Early Figures Show Increase in Home Value

    Homeowners in Travis and Williamson counties will see modest increases in appraised values this year, based on preliminary figures from the county appraisal districts.

    In Travis County, the average home value rose 1.7 percent, to $277,820, based on preliminary figures, Chief Appraiser Patrick Brown said Thursday.

    In Williamson County, the average value rose less than 1 percent, to $187,088, according to preliminary numbers.

    “It’s relatively flat,” Chief Appraiser Alvin Lankford said.

    Brown said the increase in Travis County reflects that “it’s a stable marketplace.”

    Homeowners’ tax bills depend on both appraised values and tax rates set by cities, counties, school districts and other entities.

    Those decisions have not yet been made, although the City of Austin and Austin school district leaders are discussing whether to increase their rates.

    Lankford said about 45 percent of homeowners in Williamson County will receive a lower appraisal than last year, with 41 percent getting a higher amount. The rest will get an appraisal within $1,000 of the 2010 figure.

    Additionally, Williamson County will offer online appraisal protests to more than 72,000 homeowners this year, and Travis County is extending the option to 75,000 homeowners, up from 35,000 last year.

    The online system allows homeowners to avoid the often-tedious process of going in person to make their protest.

    It’s generally available to people who live in neighborhoods with similar homes on similar lots, which makes comparisons easier.

    In Williamson County, appraisal notices going out will make clear whether a homeowner can use the online option. The property owner can then file a protest at www.wcad.org, and receive a link showing information on comparable properties. Homeowners will have five days to accept or reject the review.

    If they reject the review, they must appear in person before the Appraisal Review Board.

    “There are pockets (of strength), including the multifamily market, which is a little stronger this year,” he said. “And we’re anticipating a lot of strong increases in the downtown land area. But many of the markets are unchanged.”

    If  you have any questions regarding your appraisal or help protesting your appraisal – contact one of offices today!

    http://www.statesman.com/business/early-figures-show-modest-home-value-increases-in-1424412.html

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