Jim Nyquist and ABC News Offer Tips on Avoiding Unfair Property Taxes

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As more and more property owners realize that their tax rates are much higher than they ought to be, realtor Jim Nyquist affirms a recent ABC News report, offering tips on avoiding these unfair tax rates.

The conventional wisdom is that paying taxes is simply an inevitable part of life, and that’s certainly true for those who own property. However, many homeowners might actually be paying higher tax rates than they ought to be. That’s the finding of a recent ABC News report, which claims that one of the symptoms of a battered housing market is the fact that many American homes are assessed at unrealistically high values—and many taxpayers are paying inflated rates as a result. According to real estate expert Jim Nyquist, however, property owners can take practical steps to realigning their tax rates.

Jim Nyquist, a prominent real estate figure in Austin, Texas, says that municipal governments have been taking in much higher tax revenues ever since 2006—at the taxpayer’s expense. “The reality of the current real estate market is that property values have dropped,” notes the realtor. “However, many homeowners have not experienced the kind of tax relief they might have hoped for. Values may have dropped, but, in many cases, tax rates have not.”

He confirms, however, that it is possible to fight property tax rates, especially when armed with suitable evidence. Jim Nyquist says the first step a homeowner should take is to evaluate the property’s report card from the local tax agency. Often, typographical errors will inflate the perceived value of the home. Correcting these errors, such as room size or overall lot size, can lead to a reduction in perceived value, and thus a reduction in tax assessments.

Jim Nyquist also says it can prove helpful to investigate the values of similar properties. “Homeowners should round up property value data on other, similar homes, which means homes of comparable size,” he advises. “It also helps to find homes that were built at roughly the same time, and are in the same neighborhood.” He notes that if the homeowner can locate five or more homes that fit these criteria, and that are valued at much lower rates, there is a strong case to be made for reducing their own tax burdens.

According to the ABC News report, another major factor is simple geography. Census data suggests that residents in New York and New Jersey will pay the most inflated property taxes, though following Jim Nyquist’s tips might lead to some measure of tax relief.


Jim Nyquist is, at 59 years old, a real estate professional with almost four decades of experience in the industry. A graduate of Minnesota State University – Mankato, the realtor currently lives and works in the greater Austin area. He specializes in short sales, foreclosures, and house-flipping ventures.

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Michael McGarety
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