08/12/2016 Home Values Increase 32 Percent In Three Years

Harris County Appraisal District News Release

For additional information contact Jack Barnett, Communications Officer, 713-957-5663

August 12, 2016

Harris County Appraisal District Reports Home Values Rose 32 Percent In Three Years
Houston —The Harris County Appraisal District today corrected a number it had
presented to the Senate Select Committee on Property Tax Reform and Relief.
The average market value of a single family residence for 2015 was $214,000, not the
$241,000 the district had reported at the May committee hearing.
“As the chairman of the Senate Select Committee on Property Tax Reform and Relief,
I believe it is important to provide updated information to property owners,” said Senator
Paul Bettencourt (SD-7). “We discovered this discrepancy after the hearing, and I
contacted new Harris County Chief Appraiser Roland Altinger to provide the correct
number.”

“We have always tried to promote transparency at the appraisal district and provide
accurate information to all the residents and elected officials we serve,” said Roland
Altinger, chief appraiser.

The average market value of a single family residence for 2014 was $187,179
according to HCAD records, and the average market value of a single family residence for
2013 was $162,728.

“Over a three-year period, these numbers show home values rose 32 percent, which is
what I had estimated at the time of the hearing,” Sen. Bettencourt said. “This represents a
significant increase, and that is why we are studying the property tax process and appraisal
system to develop options to reduce the tax burden on property owners.”

About HCAD
The Harris County Appraisal District is a political subdivision of the State of Texas
established in 1980 for the purpose of discovering and appraising property for ad valorem
tax purposes for each taxing unit within the boundaries of the district. The district has
more than 1.7 million parcels of property to assess each year with a total market value of
approximately $526 billion. The appraisal district in Harris County is the largest in Texas,
serving approximately 500 taxing units, and one of the largest appraisal districts in the
United States. For further information, visit www.hcad.org.