Every spring, Travis County property owners whose market value has increased by at least $1,000 over the last year will receive a Notice of Appraised Value. This notice contains three important values:

Market value: This is the value based on what your property would sell for as of January 1.
Assessed value: This is the reduced value of your property based on limitations provided by having a homestead exemption.
Taxable value: This is the assessed value minus any exemption amounts. It is the value used to calculate your property taxes for each taxing unit.

If you believe the market value of your property is incorrect, you have the right to protest that value.  Learn more about the protest process.