 2017, and it hasn’t slowed down in early 2018,” Coker said.
Coker reminds homeowners that CADs are required to have properties appraised at market value as of January 1st per Tax Code Section 23, however, those with a residential homestead have limitations of 10 percent increase in the appraised (or taxable) amount. Essentially, your taxable value may not be as much as your market value if it exceeded a 10 percent increase from the prior year unless there where major improvements or new additions made to your house or homesite.
GCAD will hold informal meetings, by appointment only, for property owners starting May 1 and extending through May 19. The meeting times will be Mondays, Wednesdays, Thursdays and Fridays from 8:15 a.m.-4 p.m. and Tuesdays from 8:30a.m.-6 p.m.