Notes taken at the HCAD Board of Director’s Meeting on Wednesday 3/19/2014 regarding property tax assessment increases:

 

HCAD Property Value Increases – Residential properties – Expect huge increases across the board

  • Below $80K – 35% of properties to be increased
  • $80k-$149k – 78.8% of properties to be increased
  • $150k-$249k – 90.7% of properties to be increased
  • $250k-499k – 94.0% of properties to be increased
  • $500k-$999k – 95.6% of properties to be increased
  • Over 1 Million – 94.4% of properties to be increased

HCAD Valuation Stats – Residential properties

  • 2.6 month inventory
  • Sales Volume increase of 17.4% over last year
  • Foreclosures represent 6.5% of total sales activity
  • 2012: 164,500 Median Sales Price
  • 2013: 180,000 Median Sales Price

2013 – 30% of residential property assessments increased

2014 – 80% of residential property assessments to be increased

Note: The above notes were recorded at the HCAD Board of Director’s meeting on 3/19/2014 and are deemed to be correct but could contain inaccuracies.  All data is subject to change.

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