Central Texans experiencing sticker shock as 2022 property appraisals are sent out

AUSTIN, Texas — Central Texas counties are sending out property value determinations and fairly a number of householders are coping with sticker shock, because of the world’s booming development.

Travis County started sending out property appraisal notices to 400,578 property homeowners this week. As a complete, residential house value determinations elevated by 56% in 2022.

The chief appraiser for Travis County, Marya Crigler, mentioned the figures are stunning however they had been anticipated.

“It actually is a matter of provide and demand within the Austin space. We’ve super demand for housing, however very restricted provide,” Crigler mentioned. “A stabilized market ought to have 4 to 6 months of housing stock in Austin. We have been under one month for over a 12 months,” she added.

Crigler mentioned this should not be a trigger for panic about future tax payments. As an alternative, she encourages householders to deal with submitting for exemptions.

“The largest factor you are able to do is file to your homestead exemption,” Crigler mentioned.

The homestead exemption prevents your taxes from rising greater than 10% per 12 months.

Charles Denson, the proprietor of Gill, Denson & Firm a property tax protest service, mentioned there are misconceptions in regards to the homestead exemption.

Change to homestead exemption legislation inflicting confusion for some property homeowners

“We spent loads of our time on telephone calls throughout this time of 12 months, particularly proper now on this 12 months, to elucidate to shoppers what meaning. That signifies that their property goes to robotically enhance 10% yearly,” Denson mentioned.

His message to householders in all places is to protest your property taxes yearly.

“That is one thing that you must maintain in management 12 months after 12 months or else it might spiral out. Should you plan on proudly owning your own home three years, 5 years, 10 years, these taxes, even at a max enhance of 10%, can enhance fairly a bit,” Crigler mentioned.

Texas property value determinations are going out once more, however you may protest them. Simply be sure to have a homestead exemption first

In years previous, Denson mentioned his firm is often in a position to get native house owner’s value determinations lowered by about 7%. Nonetheless, with the present market circumstances, this 12 months his prospects might solely see a 4% to five% discount.

“Tax protesting is an important a part of proudly owning your own home identical to it will be upkeep,” Crigler mentioned.

The deadline to protest your appraisal in Williamson and Travis counties is Could 16.

The Travis County Appraisal District could have a webinar on learn how to protest your appraisal on April 27.

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