For homeowners comparable sales adjusted to the subject property are the most important element considered by your Texas Appraisal Review Board. For commercial property owners comparable sales are one of the elements, the others being income and replacement cost.
The Texas Property Tax Code stipulates that comparable sales shall be adjusted to the property which is subject of the property tax protest.
- Sec. 23.013. Market Data Comparison Method of Appraisal.
- If the chief appraiser uses the market data comparison method of appraisal to determine the market value of real property, the chief appraiser shall use comparable sales data and shall adjust the comparable sales to the subject property.
Thus, adjustments are critical; a real estate broker’s Comparative Market Analysis is not much help without adjustments.
In this series of Adjustments to Comp Sales we’ll show owners how to adjust sales based on the criteria used by appraisal districts. The most important are:
- Neighborhood
- Size
- Age or Effective Age
- Class
- Condition
- Pool / No Pool
We’ll even show you how to use logic to dispute some of the the districts’ criteria that we think are not realistic. Search for Adjustments to Comp Sales: Lots and Logic. You can use our argument when it fits your purpose.
To find each, just search for “Adjustments to Comp Sales” and select each one separately.
