Residential properties in the county increased by 15% on average year over year, according to the FBCAD. Properties with a homestead exemption increased by a comparable amount, but these properties have a 10% cap on the increase of their taxable value. Property value increases were driven by low inventory and high demand in Fort Bend and Harris counties.
FBCAD Chief Appraiser Jordan Wise said in a release the county saw an “unprecedented rise in sales volume and price” after the onset of the COVID-19 pandemic.
“This year with rising interest rates and inflation, sales volume has dropped to prepandemic levels, creating a market that is more balanced than recent history,” Wise said.
Property owners can apply for exemptions through the FBCAD exemptions portal. Additional information on 2023 appraised values can be found here.
