1) Expertise - A property tax consultant must be an expert in real estate valuation, property tax laws and property tax appeals. A strong knowledge of these three aspects is what makes a property tax consultant valuable.
In real estate valuation the three approaches to value are the Income Approach, Cost Approach and the Sales Approach. In Texas property tax appeals we use a fourth approach know as the equity approach. The equity approach compares the values of similar properties to determine a median level of appraisal. A property tax consultant should understand each approach and know which approach is most appropriate and beneficial for the owner.