Taking into account differences such as age or location, the district uses the typical property values to appraise all the properties in the class. The value of your home is an estimate of the price your home would sell for on January 1. The appraisal district compares your home to similar homes that have sold recently and determines your home's value. The district uses the other methods to appraise types of properties that don't often sell, such as utility companies and oil leases. A notice of appraised value tells you if the appraisal district intends to increase the value of your property.
Chief appraisers send two kinds of notices of appraised value.
A detailed notice contains a description of your property, its value, the exemptions, and an estimate of taxes that might be owed. If the conditions for the above notice do not apply, the chief appraiser will send a short notice without the tax estimate if your property was reappraised, changed hands, or if requested by you or your agent. The chief appraiser must send you the notice of appraised value by May 15 or as soon thereafter as possible. The notice of appraised value explains how you can file a protest with the ARB if you disagree with the district's actions. The notice will include instructions on how and when to file a protest and will include a protest form.