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 | [email protected]

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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


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


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


Dow Jones Average Past 20 Years


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


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.


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


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

how to protest your property tax assessment

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