As the leading property tax firm in Travis County, Texas Protax is privy to pertinent information that can significantly impact property owners. We believe that it is important to keep our clients, and taxpayers generally, up to date on these developments so they may better understand potential impacts and plan for them accordingly.
Most recently, at Travis Central Appraisal District’s Board of Directors meeting, it became apparent that TCAD is intending to, in most parts of Travis County, roll values.
What is a “Rolled Value”?
Most years the appraisal district calculates a new value for every property in the county. In the prior decade, this meant an increase in your home’s value and subsequent tax liability. A rolled value occurs when the county appraisal district elects not to reappraise or increase your property value. This inaction allows the prior year’s value to be “rolled” over to the current year, eliminating any annual increase in market value.
How Rolled Values Can Affect Property Owners
At first blush, rolling values may appear an ideal scenario for the property owner, and this is what the appraisal district wants you to believe. It is the appraisal districts’ belief that by rolling property values from the prior year owners will be less inclined to protest.
It is important to remember though, the fact that the value did not change does not mean the value is correct. In 2022, the Travis Central Appraisal District (TCAD) increased property values in increments that had never been seen before. Data analysis confirmed TCAD overshot the actual market by an alarming margin. Texas Protax was successful in reducing property values for our clients to a more accurate representation of the actual market. In 2023 our preliminary analysis indicates that values may have decreased since last year.
If your property received a reduction in 2022, a rolled value may not reflect this current market downturn. Property owners who did not protest last year, or did not receive an appropriate reduction, will have values rolled a level that may be too high in regards to the current market.
Do you still have questions about property taxes? Texas Protax serves the Austin and Houston areas. We have been successful in achieving reductions for over 70 percent of our clients! Contact our office today to learn how we help owners appeal their property values and obtain the greatest reductions possible. Click Here to contact us.