AUSTIN (KXAN) — Notices of Appraised Value for the 2023 tax year are on their way to Travis County property owners, the Travis Central Appraisal District confirmed in a news release.
Additionally, updated market values will be posted to the TCAD website in the coming days, the release said.
Appraisal notices are being mailed to 434,362 Travis County property owners beginning this week, and the notices will be mailed out between mid-April and early May, TCAD Chief Appraiser Marya Crigler said. Additionally, the notices will include the market value assigned to a property as of Jan. 1, and the taxable value of the property based on its exemptions, the release said.
The Travis County appraisal roll increased 13% to $485 billion, led by a strong performance in the industrial, retail, multifamily and hotel sectors overall, the release said. Furthermore, the 2023 median market value for a residential property in Travis County is $612,568 and the median taxable value of a residential property is $375,978, according to TCAD.
“The data tells us that the local housing market is stabilizing and returning to a pre-pandemic normal,” Crigler said in the release. “But the retail, hotel, multifamily, and industrial sectors continue to see strong growth.”
According to a Texas Comptroller of Public Accounts review of 2022 market values, it found TCAD’s values were “within the legally required 5% margin of error for accuracy.”
According to TCAD, property owners have the right to file a protest with the appraisal district if they believe their property’s market value is incorrect.
The deadline to file a protest is May 15 or 30 days after a notice has been mailed, the release said. Furthermore, the release said property owners are strongly encouraged to file their protests online through the TCAD online portal.
“Property owners who do not receive a notice in the mail are encouraged to review their property on our website to avoid missing the protest deadline,” Crigler said. “Submitting your protest early will give you more time to submit your evidence, schedule an informal meeting, and resolve your protest.”
TCAD will host a webinar on the 2023 protest process at 11:30 a.m., May 3. To register for the webinar, go to traviscad.org/webinars.
To find more information on market values and the protest process, go to traviscad.org.