| County | Median Level of Assessment | Median Sales Price (1) | Median 2023 Tax Assessment | Extra Taxes Due to Over Assessment (2) |
| Brazoria | 111.8% | $280,000 | $333,830 | $1,453 |
| Bexar | 104.6% | $282,073 | $297,325 | $412 |
| Collin | 101.9% | $490,000 | $498,759 | $236 |
| Dallas | 108.8% | $305,000 | $328,180 | $626 |
| Denton | 110.2% | $420,000 | $465,748 | $1,235 |
| El paso | 107.7% | $222,650 | $240,038 | $469 |
| Fort Bend | 108.1% | $370,040 | $402,442 | $875 |
| Galveston | 112.5% | $298,900 | $338,290 | $1,064 |
| Guadalupe | 99.6% | $335,950 | $333,390 | $(69) |
| Harris | 116.2% | $275,008 | $322,400 | $1,280 |
| Hays | 101.3% | $432,250 | $436,660 | $119 |
| Hidalgo | 107.4% | $200,000 | $210,346 | $279 |
| Lubbock | 97.7% | $235,000 | $229,814 | ($140) |
| Montgomery | 103.5% | $321,250 | $335,680 | $390 |
| Nueces | 122.7% | $229,500 | $282,915 | $1,442 |
| Travis | 111.8% | $500,000 | $563,156 | $1,705 |
| Webb | 101.7% | $201,450 | $205,688 | $114 |
| Williamson | 96.7% | $428,595 | $417,498 | ($300) |
Hays County Central Appraisal District valued homes at 101.3% of market value, based on a study by O’Connor of 4,073 home sales in Hays County during January 2022 through March 2023. The median time adjusted sales price was $432,250 versus a median assessed value of $436,660, or 1.3% higher.
Hays County Central Appraisal District reassessment is much closer to market value than most appraisal districts in 2023. Fifteen out of eighteen appraisal districts have over-valued residential by an average of 8.7%.
Compared to other counties where two-thirds or more of homes are overvalued, Hays County has only assessed just over half, or 54% of homes above market value.
There is still a gap of 28.9% between the actual home price change for the Austin metro area and the Hays County assessment increase for 2023.
Hays County homes at the higher end of value ranges find the greatest surge in assessed value for 2023.
In other counties across Texas, the largest homes received the highest assessed value increase percentage for 2023, but in Hays County, a 27.8% increase in assessment is found for homes between 4,000 and 5,999 sq. ft.
Assessment increases range from 20.8% for Hays County homes built before 1960, to 24.1% for properties constructed in 2001 and later.
Hays County Commercial Assessments Soar While Values Plummet
Hays County commercial property tax assessments rose by 26.1%, close to the average of eighteen appraisal districts of 28%. However, the increase in tax assessment occurs during a time when commercial real estate values are down by 15 to 30%, due to higher interest rates, insurance, and property taxes.
Hays County Commercial Property 2023 Assessment % Increase by Property Type
| Property Type | 2022 Final Market Value | 2023 Notice Market Value | Increase% |
| Apartment | $2,872,633,195 | $3,835,746,205 | 33.5% |
| Office | $89,113,060 | $107,676,938 | 20.8% |
| Retail | $84,937,044 | $108,611,482 | 27.9% |
| Warehouse | $750,052,660 | $873,370,314 | 16.4% |
| Hotel | $53,009,578 | $78,745,292 | 48.5% |
| Land | $4,898,683,752 | $6,028,178,015 | 23.1% |
| Total | $8,748,429,289 | $11,032,328,246 | 26.1% |
Hotels in Hays County have the highest assessment % increase for 2023 among all types of commercial property, at 48.5%. Owners of apartment properties are the next highest at 33.5%.
Hays County commercial owners with property built between 1961 and 1980 are facing assessments rising by 30.3%, while owners of property built since 2001 see similar growth in their assessed values at 30.4%.
When reviewing Hays County commercial property by value range, properties over $5M have the most startling increase at 32.3%.
Apartment owners with property built before 1960 actually saw a drop in their assessed values, but this is counter trend when all other age ranges of apartment property are up by close to 30% or more.
Commercial office property in Hays County is seeing the most significant increase for property built prior to 1960, where commercial property owners are likely outraged to see increases of over 68%!
Hays County retail property owners of real estate constructed pre-1960 saw close to flat values for 2023, but owners of retail properties built 2001 and since have shot up by 27.5%.
2023 Hays County warehouse property owners feeling the most pain are those with property built between 1961 and 1980, where values have climbed 36.5%.
Owners of office property are receiving assessment increases around 20% whether they own medical or office buildings.
Garden apartments in Hays County are looking at values up close to 30%, while other apartment sub-types are up over 37%.
Property Tax Protest Deadline
The property tax protest deadline is May 15. We encourage you to file a protest for each property valued by appraisal districts. Home property tax assessments exceed market value across two-thirds of Texas. Residential values have been increased 15 to 20% while home values have been relatively flat January 2022 to January 2023, on a year over year basis. However, sales prices spiked during mid-2022, and it appears many tax assessments are based on spike prices instead of the January 2023 value.
Commercial values are up 28% across the counties reviewed but property values likely are down 15 to 30% during the last year.
Whether you own residential or commercial property in Hays County, if your assessment has increased (and odds are it has), you do not have to accept the new appraisal value, it is your right to appeal. Don’t pay more than your fair share. Record levels of property tax protest are expected to follow. The deadline to file a property tax protest is May 15th.
About O’Connor:
O’Connor is among the largest property tax consulting firms in the United States, providing residential property tax reduction services in Texas, Illinois, and Georgia, as well as commercial property tax reduction services across the United States. O’Connor’s team of professionals possess the resources and market expertise in the areas of property tax, cost segregation, commercial and residential real estate appraisals. The firm was founded in 1974 and employs more than 600 professionals worldwide. O’Connor’s core focus is enriching the lives of property owners through cost effective tax reduction.
Property owners interested in assistance appealing their assessment can enroll in O’Connor’s Property Tax Protection Program ™ . There is no upfront fee, or any fee unless we reduce your property taxes, and easy online enrollment only takes 2 to 3 minutes.
