Establishing Value - Frequently Asked Questions
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1. How often does the Dallas Central Appraisal District value my property?
The appraisal district must repeat the appraisal process for each property in the county at least once every three years. However, it can be reappraised as often as every year if the market is active in that area.
2. Why did my value change?
When an area is selected for reappraisal, value changes may occur for several reasons:
- The correction of the database, such as a change in square footage, a pool not previously accounted for or a correction of property characteristics.
- a value may be changed for equalization purposes.
- sales information may indicate the current appraised value is lower/higher than fair market value.
3. Why are you inspecting my property?
In order to make accurate appraisals on every property in our jurisdiction, we have to visit them periodically to ensure that the data used in making the appraisal is still correct. For instance, since we last visited your home:
- the condition of the structure could have changed;
- the appraisal district could have received a copy of a building permit indicating that a room was being added, the house was being remodeled, or some amenity such as a pool or detached garage was being added to or removed from the property.
4. What is an improvement?
- a building, structure, fixture, or fence erected on or affixed to land; or
- a transportable structure that is designed to be occupied for residential or business purposes, whether or not it is affixed to land, if the owner of the structure owns the land on which it is located, unless the structure is unoccupied and held for sale or normally is located at a particular place only temporarily.
5. What is the low income housing cap rate for the current year?
The low income housing cap rate is 10.0% for 2011.
6. What is a homestead cap value?
Effective January 1, 2008, the Texas Property Tax Code, Section 23.23, states that a residential homestead is limited to a 10% increase. Rules:
- Limitations take affect one year after you receive your Homestead Exemption.
- Limitations do not apply to new improvements added in that year (i.e., additions, pools, garages).
- Limitations are removed when a property sells.
- Limitations will be shown on the Notice as "Capped Value".
- All granted exemptions are subtracted from the Capped Value instead of the Market Value.
- Capped Value minus applicable exemptions equals Taxable Value.
- The Capped Value is not a lifetime limitation.
7. What is fair market value?
Fair market value means the price at which a property would transfer for cash or its equivalent under prevailing market conditions if:
- exposed for sale in the open market with a reasonable time for the seller to find a purchaser;
- both the seller and the purchaser know of all the uses and purposes to which the property is adapted and for which it is capable of being used and of the enforceable restrictions on its use; and
- both the seller and purchaser seek to maximize their gains and neither is in a position to take advantage of the exigencies of the other.
8. How did the Dallas Central Appraisal District arrive at my value?
Utilizing comparable sales, income and/or cost data, a DCAD appraiser applied generally accepted appraisal techniques to derive a value for your property.
9. What is a rendition for Real Property?
A rendition is a statement listing taxable property and the name and address of the owner. The statement should also contain an owner's estimate of the property's value. The deadline for filing a rendition is April 15. Be sure to identify your property and attach any documentation that you may have such as closing statements, appraisals or sales of similar properties in your neighborhood.
10. Why did I not receive a Notice of Appraised Value this year?
The Appraisal District is only required to send an appraisal if you rendered your property, if the value increased or if there was an ownership change. Assuming your property did not meet these criteria, then you would not have been mailed an appraisal notice; however, you can still file a written or online protest (uFile) for the current tax year. All protests must be post marked and/or delivered to our agency on or before May 31, 2011 for residential and commercial properties and on or before June 16, 2011 for business personal property. Also, effective for tax year 2011, all accounts will have an appraisal notice link on the website allowing a taxpayer to print an appraisal notice.
11. Can someone come look at my property?
The appraisal district will look at your property at your request under certain restrictions. If an on-site inspection is required, the appointment will be during normal working hours. An inspection request during the Appraisal Review Board (May through July) process would be difficult to schedule due to time and staffing constraints.