Residential Property Tax Services
2015 Market Cap Reduction Program
"The 2014 market reduction program was very successful for BTA customers by industry norms."
The "Taxman's" professional team has been at the appraisal districts protesting your property taxes. As you may know, property tax valuations increased throughout the Houston metro area in 2015 with Harris county continuing its recent trend of double digit increases. HCAD increased residential valuations sharply in 2015, nearly 15% on average in just one year. Almost 90% of all homes in Harris County above $80,000 are affected. In the commercial sector certain markets are seeing increases greater than 20% -- APARTMENTS UP 22%, RETAIL UP 21%, WAREHOUSES UP 23%, and LAND UP 23%! Valuations are continuing to go up the fastest we've ever seen!
The esteemed Ben Franklin used to say, "An ounce of prevention is worth a pound of cure." BTA introduced the Market Cap Reduction Program in 2014 to offer our customers the opportunity to lower their market cap. (Market Cap = Preliminary Market Value - Preliminary Appraised Value) With values up nearly 15% on average, any reduction in market cap gives a homeowner the advantage of having a lower final value from which any potential increases may be calculated next year. A lower 2015 final value is important because the appraisal districts use mass appraisals every year to calculate property valuations in neighborhoods. When using the mass appraisal approach a standardized percentage increase is assigned to the property tax valuations of homes in a neighborhood. The more BTA's team can reduce your property valuation this year the lower your value will be next year when 2016's mass appraisal increase goes into effect and is applied to the previous year's (2015) final value.
The Market Cap Reduction Program is the ounce of prevention that Harris County homeowners need in the hot property market we are facing today. This program gives you the opportunity to lower your market cap at a very low cost of $2.50 for every $1000 reduction in market cap. (If the reduction goes below the capped amount the invoice will reflect the higher of the market cap amount or standard contingency fee.) An example of why the market cap program is so important: a large $40,000 reduction in market cap would only cost $100 this year, but without the reduction you may pay as much as $1000 more on your property tax bill every year. That is why it has been a must year to protest these ever higher market values in 2015!
Existing customers with capped accounts were given the opportunity to opt out of this program with an inactive/non-protest status, if they chose to do so prior to the 2015 hearing season.
We believe that "It's All About the Taxpayers". Paul Bettencourt's team of State Licensed Senior Property Tax Consultants, Property Tax Consultants, and Customer Service Representatives are committed to helping you reduce your property tax liability. As a full service property tax firm for the residential property taxpayer, BTA offers you products and services that best meet your needs.