May 12th, 2008
Appraised property values up more than $1 billion

STAFF REPORTS

The appraised market value of property in Hays County grew more than a billion dollars since last year with preliminary numbers coming in at $13.22 billion compared to $11.63 billion in 2007, the Hays Central Appraisal district has announced.

Residential multi-family property, county wide, increased 5.31%, from $471 million in 2007 to $496 million in 2008.

The total value of vacant platted tracts increased by approximately 23% this year. This increase was fueled by strong residential, commercial and industrial growth. The average home value increased about 8.8% county wide, to $174,330 from $160,250 in 2007.

All of Hays County’s residential single-family properties are valued at $6.75 billion, up 13% from the year before.

• The average home value in the Dripping Springs ISD increased about 9.5% to $291,370 for 2008.
  
• The average home value in the Hays CISD increased about 6% to $144,400 for 2008.
  
• The average home value in the City of Kyle increased about 3 to 4% to $137,425 for 2008.
  
• The average home value in the City of San Marcos increased about 5 to 6% to $121,960 for 2008.
  
• The average home value in the San Marcos CISD is $135,176 for 2008.
  
• The average home value in the Wimberley ISD increased about 9% to $198,737 for 2008.

Hays County remains one of the strongest real estate markets in Texas. The appraisal district will mail 69,920 notices of preliminary appraised value on May 9, 2008.

Property owners that receive a notice of appraised value will have until June 9, 2008 to file a protest or appeal to the Appraisal Review Board. Property owners can file a protest at the Hays Central Appraisal District office, located at 21001 N. IH 35, Kyle, Texas 78640, or call (512) 268-2522 for information.