What property is appraised?
Land
Structures (also called “improvements”)
Personal property (FOR BUSINESSES ONLY)
What gives value to land?
Size (Price per acre or square foot)
Land use (residential, business, industry, farming, ranching, wildlife)
Utility improvements (water, sewer, electric)
View (water or hill country)
Waterfront
Highway frontage
Business centers
Popular neighborhoods (supply and demand)
What gives value to structures?
Structures like your home are also called
“improvements” and add value to the land
Includes business buildings, houses, strip centers, shopping malls,
sports facilities, mobile homes, sheds, barns, storage facilities,
hunting cabins, and everything with an overhead roof
Improvements also include race tracks, pools, tennis courts, parking
lots, decks, docks, skeet ranges,
Does not include moveable property like motor homes and travel
trailers unless used for business
What is business personal property?
Furniture, fixtures, and equipment needed for operating the business
Includes desks, computers, chairs, furniture, printers, copy machines,
bookshelves, shop tools, work benches, company vehicles
Parking lot lighting, business signage, asphalt or concrete parking
lots
Leased equipment used by businesses in the county is appraised in
the name of the owner of the equipment
Valuing Property
Property valued by county appraisal district
There are three approaches to valuing property
Market (property compared to similar property sales prices)
Cost (what did it cost to build?)
Income (used for investment property)
Homeowners Exemption limits value increases to 10% per year
How is your property valued?
Market value is what your property would sell for on January 1st
Your property is compared to recent sales of properties of similar use,
location, construction quality, size, and condition
We research and verify sales in the county and develop a schedule
for each class of property
But if there are no comparable sales…
We estimate the cost to build the structure at today’s costs and then
depreciate the structure to the condition it is in today
How is your property valued?
The cost approach is used if we do not have comparable sales for
your property
We estimate the cost per square foot to replace the improvements
with improvements of equal utility.
If the property is not new then depreciation is estimated and
subtracted from the replacement cost value
How is your property valued?
The income approach is used for investment property which
generates rental income. Examples include apartments, hotels
Special agriculture appraisals are based on the income approach
“What would an investor pay in anticipation of income from the
property?”
This approach converts the future income into a value
Special Agriculture Appraisal
(the Ag Exemption)
The Ag Valuation (sometimes incorrectly referred to as an
ag exemption) is a special income type appraisal
It is based on land productivity with allowances for certain costs
Productivity is based on soil quality, crop or livestock produced, and
acreage in productive use
Production level of intensity must meet county standards
Must be in productive use for 5 out of the past 7 years
Special consideration for drought with written request
Wildlife Management Appraisals
Land used to manage wildlife may qualify for special ag use
appraisal
Land must have previously qualified for the Ag exemption
Wildlife appraisals require
Initial wildlife management plan (available from Texas Parks and
Wildlife)
Annual wildlife management report (Texas Parks and Wildlife
Department)
Agricultural Land That No Longer
Receives An Agricultural Valuation
Land that is no longer receiving the Agricultural Valuation will be
subject to a rollback
This happens when a property changes uses from an agricultural use to
a different use such as developed into a subdivision or into a
commercial use
Also when a property is no longer being used for agricultural or wildlife,
even though it has not been developed can also trigger a rollback
The exception to this will happen if we are in a
drought period when stocking rates are lower or all
livestock has been removed.
What If Your Property Value Rises?
A notice of appraised value will be sent to you to show the increase
in your property value
This notice must be sent by April 1 of each year on residence
homestead and by May 1 on all other properties or as soon
thereafter as possible.
Should you disagree with the value on your notice, you have 30
days from the date on your notice or until May 31 to protest
The notice of appraised value will give instructions on how to file a
protest
What Is A Rendition?
There are two types of renditions. Both are used to report value on
property.
The first type is a real property rendition, which is used to give your
opinion of value on your home and land.
The second type is for business personal property, which is used to
give your opinion of value on any furniture, fixtures or other items
used in your business. This rendition must be filed every year.
Both renditions will identify the location of the property and are due
to the Appraisal District between Jan. 1 and April 15 of each year.