Tarrant County Property Tax Trends documents that Tarrant County Appraisal District has experienced substantial growth in market value and number of parcels while limiting the budget increases. The market value of tax parcels has almost doubled from $129 billion in 2013 to $213 billion in 2018. The number of tax parcels has grown from 1.5 million to 1.8 million from 2014 to 2018. The budget has increased 20% over 7 years, a much more modest level of increase in budget than most appraisal districts. The site has details on number of tax protests, total market value, total taxes levied, value by type of property, number of judicial appeals, number of appraisal district staff, appraisal district budget and much more.
The market value of Tarrant County taxable property rose from $129 billion in 2014 to 213 billion in 2018. This is a 65% increase over 5 years; 13% per year. These large increases are part of the impetus for Senate Bill 2, which caps taxes for school at 2.5% and cities / counties at 3.5% per year for existing property, plus the value of new construction.
Property tax savings from protest hearings at Tarrant County Appraisal District (TAD) have increased sharply: from $41 million in 2013 versus $320 million in 2018. Commercial accounts were reduced $225 million in 2018 versus residential accounts for $95 million. There are more residential accounts protested but the commercial accounts have a higher value.
The number of tax protests in Tarrant Appraisal District has about doubled from 72,180 in 2014 to 148,070 in 2018. Tarrant County Appraisal District totaled 148,070 protests in 2018. This includes 112,920 residential and 35,150 commercial accounts. Residential accounts for 75% of the appeals but for 30% of the savings ($95 million out of $320 million in 2018).
Judicial appeals in Tarrant County have been increased sharply over the past six years. Judicial appeals rose from 572 in 2012 to 1,221 in 2018, a 135% increase in six years. Property tax savings in Tarrant County due to judicial appeals have been moderate to low given the size of the county. Most appeals are resolved administratively. Judicial appeal tax reduction were $20.7 million in 2012 to $21.5 million in 2018.
The Tarrant County Appraisal District budget rose from $19.8 million in 2012 to $23.7 million in 2018, a 20% increase over 7 years. This averages 2.8% annual increase in TAD budget, well below the increase in most appraisal district budgets.
The Tarrant County Appraisal Review Board increased from 65 from 2012 to 85 in 2018.
The number of appraisers has risen substantial; from 85 in 2013 to 119 in 2018. The number of appraisers increase by about half while the budget only rose twenty percent.
2020 property tax deadline is May 15th; deadlines to protest are not extended due to Covid-19.
Visit Tarrant County Property Tax Trends to learn more.
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