That’s 75% more than the state makes from the lottery. The State of Texas also benefits from property taxes to the tune of over $5.6 billion in a two-year budget cycle. An increase in property taxes is sometimes needed to keep the police and fire departments adequately funded, along with our schools, hospitals, and other vital services for our communities.
These same political subdivisions set the tax rates that determine the amount of taxes paid by homeowners and businesses. In a state without a personal income tax, cities, counties, hospitals, school districts and community colleges all rely heavily on property taxes. We follow the law, state regulations, and the reality of real estate market sales when making our value determinations.” But, keep in mind, we are not responsible for setting the tax rate. In fact, we are regulated by the State of Texas to make sure we do our jobs fairly and accurately. Lankford added, “As a reminder, according to state law, appraisal districts are to appraise property at its market value. This increase in population contributes to a shortage of homes available and to the increase in prices paid for homes.” We have all seen the countless stories about people moving to Texas from other states.
Alvin Lankford, president of the association and chief appraiser of Williamson County said, “The Texas real estate market is growing as fast as we have ever seen it in the state’s history. Texas Association of Appraisal Districts Issues GuidanceĪUSTIN - Today the Texas Association of Appraisal Districts announced historic growth in Texas real estate values.Īccording to the association, regions around the state have seen increases in values between 10-50% since last year. Previous Next Welcome to Howard County Appraisal District!ħ700 Chevy Chase Drive.
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