The Truth About Appraisal Values
To the Editor:
There are a lot of people who are very upset with the appraised value of their property. And they should be. Please don’t blame the local appraisal district for the increase in your appraised value. They really have very little discretion because they must appraise at market value.
Every two years the state does a property value study which is kind of like a report card for the appraisal district. If your local appraisal district’s values are not what the state determines they should be, there could be negative consequences for the local school district. If property values are not set at market value, the school district could lose state funding. Last year the value of properties in four out of five school districts in the county were below what the state determined that the property in that district should be. If these school districts are not in compliance one more time they could lose state funding. How did it get this way?
The answer seems relatively simple. We are blessed to live in a wonderful county with many amenities, great people, and some of the most beautiful property on the planet earth. We have been discovered. Many people have moved into our county. Some of those people have large amounts of money to spend. Price for these people is not a concern. Also, several years ago, we had a governor who went to California and said, “Come on down.” Well, they have come and continue to come.
Someone in California can sell a house for a million dollars and buy the same type of house in Fayette County for half a million dollars. Let me tell you how this property evaluation works. Let’s say that there are three houses, all worth $400,000. And you own the middle house. Your neighbor on the right decides to sell his house but he will say, “What the hell, I will ask $600,000.” And within several days the house will be sold. Sometimes, without the prospective buyer ever even visiting the house. Your other neighbor decides to sell his house also. Except now he is asking $750,000. And within several days his house is also sold. Suddenly, the house you own you thought was worth $400,000 is now appraised for $750,000. Whenever a piece of property is split up in Fayette County, the land prices go up. People have said, “Why doesn’t the Commissioners Court do something about it?” The simple answer is that the state has not given the county much authority over the land in its own county.
I am always amused when the governor gets all out of shape when the federal government mandates that the state do something. Then the state turns right around and tells the counties and cities what they can and cannot do. We are blessed to have local elected officials that are honest and fiscally conservative. After all, the best government is the one that is closest to the people. I encourage people to keep in touch with what is going on inAustin as well as your local government. The state is always proud about how few taxes the people of Texas pay. According to Wallet Hub, Texas ranks 7th out of 50 states in the amount of property tax we pay. The average Texan pays $3,746 compared to $1,113 in California. Keep in mind this is property taxes.
The Texas legislature is currently in the process of deciding what to do with the billions of excess dollars they have. The house has one plan which the governor has endorsed and the senate has another. After looking at both plans, I feel that the senate plan is the one that would give more relief to homeowners. Call or write your elected officials. Tell them how you feel about issues. After all, you pay their salaries and they work for you.