Appealing your property taxes could land you a bigger bill in Collin County

Photo by Tierra Mallorca on Unsplash

You hate to talk about it, you hate to read about it, and honestly you probably hate the word itself: taxes. But did you know that Collin County residents may end up paying more in property taxes after appealing, even if their taxable value is lowered?

With home prices on the rise and hitting record numbers, property values and property taxes increase as well. These skyrocketing prices are leading many to appeal their taxes. While nearly every news outlet and tax professional is encouraging people to protest their property tax increases, this could actually result in higher taxes for those in Collin County. 

Unlike Denton, Dallas or Tarrant County, Collin County calculates the Homestead Exemption, which lowers the taxable property value for those living on their property, based on the increase in market value of the home, rather than the 10% increase from last year’s property value. 

What does this mean for you? This means that the increase is so large that appealing your taxes could put you over the limit for the exemption, raising your taxes higher than before you appealed. 

“There should be no circumstance where a lowered value causes a higher tax bill,” said Toby Toler, property tax consultant. Collin County’s policy puts homeowners in a win-lose situation when a win should just be a win.”

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1 Comment

  1. This article is false. The calculation of the taxable value is dictated by the Texas Tax Code. It can not be more than 10% above the previous year’s taxable value. If your taxable value last year was $300,000 and your market value increases by more than 10% your taxable value and only increase by 10% or $30,000. That would make your new taxable value for 2022 $330,000.

    Collin CAD must use this method to calculate your taxes. The only exception is if you add a new improvement.

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