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Travis County property owners can expect to receive their 2021 appraisal notices from the Travis Central Appraisal District in the mail, if they haven't already, and have until May 17 to file a protest.
The city's scorching housing market, which is fueled by record-low housing inventory, may lead to sticker shock. "Some residential property owners may see significant increases in their market value due to a lack of supply and high demand in the local housing market," Chief Appraiser Marya Crigler said. "However, property owners with a homestead exemption will still benefit from a 10% cap on the increase of their taxable value."
The Travis Central Appraisal District sent out appraisal notices to nearly 390,000 property owners in mid-April. The notices include the appraised market value of the property as of Jan. 1 and the taxable value, taking into account any exemptions.
In Travis County, the residential homestead median market value increased more than 16% year-over-year, from $354,622 in 2020 to $413,403, according to TCAD. The residential homestead median taxable value increased nearly 11%, from $279,520 to $304,832, in the same period.
If property owners have not yet received their notice in the mail, they can find the same information on the TCAD website here. Property owners who are represented by tax agents can expect their notice to be sent to the agent.
Property owners who believe their property's market value is incorrect can file a protest with the appraisal district by May 17. In 2020, property owners filed 123,957 protests, accounting for around 27% of all properties.
Want to learn more about the 2021 protest process? Join us this Wednesday for the last webinar in our webinar series. Register now: https://t.co/AG6WSWl4vU pic.twitter.com/fsjUNpMggb
— Travis Central Appraisal District (@TravisCentralAD) May 3, 2021
TCAD strongly encourages property owners to file their protests online here, where they can upload evidence, review the appraisal district's evidence and review a settlement offer. Protests can also be filed by mail and through the dropbox located outside the TCAD office.
The informal process, in which property owners will receive a settlement offer from the appraisal district, began April 19 and ends June 18. During this time, property owners will meet with a TCAD appraiser by phone on a first-come, first-served basis; depending on the evidence presented, the settlement offer may be lower than the appraisal.
Property owners who do not accept a settlement offer during the informal process can present their case to the Travis Appraisal Review Board, an independent group of citizens authorized to resolve disputes between taxpayers and the appraisal district. ARB hearings are expected to begin next month.
"TCAD expects a record number of protests and a significant number of ARB hearings in 2021 given the impact of the pandemic, the anticipated reappraisal of residential properties, and rapidly rising home prices," Crigler wrote in a Jan. 14 memo to the TCAD board.
TCAD did not reappraise residential properties in 2020 because of a legal dispute with the Austin Board of Realtors. Last fall, however, the appraisal district identified a new market data source and was able to use it to reappraise homes this year.
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A week after Texas added two congressional seats and California lost one, state officials reported a population decline in 2020 for the first time in the Golden State's history.
California fell by over 182,000 people from January 2020 to January 2021, dropping almost 0.5% to cap out at around 39.5 million people. It is still the nation's most populous state.
For over thirty years, California has seen more people leave than move in from other states, state officials said, with 6.1 million people moving out and 4.9 million coming in last year. Immigration and births kept California growing, but the state saw a shrink in international migration in 2020 due to COVID and the White House's hold on visas.
Of the steady flow of ex-Californians moving to other states, more are moving to Texas than any other state. Many are relocating to Austin, which has been labeled a "little California" by billionaire resident Elon Musk and continues to grow astronomically.
Meanwhile, California cities including Los Angeles, San Diego, San Jose and San Francisco saw a population decline.
With immigration and state migration on the decline, the Golden State was also hit with a spike in deaths- 51,000 people died from COVID in 2020, and all but seven of the state's counties saw death rates higher than the three-year average.
Still, the California Department of Finance said a "slightly positive annual growth" can be expected next year as the state recovers from COVID deaths and political repercussions.
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