Dallas County expects a record number of tax appraisal protests this year as the red-hot real estate market drives up the value of homes and businesses.
Higher property values will be a boon for cities, the county and school and hospital taxing districts, but they’re creating additional financial pressure on Dallas taxpayers.
Texas law mandates Dallas County appraise residential properties between 95% to 100% of market value. Those 90% of homes being reappraised this year have fallen out of that bracket, Nolan said. Nolan acknowledged that many Texans are growing dissatisfied with the state’s market-value appraisal system, but still called it the “best system in the United States.”“Properties in South Dallas just a few years ago for a couple thousand dollars are million-dollar properties. … And that’s really ‘market?’ ” Price said.
The county’s current $1.6 billion budget is funded in part by a tax rate of 22.8 cents per $100 of assessed property value, down from 23.9 cents the previous year.
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