Homeowners across North Texas have been getting their property tax appraisals, and they are coming with some sticker shock. Experts say home prices are up 20% over last year while inventory is down 30%.
Homeowners across North Texas have been getting their property tax appraisals, and they are coming with some sticker shock.Experts say home prices are up 20% over last year while inventory is down 30%.Barry "Kooda" Huebner purchased his Oak Cliff home in 1998. At the time, his home’s appraised capped value was $77,000. Last year, it was valued at $295,000.
Huebner received a new Dallas County appraisal notice on Monday. It’s rising an additional $30,000, meaning taxes will also rise."The housing market in DFW right now is absolutely on fire," said RE/MAX Town and Country broker Michael Coburn. "We have so much demand for houses that it’s causing prices to increase dramatically. There’s houses that last year were $300,000 that are being appraised this year for $390,000.
"And every month, I tap into that a little more and a little more so I can pay the shortfalls," he said.
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