There is so much information out there regarding how COVID-19 may affect your property taxes and property tax appeal. While there is some good, accurate information available, there is also quite a bit of misinformation in the marketplace. We’d like to set the record straight on what we know now and how to best proceed with your property tax appeals process, knowing that information may change in the days and weeks ahead.

MYTHS:

MYTH #1 – Property tax protests and hearings are cancelled or delayed.

While some counties may have delayed their protest deadlines, many others are moving forward with their usual timelines utilizing online protest submissions. Hearings have not been postponed yet, and we should have more information on how that process will be handled in the coming weeks. Please check the website of each county that your properties are located in to stay abreast of specific deadlines and procedures.

MYTH #2 – Property tax payments are suspended. Property tax rates will be adjusted.

We currently don’t know whether payments will be suspended or if property tax rates will be adjusted. This is still undetermined, so it’s important to move forward with your usual property tax process. Once relief efforts are confirmed, expect to hear from our team with updates.

MYTH #3 – There’s no need to file your property tax protest, because property taxes are going to be waived amid COVID-19.

At the present time, relief efforts are being assessed, but haven’t been confirmed, so it’s important to proceed as usual with your property tax protest. Any relief measures will certainly be welcomed, but if you miss the opportunity to protest, you are taking an unnecessary gamble that can impact your bottom line. 

MYTH #4 – Next year’s property taxes will be lower because revenue has been down amid COVID-19.

It’s important to remember that the property tax assessments you will be receiving are for tax year 2020 and they are by tax code based on a valuation that existed on January 1, 2020. As such, there is a strong chance many tax notices you receive will not take into account the impacts of COVID-19. Those likely will not be seen until 2021 and reflected in your property tax payments that are due January 2022. Even more of a reason to protest your 2020 assessment in the coming weeks and lower the amount you will need to pay this coming January as you recover from COVID-19. 

TRUTHS:

TRUTH #1 – COVID-19 has impacted the way some Texas counties are handling property taxes and the property tax appeals process.

Many counties have changed their deadlines and are actively finding ways to ensure your protests are handled with the current restrictions in place. Be sure to check the website for the individual counties that your properties are located in for updates on how they are moving forward.

TRUTH #2 – Filing a property tax protest is more important than ever.

Property values across Texas have skyrocketed in recent years and that trend continues to climb. This reality accompanied by the financial challenges that many business owners and investors anticipate amid COVID-19, reinforce the importance of your property tax appeal. There is no room for unnecessary, increased property tax payments in a business climate such as this.   

TRUTH #3 – There are relief measures being discussed at the state and local levels, but nothing is set in stone yet.

There is much being discussed by city and state leaders, though nothing is final. It’s important to move forward with your property tax appeal to ensure that you are protected with or without whatever relief may be granted in the coming weeks and months.  

This is a steadily evolving situation and the Patel Gaines team will continue to monitor the property tax environment closely. Should you have questions about how to move forward, our team is happy be your personal property tax resource as we navigate through this unusual time. Give us a call at 210.460.7787!

This content is provided for informational purposes only and is in no way intended to constitute legal advice or create an attorney-client relationship.