Property tax notices are being mailed this month throughout the State of Texas. In the Austin area, the numbers are up by double-digits.
Tax values for commercial and residential property in Travis County total $124 billion this year. That's a 15% increase over the $107 billion tax base for 2013.
Even Appraisers are Surprised
"How strong our market is was a surprise to us," Travis County Chief Appraiser Marya Crigler told KTBC-TV. "We didn't expect it was going to be quite as strong as it has been. To be honest with you, even looking at the sales that we see in the first part of 2014, it continues to appreciate," Crigler said.
A major reason behind Austin's soaring real estate values is the ever-increasing jobs market.
In Forbes.com Best Cities for Jobs 2014, the Austin-Round Rock-San Marcos area jumped from #10 in the nation last year, to #3 this year.
The report says job growth in the Austin area jumped 13.7% from 2008-2013.
Texas Appeal Deadline is June 2
Throughout the state, owners dissatisfied with their appraised values can file a Notice of Protest with their local Appraisal Review Board (ARB) before June 2.
After the ARB rules, it will send a written order by certified mail. Owners then have the right to appeal the ARB's decision.
Depending on the facts and type of property, appeals can be filed to the state district court in the county where property is located; to binding arbi¬tration; or to the State Office of Adminis¬trative Hearings (SOAH).