Travis County property appraisals for 2017 are in, and taxable property values increased from $155 billion to $180 billion, a 16 percent climb from 2016, according to preliminary information released this week from the Travis Central Appraisal District.
The average taxable home value also increased by 8 percent from $285,332 in 2016 to $307,997 in 2017. Here is a breakdown of taxable home values per each taxing entity:
Travis County Chief Appraiser Marya Crigler said in a statement Tuesday the Austin region is entering its eighth year of positive growth in the real estate market and overall economy, citing the city's job creation record and low unemployment rates.
"This steady job and population growth remains the primary reason behind the strong demand for housing; however, the supply of housing continues to lag behind this strong demand," Crigler said. "2016 marked the fourth consecutive year that housing supply remained in the 2.0-month range, well below the 6.5-month level the Real Estate Center at Texas A&M University estimates is a balanced market."
That means if home sales continue at the same pace for two months without any homes added to the market, then the Austin area would run out of available residential units to purchase.
Area breakdown
The appraisal area with the most significant growth in value was east of I-35 between Hwy. 290 and US 183, according to a map provided in the news release. The central East Austin area experienced a 21 percent hike in taxable value from 2016 to 2017.
The map shows the percent change in taxable property value in each appraisal area in Travis County. Taxable values in 2017 jumped 21 percent in central East Austin, according to the preliminary figures.[/caption]
Although values in the western-most parts of the county continue to be among the highest, value change was comparatively stable in that area.
The lowest homestead appraisals came from three school districts: Del Valle—$160,229, Elgin—$169,053, and Manor—$195,177.
How to protest
If property owners disagree with the assessed market value of their property they can file a protest with the Appraisal Review Board by
filling out this form. A protest form is also included with the formal notice of appraised value. The deadline for filing a protest is May 31 or 30 days after the notice of appraised value was mailed, whichever is later.
The appraisal district received 118,000 protests last year.
See this year's preliminary appraisal trends for Williamson County.
The map shows the percent change in taxable property value in each appraisal area in Travis County. Taxable values in 2017 jumped 21 percent in central East Austin, according to the preliminary figures.[/caption]
Although values in the western-most parts of the county continue to be among the highest, value change was comparatively stable in that area.
The lowest homestead appraisals came from three school districts: Del Valle—$160,229, Elgin—$169,053, and Manor—$195,177.
