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

San Marcos homes increased in value by an average of about 5.9 percent, less than a 7 percent increase expected countywide 

STAFF REPORT

Driven by new construction — including an unremitting apartment boom in cities along the Interstate 35 corridor — the market value of property in Hays County increased by an unprecedented $1.4 billion in the past year, according to preliminary appraisal figures released on Tuesday by the Hays Central Appraisal District.

Private property values — residential, commercial and everything else — collectively increased 8.9 percent, from $15.7 billion in 2013 to a projected $17.1 billion in 2014, Chief Appraiser David Valle said. Real estate development and redevelopment — 1,794 new single-family homes and 60 new commercial buildings — accounts for about 40 percent of anticipated increases, roughly $550 million, Valle said.

New apartments hitting tax rolls this year helped push the countywide value of multi-family properties above $1 billion for the first time, up from $805 million a year ago. In addition, with generally robust occupancy rates resulting in virtual across-the-board increases in the appraised values of existing apartments, the multi-family real estate sector saw a 32 percent jump in preliminary valuations, by far the largest relative increase of any property type.


For MercuryPro members only

Read the full story + see average home value increases by city and school district. Join MercuryPro today. Click here.



Email Email | Print Print


--

4 thoughts on “Hays County property values increase by jaw-dropping $1.4 billion

  1. If I didn’t know better, I’d say San Marcos was being left in the dust.

    So much for the transformative effect of all those developments we’ve approved in and around the single family neighborhoods.

    The good news, I suppose, is that we are still an affordable place for people to buy homes – people who “should have known better,” that is.

  2. I don’t see where we’re left in the dust. Seems like all good news to me. We added considerable tax base without increasing my tax bill all that much. More money for the schools, county, city etc. Hopefully that means we can afford some stuff we need without raising the rate. Now if commercial properties were assessed at anywhere close to their actual market value we’d have the tax money for sure.

  3. Our property values have hardly budged in a decade or more. While I appreciate paying the same taxes I did when we bought our house in 2001, that’s a pretty clear indicator of an economy going nowhere.

  4. The biggest loss is not commercial properties that are under-assessed, but so-called “agricultural” land that is really a suburban homestead with a few cows. Nobody thinks these small parcels are really farms.

Leave a Reply

Your email address will not be published. Required fields are marked *

:)