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By Dave Rogers
For The Record 

OC values rise, but not like some

 

Last updated 4/26/2022 at 9:34am

The good news for Orange County taxpayers is likely not arriving in the Notices of Appraised Values mailed out Tuesday, April 26.

"We are seeing average increases in overall values here in Orange County between 9% and 14% since last year," Scott Overton, Chief Appraiser for the Orange County Appraisal District, said Monday.

But here are several spoonfuls of sugar to help the hike in values easier to swallow.

1: It could be a lot worse. According to a release by the Texas Association of Appraisal Districts, some regions around the state have seen increases in values between 20% to 50% since last year.

If you haven't heard, Texas is growing at a double-digit pace and the real estate market is going nuts.

2: Tuesday's notices are the first step in determining a homeowner's local tax bill. But the increase in what a person owes in property taxes is unlikely to be proportional to the increase in home values.

3: The release reminds there is a cap of 10% on the amount the assessed value can go up for properties with a homestead exemption, and caps limit how much additional revenue a taxing unit can collect from property taxes without going to the voters for approval.

4: Two state constitutional amendments up for vote along with local city and school races in the May 7 election (early voting runs through May 3) should lower taxpayers' school tax burdens.

One raises the homestead exemption for school district taxes from 25% to 40%, which lawmakers say should provide a $175 annual tax reduction for a typical homeowner.

The second supports lowering school taxes year after year for people who are disabled or over 65 and have their property taxes frozen. State funding for school districts is increasing and picking up the difference.

5: Tax values may be appealed annually. Overton notes that Orange County property owners have until May 31 to protest their 2022 values.

The protest can be filed via the Appraisal District website at orangecad.net and information on how to file a protest is also available there. You can also file a protest by mail (P.O. Box 457, 9157 Interstate 10 East, Orange, TX 77630) or in person.

 

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