The short answer is “Maybe”. But the Property Tax Code provides the chief appraiser may not increase your value following a successful protest “unless . . .

Condo taxable values are ripe for readjustment. Adding to the incentive, in 2010 foreclosures will be admissible as evidence and general economic conditions will be admissible by law . . .

Homestead rights were historically vested only in individuals but the 2009 Texas legislature changed that. Home owners now have a new tool for estate planning . . ..

First quarter new home starts in North Texas were up almost 60 percent from the previous year at March 31 and an increase is expected for the second quarter of 2010 as well. It would mark the third consecutive increase in starts and could signal a recovery in home values.

For taxpayers the current protest season, which begins in May, may be the last best opportunity to reduce their taxable value. Waiting until 2011 may be too late because . . .

If your mortgage balance is more than your home’s value, the government’s recently announced assistance program can help bail you out. But your taxable value can influence your ability to qualify. Lower is better. That’s why it pays to protest to your Texas Appraisal Review Board in May.

Recovery of home values in Texas is going against the national continuing down trend caused by the overhang of a “shadow inventory” of homes coming on the market nationwide. For Texas homeowners, it means 2010 is the year to protest your property tax valuations; 2011 may be too late.