2015 Reappraisal Values
The Harris County real estate market has continued to show growth over the last year, as reported by many local and national news outlets. Properties in virtually every segment of the market have experienced increases in sale prices, median prices, dollar volume and sales volume.
The Harris Central Appraisal District is a regional agency responsible for appraising all property within the boundaries of Harris County for tax purposes. By law, the district must appraise property at the price for which it would sell on the open market as of January 1.
The robust economy has residential and commercial properties increasing in value. Single-family homes, multi-family apartments, office buildings, warehouses and retail have all gone up in value. Companies moving to Houston have created a need for additional office space and spurred office construction. Office buildings have increased in value by approximately 12 percent while apartment values have gone up 22 percent and retail values have grown 21 percent.
The inventory of homes listed for sale has been at a record low – hovering around a 2.6 month’s supply – which gives the seller an advantage. In many areas, primarily those west of I-45 and in northern suburbs, homes are selling almost as quickly as they are listed and many are selling at above the listing price. Homes with price tags of $80,000 to $500,000 are leading the sales, as are homes in areas that have highly-rated schools. Sales of properties under $80,000 are selling but have only see about a 10 percent increase in value.
More information about 2015 reappraisal values for residential, commercial and business/industrial property is available through the left navigation bar where you can also find a list of topics with information about exemptions, how to protest your market value and the property tax process. There is also a direct link to HCAD’s Electronic Filing and Notice System.
For information about values in your neighborhood, click on one of the maps below.
Interactive GIS Maps
All maps represent a snapshot of GIS and Appraisal data as of March 2015 and are subject to change.
For help using our Interactive GIS Maps, please click here.
Boom, Recession, and Recovery - Residential
Appraisal districts are required by law to appraise property at 100 percent of its market value as of January 1. This map follows and illustrates the market trend through the recession. Red specifies increasing home values, green indicates decreasing home values, and yellow shows no change in value. When the recession hit in December 2007, home values throughout much of the county declined for the next two years. The map clearly depicts this change as the red slowly fades in 2008 and 2009. As the road to recovery begins in 2013, the red reappears and surpasses its pre-recession level in 2015.
Boom, Recession, and Recovery - Commercial
Appraisal districts are required by law to appraise property at 100 percent of its market value as of January 1. This map follows and illustrates the market trend through the recession. Red specifies increasing values, green indicates decreasing values, and yellow shows no change in value.
Heat Map – Concentration of Recent Residential Sales
This map shows the concentration of residential single family sales that occurred between January 1, 2014 and January 31, 2015. Only sales that were used to determine values for the 2015 reappraisal were included.
Average Percent of Change by Market Area
This map shows the average percent change in market value from 2014 to 2015 and the average market value by market area.
Concentration of Recent Residential Single Family Sales of $1 Million Plus
This map shows the concentration of residential single family sales $1 million and greater that occurred between January 1, 2014 and January 31, 2015. Only sales that were used to determine values for the 2015 reappraisal were included.
Resources
Click here to read the 2015 Reappraisal News Release.