According to a news release from chief appraiser David Valle, the average market value of homes in Hays County grew 7.1 percent since 2017.
The average Hays County market value for 2018 is $230,014, which is $17,022 more than 2017. Market value means what the property would sell for, and taxable value is what the market value minus exemptions, such as a homestead exemption.
Below is a breakdown of average market value and taxable value for various taxing entities in the county between 2017 and 2018.
New improvements added more than $981 million to the taxable value for 2018, thanks to 2,628 new homes added and 83 new commercial buildings added in the county.
Hays County's overall preliminary market value for 2018 rose to $26.58 million this year, up 13.3 percent from last year. Commercial and industrial property increased in value by 12.61 percent to $2.5 billion this year.
The county's biggest increases in value came from vacant lots and residential multifamily properties, according to the release.
"These increases were due to strong demand for residential and commercial sites, new construction, multifamily student housing and completion of new apartment projects," Valle wrote in the news release.
The county, cities within the county, school districts and other taxing entities, such as emergency services districts, will use the appraisal district's values to set 2018 property tax rates and determine the amount of taxes property owners will pay.
Property owners have until May 30 to protest their appraised values if they feel their property was not adequately appraised. Residents should gather evidence showing why their value should be lowered, such as recent sales of comparable homes, photos of damage and repair estimates. Protests can be filed at the Hays Central Appraisal District, 21001 N. I-35, Kyle; by phone at 512-268-2522; online at www.hayscad.com; or by email at firstname.lastname@example.org.
Last year, the Hays Central Appraisal District received 14,602 protests, according to the release.