Important Notice
Menu
Menu
NOTICE OF VALUE FOR REAL PROPERTY
Mailed June 24, 2024
DEADLINE to file a protest – MAY 24, 2024 (postmark)
Business Personal Property, Utilities and Industrial Property will have Notices of Value mailed late May. Owners will have 30 days from that mail date to protest those properties.
Please continue to check back for updates.
* * * * * * * * *
INFORMATION AND GUIDANCE REGARDING
YOUR NOTICE OF VALUE
What does your notice tell you? Please look to the line TOTAL MARKET VALUE. This is the appraised value as determined by the appraisal district using recent sales data, updated cost information or current rent rates on some commercial. The first line: structure/improvement value is the value proposed on all structures on the land tract. The appraisal district values property as of January 1st FOLLOWING what the local market has done. The values represent what the property would sale for based on what properties have sold for. The district FOLLOWS the market, it does not SET the market. There has been a substantial boom in new structures, both residential and commercial as well as new subdivisions beginning to come online.
COMMERCIAL SUMMARY – Generally speaking: There is significant activity of sales, building and remodeling for commercial property. Drive down any major street and you will see how things are changing. Considering all the tracts that have sold, but having a lack of confirmed sales data, the district must rely on loan documents and current cost approach to determine Market Value. The community “square” in Bonham, Honey Grove and Leonard will see the most dramatic corrections to value. There are exceptions to these generalities.
LAND – Generally speaking: There continues to be a high volume of land sales. The typical lots and rural acreage appear to have less significant fluctuations and are leveling out somewhat. There will still be pockets in the south, southwest part of the county still spiking more quickly. Of course, any lake front or lake view properties, as well as commercial tracts anywhere are still extremely volatile and will reflect a much higher value this year. There are exceptions to these generalities.
RESIDENTIAL – Generally speaking: HOMESTEADS- remember, if you have a homestead, your taxable value will continue to roll up a maximum of 10% (plus the value of anything new) each year. So even if your Total Market Value increase was minimal, your value will continue to roll up until it reaches the Market Value. All Residential: sales continue to go up, but the days on the market, or the length of time to sell is slightly longer. In addition, the rate of appreciation, or increase is not as steep as in the recent years, but it is still very active as supply does not match demand. There are exceptions to these generalities.
There are two targets for the Appraisal District. Value all property at Market Value, EQUALLY appraised with like properties in similar areas. So, BOTH Market and Equity are targets of the appraisal district. Please review your value and ask: Based on what is happening around me, in my area, would my property SELL for the proposed value? Do I have exemptions for which I qualify? Are the acres right, as well as my address?
COME VISIT – If you have questions or would like to review your appraisal, please come to the appraisal district. ALL CHANGES ARE EVIDENTIARY. If there is anything that may assist in correcting your appraisal, please bring documentation. Dated photos, estimates, appraisals (within 12-18 months) and/or closing documents are ALL helpful evidence. It is strongly recommended that you file your protest—WATCH THE DEADLINE! If you go ahead and file your protest, you can exchange information and work with your appraiser UNTIL THE DAY BEFORE YOUR HEARING.
TO WORK WITH AN APPRAISER, IT MUST BE PRIOR TO YOUR HEARING DAY. THE DAY OF YOUR HEARING IS FOR PRESENTING YOUR EVIDENCE TO THE APPRAISAL REVIEW BOARD.
NO ACCESS Properties – The law requires an onsite inspection at least once every three years. If you have gotten a letter requesting access for inspection, or the property has not been inspected, you will need to set an appointment for inspection before your hearing. The appraiser will not be able to make any adjustments from the increased estimated appraisals without the required inspection. No appraiser sets the bottom-line value, but rather confirms measurements, condition, and amenities to assure equity with neighbors and to be sure everyone is at the same level. For every person not carrying their fair share, someone else pays more. The target is the most correct value, based on the most accurate data. The staff would be happy to assist you with this and can come update your appraisal data. Once your appraisal is accurate, there may not need to be a protest, or if there is, at least it can be based on current information. Though there does not remain very many properties in this category, the values will continue to be estimated up each year as this is not fair to everyone.
REGARDING A PROTEST: You may file online: fannincad.org or you may drop off or mail in. PLEASE NOTE THE DEADLINE. This is absolute. If the protest is not postmarked by this date, it is invalid with out good cause, which requires a letter to the Appraisal Review Board, asking them to accept a late protest. (PROTESTS NOT ACCEPTED VIA EMAIL OR FAX)
Section 3 of Protest Form: You must choose the reason for protest.
Section 4: You may list evidence or your opinion of Market Value.
Section 5: You may choose to be heard by the regular panel (usually 4-5 members) or by a
single member. You may choose to be heard by telephone, or by affidavit. BOTH of these options require you put together your sworn evidence and it be at the Appraisal Review Board by your hearing time. There is an additional required form for this.
Section 6: Your Notice of Hearing will be sent 1st Class Mail, unless you choose Certified mail-
which requires prepayment of $7.80. If you choose email, all correspondence will shift to email IN PLACE of regular mail.
Section 8 – BE SURE TO SIGN your protest.
EXEMPTIONS – Be sure you have your homestead. Property must be in your name, it must be your primary residence, and your driver’s license address MUST match the address of the home. EVERYONE CAN ONLY HAVE 1 homestead. The year you turn 65 years of age, you may qualify for additional homestead savings as well as a tax ceiling.
AG VALUATION OR WILDLIFE VALUATION – Deadline to file is April 30th. Applications may be accepted late, with penalty, until the Appraisal Review Board completes their hearings (typically early July). Ag guidelines may be found on the website or visit with the Ag Appraiser. Depending on what your primary crop activity is, there are minimum size requirements. Wildlife appraisal is a converted use. The property must first have qualified in traditional ag, then convert to wildlife. This requires a 5-year plan and has a minimum of required activities based on your targeted native species. Again, information is on the website, or come by and visit with the Ag Appraiser.
Within this site you will find general information about the District and the ad valorem property tax system in Texas, as well as information regarding specific properties within the district.
Fannin Appraisal District is responsible for appraising all real and business personal property within Fannin County and parts of four surrounding counties. The district appraises property according to the Texas Property Tax Code and the Uniform Standards of Professional Appraisal Practices (USPAP).
Fannin Appraisal District is responsible for the fair market appraisal of properties within each of the following taxing entities:
| City Of Bailey | City Of Trenton | Sam Rayburn ISD |
| City of Bonham | City of Whitewright | Leonard ISD |
| City of Dodd City | Town of Windom | North Lamar ISD |
| City of Ector | Blue Ridge ISD | Sam Rayburn ISD |
| City of Honey Grove | Bonham ISD | Savoy ISD |
| City of Ladonia | Dodd City ISD | Trenton ISD |
| City of Leonard | Ector ISD | Whitewright ISD |
| City of Pecan Gap | Fannindel ISD | Wolfe City ISD |
| City of Ravena | Honey Grove ISD | Fannin County |
