Montgomery County property values have risen 12.5 percent on average since last year, and Conroe, Montgomery and Willis have all seen an overall market value increase, according to Montgomery Central Appraisal District data.
The market value of residential properties in Montgomery County, including new construction and development, increased by 11.2 percent on average, according to preliminary numbers. The figure marks the third consecutive year that property values have increased by more than 10 percent.
“Our valuations are strictly driven by the market,” MCAD Deputy Chief Appraiser Tony Belinoski said. “We have a big demand for property in Montgomery County, residential properties and the supply are right where they need to be to make it a sellers market.”
In 2015, Montgomery County saw 5,500 new subdivision lots platted for residential construction, Belinoski said.
Montgomery County saw double-digit percentage increases regularly before 2008—when the U.S. housing market crashed, leading to a slowdown in local property value increases.
“Even during that time we saw a downturn across other areas in the nation, but Montgomery County didn’t really see a downturn. Values simply didn’t increase as much as they had in the past,” Belinoski said. “Since then, we have steadily seen the market rise here in the county.”
Belinoski said appraisals increased by 12.9 percent in Conroe, 28 percent in Montgomery and 10 percent in Willis. City valuations include growth from recent annexations as well as new development.
“You can drive through and see all of the new subdivisions going in everywhere around Conroe,” Belinoski said. “You are definitely starting to see some development out in the small city of Montgomery. I think they are about to lose their small-town feel. They are starting to follow along with everyone else with growth.”
MCAD has sent appraisal information to local residents, who have an opportunity to appeal the appraised values of their property, MCAD Chief Appraiser Mark Castleschouldt said.
“We mailed out approximately 180,000 notices of appraised value this year,” Castleschouldt said. “That covers residential properties, commercial and business personal properties.”
The office has already started seeing property owners who seek to protest the increases because it caused their property taxes to rise.
To file a protest, property owners must present the Appraisal Review Board with a written protest letter with a U.S. Postal Service cancellation stamp with a time and date no later than midnight of the protest deadline. This can be delivered in person or via mail. Property owners in Montgomery County have until May 31 to protest their appraisal.
“Most residential markets went up,” Belinoski said. “The commercial market [increased] not as much as we’ve seen in the past. I think a lot of that is due to The Woodlands area starting to peak out on their building area.”
The 2015-16 appraisals are preliminary and will be certified by July 25.
