Here’s a Spring present for all you homeowners. As usual, the Dallas Central Appraisal District (DCAD) is lagging the market. Just as real estate values and activity are increasing, The Dallas Central Appraisal District has announced that sixty percent (60%) of homeowners will see a decrease in their taxable property value this year – YEAH! That means that most of us will be receiving a decrease in our property tax bill for 2010. Enjoy the break – I believe it will reverse next year!!
The Dallas Central Appraisal District also stated that approximately twenty percent (20%) of home values will rise. I suspect a number of these are homes which had permitted improvements accomplished over the last year, or are recent sales of previously undervalued real estate. The final twenty percent (20%) of values will remain constant.
That’s a fairly substantial move for the Appraisal Distict to have made, adjusting the values of about eighty percent (80%) of the homes in Dallas County.
For a complete report on this issue, please see the Dallas Morning News article.