“I thought you couldn’t get value/appraisal raised the year after you had the value/appraisal lowered.”
Property values are reset every two years, using sales from the 2 years prior to the reset. I’ve had taxes go up and down over the years. Because of the 2-year lag, your taxes can go down as your property value is rising, or your taxes can go up as your property is losing value.
Good luck getting that system changed. The spiff you get for paying those taxes is a tax-free sale of your principal residence. I’ve used that to my advantage multiple times by converting rentals and/or second homes to principal residences, avoiding taxation on hundreds of thousands of dollars in property value raises.
Many thanks for the info; I was referring to the Texas law about the effect on the next year of a successful lowering of a property appraisal value one year.
Where is this ‘property values reset every two years’ done; is it done in certain areas of Texas?