Home values continue to skyrocket

Thu, 04/18/2019 - 12:07pm

By Dalton Sweat, General Manager

"These increases were due to strong demand for residential and commercial sites, multi-family student housing and completion of new construction."

Home values in Dripping Springs continue to skyrocket as the Hays Central Appraisal District released new preliminary appraised values for 2019. Properties within Dripping Springs ISD’s jurisdiction increased 8.2 percent for an average increase of $33,000.

“Dripping Springs is a highly desirable rural location with easy access to metro areas, making it an ideal place to live and for recreation,” Lauren Raven, chief appraiser for Hays CAD, said.

Overall, there were 614 new residential improvements made within the DSISD jurisdiction. The amount of commercial increase has not yet been released.

The increase in appraisal value was apparent across the entirety of Hays County.

Hays County’s overall preliminary 2019 market value rose to a little more than $30.03 billion this year, up 15.7% from $25.95 billion in 2018. Commercial and industrial property increased in value by 22.68%, up from $2.38 billion in 2018 to $2.92 billion this year.

Vacant lots/tracts saw the biggest increase in value by 47% from $607 million to $895 million followed by residential multi family property with an increase in value by 38.85%, from $1.6 billion to $2.3 billion this year. These increases were due to strong demand for residential and commercial sites, multi-family student housing and completion of new construction.

Hays County added 2,749 new homes and 87 new commercial buildings to the appraisal roll for 2019. Total new improvements added more than $812 million to the taxable value for 2019. Across Hays County, the average market value of homes increased by 9%.

“The I-35 corridor and proximity to TX-130 and State Highway 45 makes travel from Hays County to business markets convenient for new buyers who don’t mind commuting,” Raven said. “High markets in Austin/Travis County have property owners searching for more affordable housing in Hays County, this demand drives up values.”

A press release from Hays CAD also highlights the fact that appraised values do not necessarily increase the amount of taxes an individual will pay.

“How this year’s appraisals effect Hays County homeowners’ tax bills remains to be seen. The county, cities, school districts and other taxing units will use the appraisal district’s values to set 2019 property tax rates and determine the amount of taxes property owners will owe. Last year Hays CAD received 18,331 protests.”

Hays Central Appraisal District will begin mailing out 94,987 appraisal notices April 15. Property owners that receive a notice of appraised value will have until May 15 to file an appeal with the Appraisal Review Board. Property owners can file a protest in person at the Hays Central Appraisal District office, located at 21001 N. IH 35, Kyle, Texas 78640, online on our website at www.hayscad.com, by email sent to [email protected] or can contact our office at [email protected].

2018 2019 2018 2019

Mkt Val Mkt Val TaxVal TaxVal

HaysCounty $243,463 $265,483 $226,146 $249,128

HaysCISD $205,971 $222,360 $182,240 $201,964

SanMarCISD $184,602 $206,830 $164,100 $187,194

DSISD $389,001 $421,186 $361,618 $395,725

Wim ISD $270,942 $298,581 $244,915 $273,518

CityofSanMar $183,464 $206,588 $175,257 $198,810

CityofKyle $195,403 $208,458 $188,264 $201,538

CityofBuda $254,512 $267,458 $240,576 $253,936