After five years of strong demand, limited supply, and rising sale prices in Austin-area residential real estate, it’s no surprise that the taxable values of homes are also rising. Here’s a summary from Hays County:
For comparison, these are similar recent reports about Travis and Williamson counties:
So, Hays County appraisals are up almost 9%, Travis up 10%, and Williamson rose 6%.
I have provided data to quite a few of my clients this year to help them protest their appraisals. Everybody’s situation is unique — how long they’ve owned the property, whether they have a homestead exemption, and over-65 exemption, etc., how long those exemptions have been in place … and, of course, where the property is located. Yes, prices have trended upward pretty much everywhere over the past few years, but some areas and some specific neighborhoods have experienced this market very differently, rising much more than the average, or somewhat less.
As I commented a couple of days ago, it looks like another very busy year with an out of balance real estate market, so buckle up for similar increases in tax appraisals next year.