Property owners in Freestone County will be receiving appraisal notices in the mail this week that include the appraisal district’s proposed market and taxable values for 2022.
On average, Freestone County properties have increased by roughly 29 percent, said Freestone Central Appraisal District Chief Appraiser Don Awalt.
“The Texas real estate market, and particularly the Freestone County market, is growing as fast as we have ever seen it,” he said. “We have all heard the countless stories about people moving to Texas from other states. This increase in population contributes to a shortage of homes available and to the increase in prices paid for homes.”
Considering that for many people, their home is their largest investment, an increase in market value can be considered a blessing, Awalt said. However, many people equate an increase in market value to mean an equal increase in property taxes, which is not always the case, he added.
“The increase in what a person owes in property taxes is unlikely to be proportional to the increase in home values. First, there is a cap of 10% on the amount the assessed value can go up for properties with a homestead exemption,” he said. “Second, homeowners over the age of 65 and disabled veterans have additional protections. Lastly, caps limit how much additional revenue from property taxes a taxing unit can collect without going to the voters for approval. This will limit the increase in taxes. It has never been more important to have a homestead or other exemptions and the resulting 10% cap in taxable value than it is today.”
According to state law, appraisal districts are to appraise property at its market value, he reminded taxpayers.
“The district is regulated by the State of Texas to make sure we do our jobs fairly and accurately. But, keep in mind, we are not responsible for setting the tax rate,” he concluded. “We follow the law, state regulations, and the reality of real estate market sales when making our value determinations.”
Those who wish to protest their appraised value have until May 18 to file a formal protest with the Appraisal Review Board. Information on the process, and some limited information on values and market trends, is available on the appraisal district website at www.freestonecad.org under the Appraisal Review Board (ARB) tab.
Awalt encourages protesters to informally discuss values with an appraiser by calling FCAD, as the staff wants to answer as many questions as possible before the end of the 30-day deadline to file a formal protest. However, he encourages patience when calling the district as the number of inquiries is expected to be high this year.
“Not all staff members are licensed to discuss values, and sometimes it isn’t possible to get back with everyone quickly,” he said. “If a caller has already filed a formal protest with the ARB, there isn’t any need to call – we need to concentrate on the people who have not made that decision yet before the deadline.”
ARB protest hearings start in June.
