HidalgoCountyHomeownersWhoDon’tProtestWill LikelyPayExtra$279InPropertyTaxes
Hidalgo County property tax assessments suggest that two-thirds of homes have been overvalued by the Hidalgo County Appraisal District. The typical home in Hidalgo County has been valuedfor2023at107.4%ofmarketvalue,basedonastudyof524homesalesduringJanuary 2022 to March 2023. The median time-adjusted sales price is $200,000 versus the median assessedvaluesetbyHidalgoCountyAppraisalDistrictof$210,346.
Owners who do not protest will pay an extra $279 in property taxes based upon analysis by O’Connor Most Texas appraisal districts have over-shot 100% of market value in valuing houses. Home prices soared 11% during January 2022 to September 2022, but then fell 15% through January 2023. Hidalgo median home sale prices rose from $210,730 in January to $234,250inSeptemberbeforefallingbackto$200,000inJanuary2023.
ThePropertyTaxProtection Program ispoweredbyO’Connor& Associates
Enteryourinformationbelowtoenrollin thePropertyTaxProtectionProgram andhaveyourpropertytaxesprotested.
2025Protest:Appliestothe majorityofTexasproperty ownerswhose2024valuenotice fromthecountyisdatedmore than30daysagoandthedateis pastMay15,2024.
2024Protest:Appliesto selectTexaspropertyowners wherethe2024valuenoticeis datedLESSthan30daysago.
Call713.290.9700todiscusswitha representative. PleasemonitoryourE-mailandspam filter.Ifyoudon'treceiveyourenrollment documentswithin24businesshours, call713.290.97008am-5pmCST
ENROLLNOW!
Byclickingenroll,youconsenttous filingaprotestonyourbehalfand agreetoourterms Freeonlineenrollmentin3minutes.No costunlesstaxesarereduced, guaranteed
Texas Tax Code is clear that the effective date for property tax assessments is January 1 (23.01). many appraisal districts hav used sales price data from thr earratherthantheJanuary2023effectivedate.
HidalgoCountypropertytaxassessmentgeneratedbytheHidalgoCountyAppraisalDistrictfor homes rose 21.9%. Contrast this to the 5% decline in median home prices calculated by O’Connor for the 524 sales during January 2022 to March 2023. The gap between the increase in assessments by Hidalgo County Appraisal District and the median time adjusted sales price is26.5%(21.9%increaseinassessment+5%declineinmediansalesprice).
ApproachtoTaxation
GrowthThroughTaxRegulations
(1)TimeadjustedsalepriceasofJanuary2023 (2)Extrataxesbasedon2.7%taxrateandbeforehomesteadexemptionandtaxratecompression,
Hidalgo County homes assessments increased between just over 20% to just over 32%, dependingonthevalueofthehouse,withhomesinthe$1Mto$1.5Mrangeseeingthegreatest increase.
LargerHidalgoCountyresidentialpropertyincreasedinassessedvaluethemost.Propertyover 8,000sq.ft.increasedintaxablevaluebyover31%.
HidalgoCountyincreasedassessmentsthemostforolderhomesbuiltpriorto1960,withvalues escalatingby26%.
CommercialpropertyassessmentsinHidalgoCountyhavesurgedthemostforpropertybuiltin 2001andlater
evaluating Hidalgo
ofpropertyover$5Mareseeingthemostalarmingincreasesinassessment,upashighas48% for2023.
InHidalgoCountynewerapartmentsbuiltin2001andmorerecentlyhaveanastounding62.7% increaseinassessedvalue.
The greatest increase in assessed value by year built for office property in Hidalgo County is 14.6%upfortherange1961to1980,followedbya10.4%jumpforofficesconstructed2001and after
When analyzing commercial retail property in Hidalgo County, the steepest climb in assessed valueisfortherangeofpropertybuiltin2001andlater,up19.2%for2023.
The reverse holds true for warehouse property in Hidalgo County, with older warehouses built priorto1960takingthesteepestclimbinassessedvalueatalmost52%.
OfficebuildingsinHidalgoCountyhaveincreasedinassessedvalueby10%
Assessed values for Hidalgo County apartments have increased astronomically across all subtypes,withvaluesgoingupbetween55.4to72.2%.
WarehousepropertyassessmentsinHidalgoCountyareupover36%forminiwarehouse owners.
Whether you are a residential or commercial property owner in Hidalgo County or in other countiesacrossthestateofTexas,youdonothavetoacceptthenewappraisalvalue,itisyour right to appeal. Don’t pay more than your fair share. Record levels of property tax protest are expectedtofollow.ThedeadlinetofileapropertytaxprotestisMay15th.
AboutO’Connor:
O’Connor is among the largest property tax consulting firms in the United States, providing residentialpropertytaxreductionservicesinTexas,Illinois,andGeorgia,aswellascommercial property tax reduction services across the United States. O’Connor’s team of professionals possess the resources and market expertise in the areas of property tax, cost segregation, commercial and residential real estate appraisals. The firm was founded in 1974 and employs morethan600professionalsworldwide.O’Connor’scorefocusisenrichingthelivesofproperty ownersthroughcosteffectivetaxreduction.
Property owners interested in assistance appealing their assessment can enroll in O’Connor’s Property Tax Protection Program ™ There is no upfront fee, or any fee unless we reduce your propertytaxes,andeasyonlineenrollmentonlytakes2to3minutes.
ShareNow
By:PatrickO'Connor|Postedon04/27/2023with0comments
