How to Use the Property Tax Savings Calculator:

Instructions:

1. Enter Your Current Assessed Value:
   This is the value that your local tax authority uses to calculate your property taxes. You can find it on your latest property tax bill or by checking with your county's appraisal district website.

2. Enter Your Estimated Market Value:
   This is what you believe your property is currently worth. You can get an estimate by comparing it with similar homes in your area or by using online property value tools.

3. Review the Default Tax Rate:
   The default tax rate is set to 2.50%, which is common for many Texas areas. If you know your local tax rate, you can enter that instead. If you're unsure, you can leave the default rate as-is.

4. Click “Calculate Savings”:
   Once you’ve filled in the values, click the button to see your estimated tax savings.

Example:

• Assessed Value: $300,000

• Estimated Market Value: $250,000

• Tax Rate: 2.50%

In this case, the calculator will show your estimated savings based on the difference between your current assessed value and what you believe your property is worth.

Calculation Example:
Savings = (Assessed Value - Market Value) x (Tax Rate / 100)
Savings = ($300,000 - $250,000) x (2.50 / 100)
Savings = $50,000 x 0.025 = $1,250

So, if your protest is successful and your property value is lowered to $250,000, you could potentially save $1,250 on your property taxes.

Important Notes:

• This is just an estimate. Your actual savings will depend on your local tax authority’s final decision and your specific tax rate.

• Make sure your assessed value and market value are as accurate as possible for the best results!