Grogans Mill Village Association, said his appraisal increased by $80,000. He said he believes better communication is needed from the appraisal districts. “I think the appraisal district could’ve done a much better job in communicating what was happening than they did. I think when an appraised value goes up more than 10%, they should have a note explaining why,” Cunningham said. Adam Perdue, a research economist at the Texas Real Estate Research Center, said the center is expecting the housing market to slow over the next year and prices to decrease. In the Houston area between 2020-21, there was a 21% increase in home prices when typically there is a 5% increase over a two-year span, according to Perdue. Although property values rose, taxing entities are limited to how much they can raise their property tax revenue. Counties and cities are limited to a 3.5% increase and schools to 2.5%, Perdue said. “[Taxing jurisdictions] don’t necessarily need more revenue because the valuation increased,” Perdue said. Seeking relief Homeowners may see relief from homestead exemptions and two statewide propositions approved by voters May 7. Lavine said Proposition 1 amended the exemption for those who are disabled or over age 65, allowing school taxes to decrease for these homeowners instead of being frozen at age 65. Proposition 2 increased the homestead exemption for school taxes from $25,000 to $40,000 o of the appraised value. Local legislators have pitched solutions to provide further taxpayer relief. State Rep. Steve Toth, RWoodlands,
Unsustainable increase The year-over-year percent increase in average market value was in the single digits for all six years in Montgomery County, according to data from the appraisal districts. Belinoski said he was “shocked” by 2022 appraisal values. Locally, the average market value for properties within Conroe ISD boundaries rose 27.4% from 2021-22— following a 9.2% increase overall from 2017-21. It rose 24.8% from 2021-22 within Tomball ISD’s boundaries and 33.3% within Magnolia ISD, according to data from the appraisal districts. Property values are increasing faster than the median incomes across Harris and Montgomery counties, leaving people worried their taxes will increase so much they will be forced out of their homes, state Rep. Cecil Bell, RMagnolia, said in an interview. CISD’s median household income increased 22.57% from 2013-20, according to the American Community Survey ve-year estimates, but the average market value in CISD increased 38.46% during that time. TISD and MISD show the same trend. As such, some homeowners said they are worried about how high their taxes will be this fall. In the Village of Grogans Mill, homeowner Sara Bissig said she owns three houses on one street that each saw its appraisal increase by the same amount regardless of the condition of the houses. “It’s just a bulk assessment they’re doing on the houses; the houses that are very new and updated, I can see where they need to, but my houses are not, so it seems unfair,” Bissig said. She said she does not anticipate protesting the increases and may need to consider increasing rental prices she charges in the future if taxes rise considerably. Bruce Cunningham, the president of
Homeowners in Harris and Montgomery counties may qualify for various exemptions and le for them with the respective appraisal district. School districts and other local taxing units also oer various exemptions. HOMESTEAD EXEMPTIONS BREAKDOWN
RESIDENTIAL: The property owner must own and occupy the home Jan. 1 of the year applying for. It exempts $40,000 for school taxes or up to 20% for any taxing unit. DISABLED PERSON: The property owner must be 100% disabled for at least 12 continuous months. It exempts up to $10,000 of school taxes and freezes the maximum tax amount. AGE 65 OR OLDER: The property owner must be age 65 or older. It exempts up to $10,000 of school taxes and freezes the maximum tax amount.
THE WOODLANDS: The Woodlands Township oers an exemption for over-age-65 and disabled persons of $25,000 each and will discuss additional exemptions in its strategic planning session June 24. SHENANDOAH: The over-age-65 and disabled exemption is set by ordinance at $75,000 from appraised value. City Council tabled further action in May, pending a nancial impact report. OAK RIDGE NORTH: The city’s homestead exemption, established in 1997, is set at what the state allows, 20% of the property’s appraised value but not less than $5,000.
Voters approved a proposition May 7 increasing the residential exemption from $25,000 to $40,000. Voters approved a proposition May 7 allowing the tax amount to be reduced instead of remaining frozen for those disabled or over age 65.
SOURCES: MONTGOMERY CENTRAL APPRAISAL DISTRICT, EVERY TEXAN COMMUNITY IMPACT NEWSPAPER
said he is advocating for doing away with appraisal districts and using a price-paid valuation, which he said 40% of states use in property tax calculations. Homeowners’ taxes would be based on the purchase price of the home. Toth said he expects a hearing on the matter in the 2023 session, which will begin Jan. 10. In addition, Bell said he believes the
chief appraiser of each county should be an elected position. “When you have that much authority, you should be responsible and accountable to the people,” Bell said. Jishnu Nair contributed to this report.
For more information, visit communityimpact.com .
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