Austin/ Real Estate & Development
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Published on April 12, 2024
Travis County Property Owners to Receive 2024 Appraisal Notices Amid Market FluctuationsSource: Unsplash / Jeremy Doddridge

Property owners in Travis County should keep an eye on their mailboxes, as the Travis Central Appraisal District (TCAD) is dispatching appraisal notices that will determine their share of the local property tax burden. According to KXAN, over 424,000 notices are underway, heralding a 5.8% increase in the overall appraisal roll to $488 billion.

Making sense of the new values, the 2024 median market value for residential property is pegged at $551,419, while the median taxable value rests at $401,806. TCAD notes that there's been a downturn in market values for single-family homes by 7 percent on average. Yet, these fluctuations in market values aren't direct indicators of upcoming property tax bills, as they serve merely to calculate each property owner’s portion of the total tax levy imposed by local governmental bodies.

Chief Appraiser Leana Mann has signaled the importance of understanding exemptions and the protest process during this period. "Property owners will be receiving their 2024 Notices of Appraised Value over the next few weeks. This is the perfect time to check on your exemptions and learn more about the protest process," Mann stated in the press release obtained by Travis Central Appraisal District's official website.

Anyone questioning their property’s valuation has until May 15 to protest with TCAD, or 30 days following the mailing of the notice, if later. The appraisal district is urging property owners to file protests via their online portal, where they can also upload evidence and participate in hearings. Those preferring the traditional route can submit their grievances by mail or in person at the TCAD office.

In an effort to streamline the process, TCAD is extending a digital olive branch to taxpayers. "This year property owners will be able to complete the entire protest process online without the need to come to our office," added Mann. From April 16, aggrieved parties can enter into informal discussions with appraisers, while formal cases will be heard by the Travis Appraisal Review Board starting in June. For those who need to brush up on the process, TCAD plans to run a webinar on May 1 at 11:30 a.m., with registration details available on their website.

Austin-Real Estate & Development