If you own a home and property you’re more than likely going to see a increase in property values this year. A state mandated Assessed Value Maximum/ increase through the Texas Appropriations Bill went into effect.
This increase was voted into play by the Texas Legislative session and passed by Dan Patrick Lt Governor setting a required a property value increase for the past 2 years of 7.04% and 6.77% increase respectively.
What this means is basically you will pay more in property taxes due to that increase. This does not include the Property tax rate the local governments have to set in place by late August.
Many of you have more than likely received your property valuation notifications and have seen some type of increase. MCAD Chief Appraiser Maggie Duran states that the mandated increase is a bitter pill to swallow but local governments have to work with it and try to balance their end of the charging stick. “The way we work is through certain calculations which help us determine our values. Well it does become some issue because the State wants us to be (Charging ) at least at 95%. We were required by the State to increase values. Not all Properties will seen an increase of the same kind.” said Duran
They’re other contributing factors to value increases as well including overpricing of properties by the sellers.
Duran states that under Taxpayers Rights and Remedies anyone dissatisfied with the appraised value of their property may request an explanation before the state set deadline. The deadline for property owners to file most protests with the Appraisal Review Board is May 15 or by the 30th day after the notice of appraised value is delivered, whichever is later.
If you have any questions regarding your property(ies) evaluations you can visit the Maverick County Appraisal District located at 2243 N. Veterans Blvd or call to set up an appointment at (830) 773-0255