Lubbock Property Appraisals Rise for Second Year

Tax appraisals have made their way out and property owners are not happy with the 13% increase on top of the 16% increase last year. According to numbers provided by the Lubbock Central Appraisal District, median percentages have increased almost four times over since 2020.

The chief appraiser with the Lubbock central appraisal district said the increase is caused by the market value of the home, not improvements done by the owner.

“Whether the home has been improved or the home has not been, we’re seeing an increased value in the property is what a willing buyer is willing to pay for that property, and that’s what we’re reporting in our appraisals,” Radloff said.

Radloff said they can only do so much on their side while appraising the home from afar.

“We just do everything from the street,” Radloff said. “We don’t have the knowledge of what’s going on inside that property, the best way to get that knowledge is from the property owner.”

Radloff recommends bringing evidence that can prove the home’s value inside and out.

“If they bring us pictures, we’ll look at pictures, we like to see if we can see the damage or we can see the fact that it hasn’t been updated since 1960, we love that because then we can make an adjustment to that property,” Radloff said.

Radloff said not to leave that appraisal just lying around, and getting it done as soon as possible.

“I think the best opportunity right now is for the general public to come down and visit with one of our appraisers rather than waiting for the formal process,” Radloff said.

The appraisal district said you have up until April 28th to walk-in to protest. After that, you will have to file protests online.

The deadline to submit a protest form is May 15 and can be submitted to the Central Appraisal review board, which is a citizen group that determines the outcome of a protest.

According to the Texas Comptroller some reasons to protest an appraisal include proposed values that are too high, values that are unequally compared, a chief appraiser denying an exemption and other issues, according to the comptroller.

For Lubbock homeowners:

• Online protest forms can be filed at Log on to www.lubbockcad. org.

• Forms can be dropped off at Central Appraisal District, P.O. Box 10568, Lubbock, TX 79408.

In addition, online Homestead Exemption

Filing is available. Citizens may file online for residence homestead exemptions. This includes the General Residence Homestead Exemption, Disabled Person, Person Aged 65 or Older (or Surviving Spouse), 100 Percent Disabled Veteran (or Surviving Spouse), Surviving Spouse of an Armed Services Member Killed in Action, Surviving Spouse of a First Responder Killed in the Line of Duty, and the Donated Residence of Partially Disabled Veteran (or Surviving Spouse).

To file online, locate your property by using the property search. Click on your property and you will see HS Exemption. Click on the binoculars to apply.

For additional assistance, call 806-762-5000 or email info@ lubbockcad.org.

Importance of Homestead Exemption

Spring is here and that means property owners in Texas are receiving their tax assessments. The state of the economy and the housing market in Lubbock is strong and stable. We are seeing a rise in property values and while no one wants to pay more in taxes than they must, the silver lining is your property is worth more. However, when home values increase, so does the tax liability. One of the ways to protect yourself and keep your tax liability within reason is to make sure homeowners have filed for their Homestead Exemption on their primary residence. It’s easy to do and can be filed online, in person at the Lubbock Central Appraisal District or printed and mailed in. The Homestead Exemption protects property owners by preventing property taxes from increasing more than 10 percent of the home’s current value each year. You can find out more by visiting lubbockcad.org.

We are fortunate to live in West Texas and enjoy many amenities here in Lubbock without the hassle and prices that are typically found in other big cities around Texas. We have beautiful parks, great schools, a vibrant arts community, and a variety of businesses that our tax dollars support. Owning real estate helps Texas property owners build net worth and own a part of the American Dream. To learn more visit lubbockrealtors.com.

Buying or selling real estate is one of the biggest financial transactions you will have in your lifetime. Make sure you have the benefit of a local Realtor to help you through the process. Realtors are guided by the standards of the Realtors® Code of Ethics. Your local Lubbock Realtors are members of the Lubbock Association of Realtors®, Texas Realtors® and the National Association of Realtors®.