Potter Randall Appraisal District gives notice of appraised values to property owners

AMARILLO, Texas (KAMR/KCIT) — The Potter Randall Appraisal District sent notices of appraised values on April 15.

According to PRAD Chief Appraiser Jeffrey Dagley, the notices reflect the proposed market value of the owner’s property in 2024.

“The value that we’ve given to the property is reflective of the market conditions, and the value is as of January 1 of 2024,” said Dagley. “That’s an indication of what the market value is or what that property would sell for on the open market if it was exposed on the market.”

If an owner disagrees with the appraisal value they can protest it. Protests must be submitted by May 15 and can be done online. There is no cost to file a protest.

Once a protest form is filed with supporting documents it automatically goes into the PRAD system.

“Once it’s set up in our system, then we will send those property owners a notice of a hearing date,” said Dagley. “We’ll send that at least 15 days before the hearing date and at that time, if we haven’t contacted you say that we’re going to adjust the value for some reason you would need to show up for that day of your hearing. You have an opportunity to protest it before an appraisal review board.”

The appraisal review board is a group of independent citizens that would head the sides PRAD and the property owners. After hearing both sides, the board decides what the final value of the property.

According to Protest PRAD Partner Richard Burk, the property value can be lower depending on several factors.

“If you have things are not updated, our outdated paneling on the wall, got cracks in your foundation, or you have an air conditioner that needs to be repaired, what you can do is identify the cost of doing all of those things and say, if I sold my house, I would have to fix all of these things,” said Burk. So that would justify a tax reduction.”

Burk says when an appraisal is done the value of surrounding properties is considered, as well as the overall value of the neighborhood.

“Sometimes when you do a mass appraisal, your house is not exactly like all the other houses around it,” explained Burk. “That’s why you need to review it and that’s why you need to challenge it if it’s too high, because we only need to pay the minimum amount of tax that’s due.”

If the property value is not adjusted properly, Burk shared, it can have long-term tax implications.

“If the county appraiser places your value above where it’s supposed to be, then you have a right to keep it reduced,” explained Burk. “That error compounds itself because whatever your house has appraised at this year, based on how much the market went up in the other sales and stuff in the marketplace, then you sort of carry that error along with you into the future, and it has a cumulative effect.”

The property value can also be impacted by exemptions including a homestead exemption. Homestead exemptions can be filed if the property is the primary residence.

“It’s important for people to be sure to file their homestead exemptions if they live in the house because that will help lower your taxes,” said Burk.

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