Residential values up again

Karen McCord opened Friday's presentation on 2009 appraisal values by displaying a comic featuring a dead Snoopy-like character holding onto a property tax bill.

"There's good news and there's bad news," the chief appraiser for the Ector County Appraisal District said. "It just depends on whether you're on the giving or receiving end of property taxes."

Paul Jennings, assistant chief appraiser, said appraisals determined that residential property values in Ector County increased an estimated 5 to 15 percent as of Jan. 1, 2009, the date on which properties are valued. The rate of increase varies based on the area and neighborhood the property is in.

Commercial properties will see an estimated increase of around 6 percent when notices are sent out over the next two weeks, Jennings said.

But the county should still see an overall decrease in its tax base because of 25 percent decline in the value of mineral properties. Jennings said this was due to the state comptroller's office changing from basing values on oil from $96.27 a barrel in 2008 to $35.99 in 2009.

"That's lots of millions of dollars that could be on the appraisal role," he said.

Though the increase in Odessa property tax values was less than its nation-leading jump of 19.08 percent during 2007 or 18.03 percent increases in 2006, McCord was still surprised to see such an increase despite a slowdown in the oil industry.

"I kind of thought it had slowed down," she said. "I know houses were still selling for more than they did, but I didn't anticipate it would be as high as 15 percent."

In Midland County, homes should see a 5 to 8 percent increase in appraised values, while commercial properties will increase between 10 and 15 percent in value, said Jerry Bundick, chief appraiser there.

Both appraisers said residents should check to see what exemptions they are eligible for particularly the homestead exemption, which prevents increases of more than 10 percent a year for taxation purposes on primary residences.

Residents have until May 31 to file a protest on their appraisals.

"Karen and I encourage you to come and talk to us," Bundick said. "We're more than accessible."

Taxing entities, like school districts and city and county governments, will set property tax rates later this year.

Concerned about your appraised value?

>> Visit the Ector County Appraisal District at 1301 E. 8th St.

>> Call: 332-6834.