FOR IMMEDIATE RELEASE | April 14, 2022
Travis Central Appraisal District
2022 APPRAISAL NOTICES ON THEIR WAY TO TRAVIS COUNTY PROPERTY OWNERS
Deadline to file protests is Monday, May 16
AUSTIN, Texas – Notices of Appraised Value for the 2022 tax year are on their way to Travis County property owners and updated market values will be posted on the Travis Central Appraisal District website (www.traviscad.org) in the coming days.
Appraisal notices are being mailed out to 400,578 Travis County property owners beginning this week. The notices include the market value assigned to a property as of Jan. 1 and the taxable value of that property based on its exemptions.
According to Chief Appraiser Marya Crigler, “Travis County property owners can expect their Notices of Appraised Value to arrive in their mailboxes as early as this week. In addition to reviewing their market values, Travis County property owners are encouraged to check their exemption status and learn more about the protest process.”
Overall, the Travis County appraisal roll increased 43% to $447 billion, led by a 56% increase in residential properties, 54% increase in commercial properties, and more than $5.8 billion in new construction. According to this year’s values, the 2022 median market value for a residential property in Travis County is $632,208 and the median taxable value of a residential property is $338,344.
Reviews by the Texas Comptroller of Public Accounts have found that TCAD’s market values in recent years have been too low, particularly in areas of western Travis County. This review, known as the Property Value Study, is conducted every two years and impacts local school district funding. Appraisal districts are required by law to appraise property at 100% of market value as of Jan. 1 of the year.
“The data tells a clear story. The local housing market continues to see rising property values due to high demand and low supply,” added Crigler. “But increases in market values should not cause panic about future tax bills. Property owners with a homestead exemption still benefit from a 10% cap on the increase of their taxable value.”
Increases in market values do not translate directly into increases in property tax bills. Instead, assessed values are used to determine a property owner’s portion of the total tax levy. The total tax levy is determined by the budgets set by local taxing entities such as cities, counties, and school districts.
Property owners who believe their property’s market value is incorrect have the right to file a protest with the appraisal district. The deadline to file a protest is May 16. Travis County property owners are strongly encouraged to file their protests online through the TCAD online portal. Property owners who file via the portal can upload their evidence, review the appraisal district’s evidence, and review a settlement offer through their online account. Protests and evidence will also be accepted by mail and through the drop box located outside the TCAD office (850 East Anderson Lane).
The informal process, which allows property owners to receive a settlement offer from the appraisal district, will begin April 18 and end June 30. During that time, property owners will have the opportunity to discuss their property with a TCAD appraiser. Property owners will be given 3-5 days from the time their protest has been filed and processed to schedule themselves before TCAD assigns them a date and time for an informal meeting.
Property owners who do not accept a settlement offer during the informal process will have the opportunity to present their case to the Travis Appraisal Review Board (ARB), an independent group of citizens authorized to resolve disputes between taxpayers and the appraisal district. ARB hearings are expected to begin in June 2022.
Added Crigler, “We expect this to be the busiest protest season we have ever had. Property owners should get their protests filed early to have the most opportunity to discuss their property with our appraisers.”
TCAD will be hosting a webinar on the 2022 protest process Wednesday, April 27 at 11:30 a.m. Registration is available at www.traviscad.org/webinars.
Property owners can find more information on market values and the protest process on TCAD’s website at www.traviscad.org.
About the Travis Central Appraisal District
The mission of Travis Central Appraisal District, in accordance with the Texas Constitution and the laws of the state, is to provide accurate appraisal of all property in Travis County at one hundred percent market value, equally and uniformly, in a professional, ethical, economical, and courteous manner, working to ensure that each taxpayer pays only their fair share of the property tax burden. For more information, please visit www.traviscad.org.