Published: 05-28-08
Appraised Value Increases for 2007 Still on Appeal with the State of Texas
HOUSTON – May 27 2008 – Today Harris County Tax Assessor-Collector Paul Bettencourt released a countywide color coded map based on HCAD’s 2008 pre-protest noticed market values showing an average 34 increase in commercial property appraised values for 2007-2008. The map of average market value change by zip code for commercial properties is posted at www.hctax.net for public review. Ten zip codes have an average increase above 50; only one zip code shows a decline.
“Commercial property appraisals are growing faster than Houston’s skyline” said Bettencourt. “This 34 appraisal value increase for 2008 before protest hearings represents an increase in the average appraised value per commercial property account from $980986 to $1316452 in just one year” Bettencourt added.
Each year the Comptroller’s office conducts a property value ratio study of appraised values in Harris County to check local appraised values against a state estimate. Currently Houston ISD Alief ISD Cy-Fair ISD Channelview ISD Pasadena ISD and Aldine ISD have appealed the results of their 2007 Property Tax Division hearings held May 12th in Austin.
The State Comptroller Harris County Tax Office Harris County Appraisal District and the affected ISDs are still involved in a discussion of the proper methodology for determining market value changes with the objective of bringing theses districts into compliance with the State’s estimate. It is anticipated that HISD will fail the study for the third year in a row which could lead to a potential loss of school funding in future years.
“Last year the Chief Appraiser the Comptroller and I signed a joint statement on October 4 2007 regarding the State’s Value Ratio Study and the ISD’s appeals of the State’s funding” said Bettencourt. “The problem is Appraisal Review Board rulings based upon equity comparisons of property are not properly handled by the Property Tax Division’s calculations. We need all parties to use the same methodology” Bettencourt added.
The 34 average countywide increase for commercial property values compares to the 6 average countywide increase in residential home values released May 2 2008 by the Harris County Tax Office also posted at www.hctax.net.
