Q: How can RES reduce my property taxes?
A: RES is a real estate company specialization in Real Estate Brokerage and Property Tax Consulting for over 30 years. We have developed an organized process for compiling and analyzing data for each property we represent. This includes researching the public records for the subject property, examining recent sales of similar properties in the vicinity of the subject and performing an assessment comparable analysis. When the Collin County Central Appraisal District was started, our Broker and Owner, Charles B. McKissick was one of the first appraisals review board members.
Q: If I hire you, what do I have to do?
A: We would ask you to discuss your property and objectives with us for a few minutes on the phone. Sign a limited Appointment of Agent (depending on your needs), agree to the Service Agreement posted on our website and submit the annual $100.00 fee. The whole process should take no more than five to ten minutes of your time.
Q: How are my tax savings calculated?
A: For the tax year in question, subtract the property's final assessed value (after the protest hearing) from its initial noticed value. Then multiply the difference by the total tax rate. The resulting number equals the amount of tax savings. For example, if the initial assessed value is $100,000 and the final assessed value achieved by RES is $90,000 and your tax rate is 3%, property taxes saved are $300.
Q: Is there a fee if you don't reduce my taxes?
A: The only fee will have been the annual $100.00. There are no additional fees unless we reduce your property taxes. We will send you an invoice for 25% of the tax savings and payment will be due within 10 days of the invoice date.
Q: How are fees billed for current and future years?
A: If we reduce your taxes, the fee is applicable for the protested year only. Your contract will automatically renew on an annual basis, when the annual fee is received, and it will remain in effect until you cancel it. You will receive an invoice in May for the annual fee and we will continue protesting each year and send you another invoice if we reduce your property assessment for that year. You may cancel the agreement prior to May or after July 31 of each year.
Q: When is the deadline to protest my property value?
A: In Texas the deadline to protest property values is May 31. The appraisal district is required to send notice if the assessed value is increased by more than $1,000 from the prior year's value.
Q: When do the new tax rates come out?
A: August – September Collin County completes “truth in taxation” requirements and set their tax rate just before the tax bills are issued.
Q: If I have property that currently has an “Ag” exemption, is there any reason to protest my property value?
A: Absolutely. Collin County is a rapidly growing area. At some point it is possible that your property will be sold for development or commercial use and once the Property use has changed from Ag to something other, Rollback Taxes will be assessed. This will be a major point of negotiations when selling your property and that Rollback tax will be based on previous years Property Values. Call for further explanation.
Click here to view the Collin County Tax Calendar