The Harris County Appraisal District states the 2022 market worth for households is unprecedented. Most property owners in the space will see the improve by assets taxes.
HARRIS COUNTY, Texas — Why could the booming actual estate current market be bad news for owners in Harris County?
The housing sector is crimson very hot appropriate now. Desire is large and source is very low, driving up costs throughout the place. Even if you’re not hunting to market or purchase your dwelling, you could still pay back the rate many thanks to property taxes.
The head of the Harris County Appraisal District says the improve in sector values for 2022 is unparalleled. Now they’re mailing out letters telling homeowners how a lot much more their dwelling is well worth, and folks are obtaining sticker shock.
That is for the reason that the normal house benefit has enhanced 21% in one particular calendar year. But that’s just the ordinary. Some have increased by as considerably as 30%.
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And very considerably everyone is finding strike. The Harris County Appraisal District states the values of above 95% of residential homes in the county have elevated.
The great information is the homestead exemption in Texas caps the yearly increase at 10 %.
So what can you do if you are experiencing a significant property tax bill?
Initial, verify and make sure you happen to be really receiving that homestead exemption. There are other exemptions for seniors and the folks with disabilities that can lessen your bill. You can verify on individuals at HCAD.org.
You can also file a protest by the May perhaps 16 deadline. Guidance on how to do that will be in that appraisal letter sent out by the county.
Note: The subsequent video clip was uploaded on March 21, 2022