Travis County property owners are in shock as appraisals were released last week. Appraisals for residential properties rose over 19% from January 2019 to January 2020. As housing demand continues to increase, the appraisal district is reporting higher home values.
Texas law caps increases of tax-assessed value to 10% per year for those with homestead exemptions. The deadline to apply for exemptions is April 30th, but homeowners are able to file a late application for up to 2 years.
As values continue to skyrocket, it is important to protest your value. Last year there were over 127,000 protests, with even more expected this year. Considering Travis County properties are subject to some of the highest tax rates in the country, a successful protest could save you hundreds or even thousands of dollars every year, depending on the value of your home. The deadline to file a protest is May 17th.
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See the articles below for more information:
Travis Central Appraisal District: Home market values increase 19% in one year
Tax experts anticipate more home appraisal protests than ever in Travis County