2022 Property Tax Valuations

Dated: May 18 2022

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Photo by Jon Tyson on Unsplash

Letters from the Tom Green County Appraisal District have surprised some homeowners with larger-than-usual increases in their property valuations this year. Why are we seeing these increases? 

 

The Texas Tax Code Section 23.01 requires that in most cases, all taxable property must be appraised at market value in accordance with the Uniform Standards of Professional Appraisal Practice.

 

The Tom Green County Appraisal District says on its website that it must repeat the appraisal process for each property in the county at least once every three years. However, homes may be appraised as often as every year if the market is active. 

 

We have had a very active market in San Angelo, particularly since 2020, and some owners are now seeing larger home valuation increases. There is a 10% cap on the increase in home valuation for homeowners who qualify for the Homestead exemption, but rental properties and other circumstances would not be subject to that cap. 

 

The good news is the local taxing units - county, city and school district - also have limits on growth. This is where exemptions and tax rates – which determine the amount a homeowner owes – come into play. Further, the Texas Legislature allows taxpayers to attend the public hearings in which the tax rates are proposed and adopted. Property owner rights are further discussed on this website: https://tomgreen.countytaxrates.com/tax


If you would like to discuss the real estate market in San Angelo and the surrounding areas, or if you are considering buying or selling property, our experienced agents can help. Reach an agent by phone at (325) 481-0500, or contact any agent directly from our agent roster.

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