Property Taxes and ForeClosures in the Dallas, TX area
Posted by Terry & Janis Spear on Wednesday, January 28th, 2009 at 7:25pm.I recently went to an appraisal review on a property that I had purchased that was a foreclosure. The closing occurred months went by and I did not pay attention to not having received my notice of appraised value. When I received my tax bill on my primary residence I went to the appraisal site and learned that the tax appraisal notice had bent sent to the bank instead of to my mailing address that was provided at closing. The title company apparently did not record the deed or either the folks at the appraisal district did not properly update the records in the county. I am saying all this to let you know to be sure once you close on a property that is a foreclosure you want to keep close watch on the appraisal district records. While at the appraisal hearing I learned that the appraisal review board will typically not hear cases of property tax reduction on a foreclosure as it is considered a non-arms length transaction and would not typically even hear the case. I was fortunate that the notice was mailed to the wrong location even though it was months past the time to contest appraised value they heard my case and reduced it. The thing I want you to take away is that when purchasing a foreclosed property at least in the Dallas, TX area be prepared to pay the previous assesed value not the value based on the price you paid on the foreclosure property. Please feel free to visit my website .
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