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Bexar County Residential Values Increase 8.2%

Property tax assessments for homes were increased by 8.2% for the tax year 2021, based on a review of 105,861 homes valued by the Bexar Appraisal District. Homes valued between $300k to $500k had the largest increases, average 8.6% higher than 2020.

Review of 105,861 homes valued at $300,000 or indicates an increase in assessed value of $44.68 billion, up 9.2% from $48.47 billion in 2021. Total property taxes for 2021 for homes valued over $300,000 would total $1322.3 million, based on a 2.7% tax rate before considering homestead exemptions.

Bexar has 3,322 homes valued at $1 million or higher. They are valued at $4.8 billion in 2021, up from $4.4 billion in 2020.  Values were increased for 2,586 homes, reduced for 572 homes, and remained flat for 164 homes.

Homes valued at $300,000 to 500,000 increased from $27.19 billion in 2020 to $29.87 billion in 2021, an 9.8% increase. Of the 80,824 in this price range, values were increased for 75,806, reduced for 4,705, and remained flat for 313.

Luxury homes valued at $500,000 to $1,000,000 rose to $13.7 billion in 2021 from $12.6 billion in 2020, a 8.5% increase. This group of homes had the smallest level of increase, but still a sizable increase. Most homes in this price range saw an increase in the property tax assessment. Of 21,715 homes valued at $500,000 to $1,000,000, 19,354 were increased in tax assessment, 2,009 were reduced and 352 did not change.

Bexar County homeowners are encouraged to protest their property tax assessment, regardless of whether it was increased, reduced, or remained flat. Bexar Appraisal District has limited staff to value well over 200,000 homes in Bexar County. Homes are valued using the cost approach. The only option for quality control is a property tax protest. Otherwise, Bexar Appraisal District staff is highly unlikely to review the estimate of value generated by their computers.

There is no risk to appealing. The appraisal district and appraisal review board may not increase the assessed value due to an appeal. The only options are to reduce it or leave it the same. 85% of homeowners who appealed in 2019 were successful in reducing their property tax assessment.

The property tax appeal deadline is Monday, May 17th.

Blog Author

Patrick O’Connor, MAI, Owner and President
Patrick O’Connor has been active in reducing property taxes, providing expert witness testimony and appraising commercial real estate property since 1983. Pat is active in publishing analyses and data with respect to the real estate market, while being a highly regarded media spokesperson for the real estate community. He holds a MAI, the highest achievable designation from the Appraisal Institute, and is a licensed senior property tax consultant. Pat earned a Master of Business Administration from Harvard University. In 2001, he authored the first definitive consumer guide to Texas property taxes, Cut Your Texas Property Taxes.

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You pay nothing unless we reduce your property taxes, and then only a portion of the savings. There is no flat fee, no sign up fee and no setup fee. We protest your property taxes aggressively every year, and you only pay if and when we reduce your property taxes.

O’Connor is the largest property tax consulting firm in the U.S. Our licensed tax consultants and administrative support team benefits home and property owners by reducing property tax assessments, filing personal property renditions, reviewing tax statements, protesting over-assessed property values, and attending informal tax hearings and appraisal review board meetings.

 

We work tirelessly to protest and lower your taxes with:

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  • No flat fees or upfront costs.  No cost ever unless your property taxes are reduced.
  • All practical efforts are made every year to reduce your property taxes.
  • Never miss another appeal deadline.
  • Property taxes protested for you annually.
  • You do not have to accept the appraisal district’s initial guesstimate of value.
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  • Free support regarding homestead exemptions.
  • Some years are good – typically 6 to 7 out of 10 will result in tax reduction for you.
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