Tarrant County Home Appraisals Expected To Increase 7 To 10 Percent
FORT WORTH (CBSDFW.COM) - Your three bedroom house may not look any different to you than it did a year ago. When appraisers look at it though, they likely see something worth thousands of dollars more.
Property valuation notices for 2019 started arriving in mailboxes in Tarrant County this week. For another year, values are expected to be generally higher, with chief appraiser Jeff Law at the Tarrant Appraisal District saying he expects average values up seven to 10-percent across the county.
Any increase usually leads to higher tax bills after cities, counties and schools figure out their budgets.
The increase follows a real estate market that continued to see increased sales prices over the last year. Texas A&M Real Estate Center data shows the median home price in Tarrant County for February at $230,900, nearly $11,000 higher than a year ago.
The forecast is for price growth to slow in 2019.
Tuesday, a steady stream of property owners walked into the appraisal office in Fort Worth, looking for an explanation or to negotiate a lower value.
The district set up an "Express Café" this year, where owners can sit down with appraiser who can walk them through the online account process and look at property comparisons that help determine value.
Wyatt Norman came in after receiving notice his North Richland Hills home he bought in 2012, had increased in value by more than $50,000.
"The problem is, there's nowhere else affordable in the DFW area to live," he said. He contacted legislators urging them to pass property tax relief this session, so owners don't have to wait two more years for help.
Law said more than 148,000 owners filed valuation protests last year. About half never pursue the protest though, he said. Of those who do, 50 to 60-percent may receive some type of reduction.
The TAD also allows for owners to negotiate a reduced value online, instead of making a trip to the office.
Protests have to be filed by May 15. Dallas, Denton and Collin counties are expected to mail out notices before April 15.
