You’ve heard this story before, because we’ve reported this story before, but the taxable values for the county, city, school districts and other entities is about to go up.
Way up — between 30-40% for many of them.
Some of those increases are from new growth. Things that were vacant land aren’t vacant land anymore — instead there are homes, restaurants, shops, etc.
Some of those increases are driven by skyrocketing values on our homes and businesses, which will mean bigger tax bills.
There will be critics who will say that the appraisals are out of line with reality — and in some cases that might be accurate — but in most, it’s not.
If you were to put your house on the market at the value assigned, you would likely sell it in a heartbeat.
We’ve done stories on the bidding wars for housing in New Braunfels where people are getting multiple offers that well exceed asking prices.
If you’re selling, it’s great news. As long as you’re taking all that money and going somewhere else.
The appraisal system isn’t broken. The housing market is.
Some of this just comes down to — as one appraisal district official said — supply and demand. We don’t have enough houses. That means those that exist are more valuable.
Investors have also played a role in buying houses that might have otherwise gone to families. But that’s also the market — and money is flowing into places that can reap the most profit. And New Braunfels and Comal County aren’t alone. This is an issue just about everywhere you look. Some places are just hotter than others.
Is this another housing bubble? Researchers with the Dallas Federal Reserve recently reported signs that might point that direction, but until something happens that shifts the trajectory of the market, it’s going to be a costly one to enter — and for taxpayers — a costly one to remain in.
New Braunfels Herald-Zeitung
