Property Tax Protests & Foreclosure Sales

There has been a decline in foreclosure sales in North Texas and this will most likely continue through 2012.  Filings are down about 26% for January 2012 in the DFW Metroplex from one year ago.  This is the biggest decline in more than 2 years.

So how do foreclosure sales effect market value and a property tax protest?

Per the Texas Property Tax Code the appraisal must meet 100% of market value.  If the majority are foreclosure sales, one would use these in arriving at market value of the subject property.  Appraisal districts typically do not want to use foreclosure sales but the code does state that they must be considered.  This is vague and open to interpretation.  In my opinion for a property tax protest, one should use foreclosure sales when it meets the requirements covered prior.

Sincerely,

Wade Carlson
Senior Property Tax Consultant

DFW Property Tax Reductions
P.O. Box 794006
Dallas, Texas 75379
972-591-4747 Fax: 972-591-4748
 www.DFWPTR.com
http://Twitter.com/DFWPTR