More than 2,000 new homes and 49 new commercial structures has led to the rise in preliminary market value of property in the county, according to a Hays County press release.
The preliminary market value of the average household in Hays County rose by 10 percent from 2016 to 2017.
Overall, the county’s market value went from $21.32 billion to $23.46 billion in a year’s time.
Commercial and industrial property values rose by 10.45 percent during the course of the last calendar year, according to the release.
Meanwhile, residential multi-family property values in the county continued to see double-digit increases, as value rose by 14.07 percent, from $2.01 billion in 2016 to $2.22 billion in 2017.
Total new improvements added more than $637 million to the taxable value for 2017, with the average market value for homes increasing by nine percent.
Market values in Buda rose by roughly eight percent from last year, while Kyle’s market values rose close to 10 percent.
The city of San Marcos saw the highest jump in market values with an 11 percent increase from 2016.
The Hays Central Appraisal District has started to mail out 86,122 appraisal notices on May 1. Property owners that receive a notice of appraised value have until May 31 to file a protest to appeal.
Last year the CAD received 11,523 protests.
It’s unknown at this time how the appraisals could affect Hays County homeowners’ tax bills, as the county, cities and school districts will use them to determine 2017 property tax rates, according to the release.
Property owners can file a protest at the Hays Central Appraisal District office, located at 21001 N. IH 35, Kyle, Texas 78640, call (512) 268-2522 or visit www.hayscad.com.