Home values up 50% over last year

Over 110,000 Hays County property owners will be receiving appraisal notices within the coming weeks. Most will notice a significant jump in property values.

The Hays Central Appraisal District released this year’s numbers on Thursday, April 14. Thanks to high demand and limited real estate inventory, the overall market value of Hays County’s 2022 preliminary appraisal roll rose to $58.86 billion, up 53.27% from $38.41 billion in 2021. Commercial and industrial real property values increased by 40.86% to $5.05 billion, and residential multi-family property grew by 47.20% to $3.66 billion.

The increase in property values solidified what most already knew to be a seller’s market in Hays County — especially in Dripping Springs. Within the boundaries of Dripping Springs Independent School District, the average residential market value increased by 47% to $749,287. This was the highest average home value in the county.

While higher property values may be beneficial for those looking to sell in the near future, they often prove worrisome for home and business owners dealing with the resulting tax increase. The residential taxable value for Dripping Springs ISD increased by just over 50% with an average taxable value of $719,026.

Property owners have a month to appeal actions concerning their property appraisals before the deadline on May 18. An appeal can be filed online at hayscad.com, by email to [email protected] or by mail to 21001 N. IH 35, Kyle, Texas 78640. There is also a drop box at the district office (address listed above).