how to protest your property tax assessment

Kenn Renner,Real Estate Broker/Investor/Author

Books by Kenn Renner

HGTV’s House Hunters

www.BuyAustin.com| Kenn Renner | 512-423-5626 | Kenn@BuyAustin.com

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Protesting Your Property TaxesTwo most important dates

Jan 1st – Effective date for taxes

May 31st – Deadline for protest (certified mail)

Protesting Your Property TaxesTake a photo of your house on a bad day around Jan 1st

When you get the comp list from the county, take photos of them on a great day

Protesting Your Property TaxesProtest Form – File on Both:Market ValueEquityClosing Price - ? Only if higher than assessment

Protesting Your Property TaxesComparable – The tax year + 2-3 months

Typically won’t use foreclosures or new build sales comps

We provide comps or use a service

Informal HearingBe preparedBe niceBe firmDon’t speak firstAvoid the board

Homestead Exemption15% off value for school taxes

20% off county taxes10% cap of value

Over 65 Tax ExemptionFreezes taxable value on school only

Can be moved from property to property

Occupancy is requiredEither spouse is OK

Forbes List - America's Fastest Growing City 1. Austin, Texas MSA: Austin-Round Rock, TX 2015 Population growth rate: 3.15% 2016 pop. growth rate: 2.56% Job growth rate: 3.28% Unemployment: 3.34% Median pay: $66,000

www.BuyAustin.com| Kenn Renner | 512-423-5626 | Kenn@BuyAustin.com

Forbes Best Places to Invest 7. Austin, Texas MSA: Austin-Round Rock, TX Pop.: 1,943,299 Avg. Home Price (Q3 ’14-Q3 ’15): $284,355 Pop. Growth (’11-’14): 9.0% Jobs growth (annual): 3.3% Unemployment (Sept. ’15): 3.3% Annual price growth: 12% Over (+) or under (-) priced by: 13% Three-year home price growth forecast: 27% Average Home Price: $281,355

www.BuyAustin.com| Kenn Renner | 512-423-5626 | Kenn@BuyAustin.com

Lunch with and Economist Austin is the fourth best economy in the

US 32,000 to 33,000 new jobs created Austin has #2 job growth Very stable economy - steady growth Seller's market, not a stupid market

Price homes 95% to 100% of median, otherwise will sit

If a home is on market more than 45 days, it is overpriced

Texas property is the most undervalued hard asset in the world

We are not in a bubble We are where California was in the

1950s

Appreciation 3-5% Under $250k - 25-35% over the next 3

years. Luxury market - buyer's market Five major US corporations looking at

Austin for a headquarters 10,000 companies have moved from

California to Austin in the past 7 years

Austin Summary – ABOR stats 29000 + home sales in 2016 Up 6.1% over 2015 making for a record year Median price up 7.2% 2.4 months of supply – sellers market! 5856 Active listings - skewed by builder

inventory 4486 active “Resale” listings Shortage will continue for the “NEAR”

forseeable future

www.BuyAustin.com| Kenn Renner | 512-423-5626 | Kenn@BuyAustin.com

Dow Jones Average Past 20 Years

www.BuyAustin.com| Kenn Renner | 512-423-5626 | Kenn@BuyAustin.com

Where are we at in the cycleRecoveryExpansionExuberanceContractionRecession

Dad, How Do I Get Wealthy…

Make more revenue by bringing more value to the marketplace.

Reduce expenses – especially our insatiable UNCLE

Invest the difference – preferably in something you understand.

Simple Wealth Building StrategyAcquire 10 homes in 10 yearsPay them off in 20 years

www.BuyAustin.com| Kenn Renner | 512-423-5626 | Kenn@BuyAustin.com

Disclosure and Disclaimer: Kenn Renner, Renner Realty, Inc are not attorneys, CPAs nor Financial Planners. Please seek the appropriate professionals for legal, tax and financial advise and guidance.

Simple Wealth Building Strategy10 x $200k = $2 million in 20 years$4 million ± $1000/mo positive$12,000 x 12 = $144,000*• Example is in no way a guarantee of a return as all investments have risk and results will vary – do your due diligence and consult with appropriate professionals.

www.BuyAustin.com| Kenn Renner | 512-423-5626 | Kenn@BuyAustin.com

Simple College Tuition PlanBuy one single family homePay off in 15 yearsSell to pay for college

www.BuyAustin.com| Kenn Renner | 512-423-5626 | Kenn@BuyAustin.com

Join me most every Saturday for Real Estate investment presentations at convenient locations around Austin… 512.423.5626 call/textBy Kenn Renner