By using their right to contest assessed property values in preliminary hearings for the 2023 tax year, property owners in Hays County have recovered more than $12 million. The task of estimating the market value of both real estate and personal property in Hays County falls within the purview of the Hays Central Appraisal District each year. O’Connor derived this information from the original and tax rolls available as of June 2023, provided by the Hays Central Appraisal District.

O’Connor suggests that cumulative 2023 property tax savings as the outcome of Hays County property tax protests will surpass roughly $110 million based on a study of data regarding property tax savings from prior years as published on Hays County Property Tax Trends.

Hays County Protests Resulting in Reduction

The property tax protests in 2023 have already generated approximately $5.1 million in savings for homeowners. Data from the Hays Appraisal District reveals that 1,676 homes have experienced a decrease in value due to the tax protests. In Hays County, the average reduction in value for residential properties amounts to $112,884, resulting in an average property tax savings of $3,048 for property owners. It is important to note that these figures do not consider homestead exemptions and are based on a 2.7% tax rate.

Hays County’s apartment properties have experienced remarkable savings, with one account already processed. Originally valued at $12.9 million, the assessment for this property has been decreased by $876,231, resulting in a current assessment of around $21 million. This reduction in assessment has led to substantial savings in property taxes for the apartment owner, amounting to nearly $23,658 based on a 2.7% tax rate. Apartment tax protests in Hays County have led to a 4.0% decrease, resulting in $23,658 in savings.

The assessed value of commercial properties in Hays County has dropped by 74.5% over 210 accounts, this drop has resulted in the county’s largest percentage fall for land and other property owners. As a result, these owners are now entitled to a $6.2 million tax credit, averaging out to nearly $29,765 per account after factoring in a 2.7% tax rate. The initial $310 million estimate has been cut by an astonishing $231 million.

Hotel owners successfully reduced the assessed value of hotels that have already been disputed and settled from $2.3 million to $1.1 million. As a result, $1.2 million in taxes were assessed at a reduced rate, saving $32,465 at a 2.7% tax rate. As at the time of writing, these results only apply to one hotel. So far this year, hotels have enjoyed an average decline of 50.6%, saving $32,465 in taxes.

This year, nine tax protests concerning office buildings in Hays County were successfully resolved, resulting in a total property tax reduction of $96,814 for the owners of office buildings. The initial valuation of $10.9 million was decreased to $7.3 million, leading to a tax assessment reduction of $3.5 million. With a tax rate of 2.7%, the average savings on property taxes amounted to $10,757. The assessment reduction for office buildings, where the tax protests were settled with a decrease, was 32.7%.

Individuals who own property in Hays County filed tax appeals, which resulted in reductions in 1,917 properties’ assessed values in 2023. As a result, the county’s assets went from totaling $1.62 billion to $1.17 billion, leading to a decrease of an average of 27.52%. For each property, incorporating houses as well as businesses, that was challenged, the proprietors saved, on average, $142,458 in taxes.

The following apartment complexes have the highest 2023 property tax assessment reduction:

  • The owner of 407 S. Guadalupe St. in San Marcos is set to save $23,658 in 2023 as a result of a $876,231 cut in their initial property tax assessment from $21.9 million to $21 million. The property taxes for these flats built in 2019 were decreased by 3%.

A staff of 39 experts from the Hays Central Appraisal District assess properties in Hays County. The previously stated example, however, highlights the significant possibilities for property tax reductions offered by the property tax appeal system.

The reduction reflected in the 2023 property tax assessment is calculated by comparing the baseline values given by the Hays Central Appraisal District with the most current tax assessments. Due to the exclusion of properties that were protested but did not achieve a reduction, the average decrease has increased.

In a typical year, Hays County property tax challenges are granted in more than half of the matters making the probability of success extremely high. Individuals with real estate would be well advised to thoroughly examine their annual property tax assessments along with filing an appeal on a yearly basis.

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