Why a Shifting Real Estate Market is the Perfect Time to Challenge Your Property Tax Assessment

Why a Shifting Real Estate Market is the Perfect Time to Challenge Your Property Tax Assessment

As a local real estate agent, I am asked every Spring whether it is worth protesting property
taxes, especially this year after following 2 years of soaring home prices. Last year, many
Southlake residents had major sticker shock when opening their annual property tax appraisal
notices. In fact, since 2020 the average Southlake home sales price has risen an astonishing
53%. For those who follow the real estate market, many of you may have noticed towards the
end of last Summer through this current Winter, interest rates rose and a shifting market
emerged. Data points now show that this past Fall and Winter, the median sales price in
Southlake dipped to 27% below the median sales price at the height of the Spring market in

So what does this mean for your home’s tax assessed value this year and is it worth fighting
Tarrant County this Spring? In my professional opinion, yes it is worth protesting! Homeowner’s
may finally have some strong ammunition when providing comparable sales over the last 6
months to provide strong evidence for an adjusted valuation, which in turn may reduce their
annual property tax bills.

This is especially true for anyone who purchased their home in the last 2 years or does not have
a homestead exemption in place on their property. For those who haven’t protested property
taxes before, the process in Southlake is relatively straightforward and can be done online or in
person. Detailed instructions on how to protest will be located on your TAD valuation notice and
must be done by May 15th.

Lastly, something I impress on all my clients is that everyone should make it their best practice
to protest their valuation every single year. You have nothing to lose. It does not affect your
home’s market value if you decide to sell in the future.More importantly, many homeowners find
success in obtaining a lower valuation. It’s important to keep in mind that even if the adjustment
is minor, year over year this minor lower valuation resets your “starting point” for the next year.
Curious if you are paying too much in property taxes? Reach out to me directly and my team will
get started on creating a complimentary neighborhood activity report for you:


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Whether you’re buying or selling, we’d love to help you!