The recovery is in full force across
Almost every segment of the real estate market is seeing increases, and just about every part of
Overall, assessed property values are up 6.7 percent across
He has advised cities and school districts to assume about a 2 percent drop from the current valuations, though he doesn't expect that significant a drop.
"I can't really tell you how much to expect things to change but I would say this year, things are better than healthy," Law said.
Home prices are also helping drive the increases. Residential values are up 8 percent across the county.
There has been some new construction with the addition of 5,534 residential and 201 commercial accounts.
The gains reflect the pull of the local economy bringing more people to the area,
"Quite frankly, it's an up market and this is reflective of that," Maenius said.
But real estate agent
"The people that have contacted me to protest taxes have recently purchased homes," Puniwai said. "Their appraisals just jumped through the roof. I don't believe the appraisal system is fair. There's just no consistency or balance in the system."
This year, TAD increased the value on about 260,000 existing accounts. Of those, 166,000 had a jump from 5 to 10 percent; 63,000 increased by less than 5 percent; and about 31,000 went up by more than 10 percent.
Among commercial properties, apartments increased 25 percent, office space jumped 20 percent, retail climbed 15 percent and warehouses had a 10 percent increase.
"You just have a lot of retailers that have become active again and DFW is an attractive market to a lot of retailers," Makens said.
Among apartment complexes, the higher-end properties -- those that are considered Class A and
"For investors, it has become a lucrative investment," Law said. "A lot of apartment complexes are selling; values are going up. We're seeing a lot of increases across the whole county, particularly in Class A properties."
There was also a big increase in mineral interest accounts, from 404,000 to 719,000. The overall value increased by
The preliminary TAD appraisals are important to local governments because they use these numbers to start building budgets for the next fiscal year. City officials say that the numbers are encouraging and optimistic, but that they are being cautious.
Still, the city's chief financial officer,
"From a historical perspective, where we sit today is much better than where we have sat in prior years. There really isn't even a comparison," Bovos said, but he added that they are "still talking about budget reductions."
He asked each department to come up with a 2.8 percent reduction in their budgets. Based on fiscal year 2014, that is
Last year, the city initially faced a
"I feel very optimistic about the revenue forecast. Does that mean we are throwing caution to the wind? No, it will never mean that for a financial planner," Bovos said.
The city also dangled the potential for 3-5 percent raises for general employees in 2015 if it found
Bovos could not say whether the raises will be included.
"The 2015 budget is still under development and raises are under consideration," Bovis said. "They are part of the goal and part of the financial plan, but we are still working on having all those pieces to be able to solidify what that looks like."
"When we make a decision for 2015, we need to make sure that decision is sustainable for a five-year forecast," he said.
Bovos said the city's approach toward the fiscal 2015 budget is "a little more comprehensive than what I know
He said the recommended budget will be presented to the
"Our tax base is on track with what we expected," Finley said.
The number of accounts in
"You're taking a small area where a lot of homes have been built," Law said. "A lot of that was vacant land and now it's homes and other new stuff. They're adding things out there all of the time."
For some smaller communities, the impact of new businesses can be significant.
"Amazon -- that pretty much says it all," said
The arrival of Amazon is another sign of growth in far northern
The city issued construction permits for 189 single-family homes last year and had new commercial redevelopment along
"It's a positive and welcome sign for our local economy and we are hopeful that we are finally returning to a pattern of slow and steady positive growth," Bostic said.
Red-hot housing market
In some parts of
"I've got one that everybody just walked through," said Bailey, who had more showings scheduled that day.
"I think inside the loop [locations within
Last month, a real estate investment trust with an
By the time the buyer closed on Bailey's listing, a "for lease" sign was already up in front of the neighboring house.
A few areas have seen more modest gains, including
"Some of these smaller towns don't have the land mass to bring in new industry or have the available land for new housing," Maenius said.
Protest deadline approaches
Time is running out to file a protest.
"If you're thinking about protesting, I would go ahead and file a protest," Law said. "That way you are protecting your right to protest. You can always drop the protest later if you choose to do so."
Once a protest is filed, residents can also call the appraisal district and talk to an appraiser about dropping their valuation, but Law warns that values are going up in most areas.
"Right now, the data supports that values are up," Law said. "We may not necessarily lower a value but it doesn't hurt to talk to an appraiser."
Some taxpayers have complained that appearing before the appraisal review board can be daunting.
Law said property owners need to do their homework before coming before the review board.
"It shouldn't be an intimidating process, but they do need to come prepared," Law said. "If they think their value is too high, they may need to talk to a real estate agent. Look at listing prices and advertisements. Also, bring in photographs. There may be something we don't know about your property. We may not know it only has one bathroom instead of two. That's the kind of thing that can lower your value."
But homeowners need to accept that values are currently on the increase.
"Right now, I think there's a huge demand for residential properties and the supply is simply not there."
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