The overall preliminary market value of Hays County properties rose 15.7 percent this year, with a 2019 total of more than $30.3 billion, up from $25.95 billion in 2018, according to figures released Monday by the Hays Central Appraisal District (HCAD).
The steepest increase actually came in vacant lots/tracts, which shot up by 47 percent from $607 million in 2018 to $895 million. Residential multi-family property saw the second biggest increase at 38.85 percent, from $1.6 billion in 2018 to $2.3 billion in 2019. “These increases were due to strong demand for residential and commercial sites, multi-family student housing and completion of new construction,” Chief Appraiser Laura Raven said in a press release.
Commercial and industrial property rose in value by 22.68 percent, with a 2018 value of $2.38 billion growing to $2.92 billion this year. The average value of homes across the county rose by 9 percent, HCAD said. Over the past year, the county added 2,749 new homes and 87 new commercial buildings; and “total new improvements” added more than $812 million to 2019 taxable value.
Raven said how this year’s appraisals will affect Hays County homeowners “remains to be seen,” adding that last year, HCAD received 18,331 appraisal protests.
Monday marked the day the district began to mail out 94,987 appraisal notices.
The appraisal district’s values will be used by the county, cities, school districts and other taxing entities to set 2019 property tax rates and to determine the amount of taxes property owners owe. Property owners have until May 15 to file a protest in person at the HCAD offices, 21001 I-35 North, Kyle; online at www.hayscad.com, or by email to [email protected].
For more information, contact the office at [email protected].
