If you follow the housing market, 2022 Tarrant property appraisals won’t surprise you
READ MORE
Tarrant County’s skyrocketing property values
Tarrant County’s property appraisals are going up. What to know about your property value and how it affects your tax bill.
Expand All
Last year was an unprecedented one for Tarrant County’s housing market, and this spring’s property tax appraisals reflect that.
Thanks to high demand, low housing inventory and soaring costs of land and lumber, home prices surged — making it harder to find a new home or pay taxes on the one you already have.
Throughout 2021 — the time period reflected in your 2022 appraisal — the median home price in Tarrant County jumped 22% from $270,000 to $330,000, according to the Greater Fort Worth Association of Realtors.
Residential property appraisals closely matched this data.
This year, Tarrant Appraisal District appraised 636,366 residential property accounts and 43,127 commercial property accounts.
On average, residential property accounts rose in value by 20%. Commercial accounts rose in value by an average of 34%.
Of the residential property accounts, 547,454 accounts or 86% rose in value; 34,906 accounts or 5.5% decreased in value; 54,006 accounts or 8.5% remained the same.
Of the commercial property accounts, 22,062 accounts or 51.2% rose in value; 567 accounts or 1.3% decreased in value; 20,498 accounts or 47.5% remained the same.
Property owners had until May 16 to protest their appraisals. The appeals process will take place this summer with the final value certification at the end of July.
Appraisals are just the first step in the taxing process.
Once properties are appraised, taxing entities like school districts and local governments set the tax rates based on the amount of taxable property in the community.
You can expect to receive your property tax bill on Oct. 1.
This story was originally published May 20, 2022 at 7:00 AM.
