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Property Values on the Rise

By: Lindsay Liepman
By: Lindsay Liepman

It's simple math, but the result could mean higher taxes for property owners.

Brazos County's Appraisal District has finished it's annual assessment and property values have increased over a billion dollars.

How much is your home worth?

The answer's in the mail.

The Brazos County Appraisal District says area property values are up over a billion dollars.

College Station, alone, has a 14.4 percent increase over last year.

The numbers create a balancing act for city hall when it's time to set the tax rate.

"If you're overall property values increase then the tax rate that it would take to bring in the same revenue would be lower than what it was the previous year," said Jeff Kersten.

Kersten is talking about the effective tax rate.

He's College Station's Director of Finance.

And says when property values were up last year, the council still raised the tax rate, but not as high as it could have.

"They'll understand what the effective tax rate is and what the choices are from there and the impact of those choices is what we try to provide to the city council so they can make the best choices possible," said Kersten.

The growth is good for the cities but for individual homeowners it can be good or bad, especially if they're selling a home.

"It's important because the quality, the fairness, the accuracy of that appraisal will ultimately effect the tax liability," said Danny Singletary, Deputy Chief Appraiser.

That's why you get a chance to double-check the appraisal.

Until the end of the month you can protest the value of your home or property.

But you may not need to.

Just sitting down with an appraiser can help change any errors -- and maybe change the bottom line for everyone.

The deadline to protest your appraisal is June 30th and hearings will begin next month.

Then final numbers will be sent to local governments so they can assess the tax rate.

Overall:

Brazos County $6.7 billion in 2004, $7.7 billion in 2005

Bryan ISD $3.1 billion in 2004, $3.5 billion in 2005

CS ISD $3.6 billion in 2004, $4.2 billion in 2005

Bryan $2.5 billion in 2004, $2.8 billion in 2005

CS $3.3 billion in 2004, $3.8 billion in 2005


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