HOW-IS-MY-PROPERTY-APPRAISED

							   How’s My Property Appraised?                                                           Adjustments are made to account for          your value. This board is a panel of
                                                       Sales comparison                   each properties individual characteristic.   local citizens that will listen to the
                                                       Cost approach                                                                   evidence presented by you and the
                                                       Income approach                    Oil and Gas properties                       district to determine the value.

                                             The appraisal district must utilize          This income approach to value forecast       How are my taxes calculated?
                                             methods and procedures of each               the future net income attributable to the
                                             approach and apply them uniformly to         future sale of oil and gas reserves and      The taxing jurisdictions (county, cities,
                                             similar properties in a process known as     then discounts this future net income        schools, and special districts) determine
                                             mass appraisal.                              back to present value.                       your tax burden based upon the tax rates
                                                                                                                                       they adopt to fund their operating
                                             Sales Approach                               Market value vs Appraised value              budgets. These rates are adopted in
                                                                                                                                       August or September of each year after
At least once every three years, each        By maintaining a database on sold real       Texas law provides a limitation on           public hearings.
                                             estate transactions, we can arrive at the    homestead properties allowing only a
parcel of property in Titus Cad is
                                             property value by studying the sales of      10% increase in the appraised value of       Your taxes are calculated by dividing
reviewed by an appraiser in accordance                                                    your homestead. This 10% limitation          your taxable value by one hundred and
                                             similar properties and adjusting those
with Texas law.                              properties to match the description of       controls your taxable value increase to      multiplying by the jurisdiction’s tax rate.
                                             your property.                               no more than 10% per year. However,
During a visit the appraiser reviews                                                      Market Value will reflect the trends in                Market value         $100,000
property characteristics and records any                                                  the sale of real property similar to your              Less exemptions        -15,000
changes from the last review cycle. This     Cost Approach                                property. Market Value can exceed the                  Taxable value            85,000
review identifies condition, new                                                          appraised value of your property.                      Apply tax rate        x 0 .1000
                                             This approach measures the cost to build                                                            Assessed Taxes            $85.00
additions, such as shops, shed, pools,
                                             your home in today’s market reducing         How Can My Value Change
etc., or other changes that affect value.                                                                                              How can I lower my taxes
                                             the cost by adjusting for the age and
                                             condition of your property. This             The appraisal districts are charged by
Appraisal District appraisers will inspect   reduction process is called depreciation.    law to measure the market activity of        A variety of exemptions are available to
the interior of your home upon your                                                       real estate within their jurisdictions. A    homeowners and disabled veterans. If
request or if it’s new construction and                                                   very active demanding market can cause       you own a farm or ranch, or grow a crop,
                                             Income Approach
you are not living in the home.                                                           a rapid increase in market value. A          you may be eligible to receive a special
                                             This approach is an approach to measure      sluggish economy and no demand can           evaluation based on your land’s potential
The appraiser will validate the:             value on income producing properties.        make a market decline or remain at a         productivity capabilities rather than
                                             This analysis is generated using potential   level pace until activity creates a          market value.
         Square footage                      gross rent and allowable expenses to         recognizable trend. Your value can also
         Construction quality                determine a net operating income. This       change when you make additions or            For more information visit our website
         Physical condition                  income is capitalized into value.            improve your property.                       or contact us:
         Architect design
         Amenities                           Mass Appraisal                               If I disagree with the district                  Titus County Appraisal District
         Construction type                                                                                                                      2404 W. Ferguson Rd
Using these facts the appraiser will         Mass appraisal methods and techniques        You should contact the district within 30                 P. O. Box 528
determine your value as of January 1         used by appraisal districts take a           days of receiving your appraisal notice.         Mt. Pleasant, Texas 75456-0528
considering the following                    universe of similar properties and           If you still disagree you may file a                      903 572-7939
approaches to value                          appraise them with similar values.           formal protest and appear before the                    www.titus-cad.org
                                                                                          Appraisal Review Board to determine