FOR IMMEDIATE RELEASE | April 14, 2023
Travis Central Appraisal District
2023 APPRAISAL NOTICES ON THEIR WAY TO TRAVIS COUNTY PROPERTY OWNERS
AUSTIN, Texas – Notices of Appraised Value for the 2023 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 (traviscad.org) in the coming days.
Appraisal notices are being mailed out to 434,362 Travis County property owners beginning this week. The notices, which will be mailed out between mid-April and early May, 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, “Notices of Appraised Value will be mailed out to Travis County property owners over the next few weeks. In addition to reviewing their market values, property owners are encouraged to verify their exemptions and learn more about the protest process.”
Overall, the Travis County appraisal roll increased 13% to $485 billion, led by a strong performance in the industrial, retail, multifamily, and hotel sectors. According to this year’s values, 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.
“The data tells us that the local housing market is stabilizing and returning to a pre-pandemic normal,” added Crigler. “But the retail, hotel, multifamily, and industrial sectors continue to see strong growth.”
A Texas Comptroller of Public Accounts review of 2022 market values found that TCAD’s values were within the legally required 5% margin of error for accuracy.
Changes in market values do not translate directly into changes 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 15 or 30 days after a notice has been mailed, whichever is later. 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 in-person at 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 17 and end June 30. During that time, property owners will have the opportunity to discuss their property with a TCAD appraiser and potentially resolve their protest.
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 2023.
“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,” added Crigler. “Submitting your protest early will give you more time to submit your evidence, schedule an informal meeting, and resolve your protest.”
TCAD will be hosting a webinar on the 2023 protest process Wednesday, May 3 at 11:30 a.m. Registration is available at traviscad.org/webinars.
Property owners can find more information on market values and the protest process on TCAD’s website at 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 traviscad.org