San Marcos Mercury | Local News from San Marcos and Hays County, Texas

April 26th, 2010
County gains property value, but home values are down

STAFF REPORT

Commercial property values in the last year are up across Hays County, but home values are down, according to preliminary figures released week by the Hays County Appraisal District (CAD).

The county’s preliminary market value is $14.26 billion this year, up 1.71 percent from $14 billion in 2009. Countywide, commercial and industrial property increased in value by 6 percent, from $1.27 billion in 2009 to $1.35 billion this year. Residential multi-family property increased 5.30 percent, from $510 million in 2009 to $537 million in 2010.

The total value of vacant platted tracts increased by approximately 13 percent after the CAD added 1,252 vacant platted lots to the appraisal roll for 2010. The increase was due to new subdivisions and re-plats added to the appraisal roll.

However, the average home value in Hays County decreased about 1.70 percent to $162,724 in 2010. The largest drop occured in the Dripping Springs ISD, where values fell 2.79 percent to an average of $267,899. Only in the Wimberley ISD did property values so much as remain flat. The average home appraisal in the Wimberley school district remains at $193,089.

The average home value in the the San Marcos CISD fell 0.9 percent to $128,779, while the average home value in the San Marcos city limits fell 0.5 percent to $118,790.

In the Hays CISD, the average home value decreased about 2.12 percent to $131,136. Included in the Hays CISD is a decrease of 3.67 percent to an average home value of $127,305 in the Kyle city limits, and a decrease of 0.6 percent to an average of $158,876 in Buda.

The appraisal district will begin mailing 78,410 property appraisal notices on April 30. Property owners receiving notices of appraised value will have until June 1 to file a protests to appeal to the CAD review board. Property owners can file protests at the CAD office, located at 21001 North Interstate-35, Kyle, Texas 78640. The CAD phone number is (512) 268-2522.

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