Grayson County Appraisal District appears to have over-taxed this property by 75%!

The house at 1218 S Walnut, Sherman, 75090 sold for $40,000 in March 2019.  Grayson County Appraisal District valued this property at $69,955 for the 2020 property tax year.

The owner will pay an extra $809 (2.7% tax rate times amount over-valued) in property taxes, just for this year, unless they protest their property taxes or hire a property tax consultant to protest for them.

The first step for home owners is to obtain a homestead for their primary residence.  It does not appear the home at 1218 S Walnut, Sherman, 75090 is the primary residence.  They do not have their homestead exemption.

Grayson County Appraisal District reports this 1,008 square foot house was built in 1920 and is located on a 4,626 square foot lot.

Because the property is  more than 25% over-taxed, it qualifies for a substantial error protest if a routine protest was not filed.

If you know the owners of the house at 1218 S Walnut, Sherman, 75090 please encourage them to file a property tax protest.  Even if they missed the May 15 protest deadline, they can still file a substantial error protest.  In many cases, if they provide the appraisal district with a copy of the closing statement, they will correct the value.

Just for filing a form with a copy of the closing statement the owner can save $809.

Grayson County property tax information: Grayson County Appraisal District

Grayson County property tax info: Unequal appraisal house