According to the Austin American-Statesman, the trend of rising median taxable home prices in Travis County that's been happening for a decade continued into 2019 with the increase pegged at 7.4% according to Travis Chief Appraiser Marya Crigler’s office. In 2018 the increase was over 10%. “The Austin region continues to thrive as it enters its 10th year of positive trends in its real estate and overall economy,” Crigler said.
This week, Crigler’s office will mail about 438,009 appraisal notices to the county’s residential and commercial property owners. The values will be used by city, county, school districts and other local taxing entities to set 2019 property tax bills. About 30% of property owners will receive a postcard in lieu of a notice of appraised value, Crigler said. The postcards are new this year for properties where the value decreased, stayed the same or increased less than $1,000.
Crigler said the past year brought a shift in the market.“For the past several years, we have seen double-digit appreciation across all areas of Travis County,” Crigler said. “However, for 2019 we saw a slight softening of the residential market for most of Travis County. While sales prices are still going up, they are not going up at the same rate as in the past.”
The new appraised values reinforce that East Austin, where rapid residential and commercial development is transforming the landscape, remains one of the hottest areas in the county, Crigler said. East Austin was the only pocket in Travis County with double-digit appreciation of 11% to 12%, Crigler said.
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