Out of the 167,500 value notices mailed April 2 by the Williamson Central Appraisal District to residential property owners, more than half will show a decrease or remain close to the 2011 value.
According to a news release by the appraisal district, 51 percent of residential properties reflect a decrease in value, 36 percent show an increase and 13 percent remained within $1,000 of their 2011 valuation. This is the fourth consecutive year that the majority of values have decreased or remained the same.
Alvin Lankford, chief appraiser, said the valuations are determined by the home sales within a certain area.
"We are truly a mirror reflection of what's happening in the market itself, in the sales that are happening within those neighborhoods," he said.
