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Market News and Trends

Travis County Tax Appraiser: homes down, total stable


I just posted this article from the Austin American-Statesman at www.AustinMarketInfo.com:

Appraisal rarity: Travis home values drop

Notices Of Appraised Value are being mailed this week to property owners throughout Texas.  In Travis County, much like the rest of the Austin metropolitan area, the  average value of a single family home is down in 2010 compared to 2009 — by 2.8%.  Also like the rest of the metro area, the total value of all properties is supported by  new construction and gains in commercial real estate and remains with about 1% of last year’s total.  That is good news for taxing jurisdictions that had anticipated larger  declines, and should reduce pressure on them to increase property tax rates when those decisions are made later in the year.

Graph: Travis County Tax ValuesThis chart shows the history of both measures — home and total property values down slightly from last year. 

As always, some neighborhoods will see larger declines while others have experienced value appreciation.  In addition, mailing of valuation notices just begins the appraisal protest season.   Final values won’t  be certified until July.  It is reasonable to expect,  though, that fewer property owners will protest this year than when tax valuations increased across the board. 

I wrote yesterday about this process in Williamson, Bastrop, and Hays Counties (see Central Texas Property Taxes, 04/27/10).  The  average value of a single family home increased slightly in Bastrop County, but declined in Williamson and Hays.  In all three, value  gains in other property categories held total valuations above last year’s figures.

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About Bill Morris, Realtor

More than thirty years of business experience (high tech, client service, business organization and start-up, including many years in real estate) tell me that service is the key to success and I look forward to serving you. I represent both buyers and sellers throughout the Austin metropolitan area, which means first-hand market knowledge is brought to bear on serving your needs: -- Seller Representation is a comprehensive process that begins with thorough market analysis and consultation, continues with properly staging the home to achieve the highest price possible in a reasonable time on market, a complete program of marketing and promotion, ongoing updates and communication, closing coordination, and follow-up throughout (and after) the sale. -- Buyer Representation is also full service: shopping, previewing, price and market consultation, contracting, negotiating, coordination of inspections, appraisals, repairs, and closing details, and follow-up beyond the closing of your purchase to ensure your lasting satisfaction. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. I go the extra mile to help you achieve your goals. That's why I constantly research the market and property values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers.

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  1. Pingback: 2010: BillMorrisRealtor.com in review « Bill Morris' Austin Real Estate Blog - January 2, 2011

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