Hays County home values rise nearly 9%


Highlights

Chief appraiser: Rising values reflect contined population, job growth.

Homeowners have until May 31 to protest values.

The market value of homes across Hays County rose almost 9 percent for 2017 as the area continues to boom, Hays Chief Appraiser David Valle said Tuesday.

The average market value of homes in the county increased 8.9 percent, to $231,509 this year from $212,401 last year, Valle said.

The taxable value of homes — whihc is the market value minus exemptions — increased 9.8 percent on average, to $216,169 from $196,739 last year, he said.

Job and population growth in the Central Texas region continue to drive housing demand in Hays County, which is one of the nation’s fastest growing counties, Valle said.

“People are looking at Hays County where housing costs are a bargain compared to Austin,” Valle told the American-Statesman. “The preliminary values show the growth and overall health of the entire county.”

The Hays Central Appraisal District started mailing out 86,122 appraisal notices on May 1. Property owners will have until May 31 to file a protest to appeal to the Appraisal Review Board.

The percentage increases in Hays’ home values mirrored those in Travis and Williamson counties, reflecting ongoing growth in all three counties.

The average taxable home value in Travis County increased 7.9 percent, to $307,997, and the average market value rose 6.3 percent, to $412,092.

Across Williamson County, the average taxable value of homes was up 8.4 percent, to $268,736, for 2017. The average market value of Williamson County homes increased about 8 percent this year over last, rising to $280,537.

How this year’s appraisals will affect homeowners’ tax bills in each county remains to be seen. The counties, cities, school districts and other taxing units will use the appraisal districts’ values to set 2017 property tax rates and determine the amount of taxes property owners will pay.

In Hays County, the overall preliminary market value for 2017 rose to $23.4 billion this year, up 10 percent from $21.3 billion in 2016, figures show. Commercial and industrial property increased in value by 10.4 percent, to $2.2 billion this year compared with $2.01 billion in 2016

Apartment properties saw the biggest increase in value, rising 14 percent to $1.5 billion from $1.3 billion last year. The increase, Valle said, was due to new construction, completion of new apartment projects and a strong demand for multi-family housing.

Hays County added 2,085 new homes and 49 new commercial buildings to the appraisal roll for 2017. Total new improvements added more than $637 million to the taxable value for 2017, Valle said.



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