Data indicates that the value of Travis County real estate assessed by the Travis Central Appraisal District increased by 131% between 2013 and 2021. Between 2013 and 2021, the value of real estate in Travis County increased from $137 billion to $316 billion. At 92%, this value exceeds the statewide growth rate. From $2.253 trillion in 2013 to $4.335 trillion in 2021, the total value of all property assessed by the Texas appraisal district increased.

Travis Central Appraisal District

At least once every three years, the Travis Central Appraisal District, a government agency, is tasked with determining the market valuation of every property in Travis County. Appointing the chief appraiser is the duty of the board of directors.

Travis County Property Value per Acre

There are 654,720 acres and 1,023 square miles in Travis County. 640 acres is the area per square mile. This suggests that Travis County is marginally smaller in area than the mean county, which encompasses 1,058 square miles. For the year 2021, the Travis Central Appraisal District has estimated a cumulative worth of $361 billion. When taking the total number of acres into account and the value for all accounts within the county, we arrive at $482,649 per acre. In contrast, per acre, the statewide value is $25,218.

According to the Travis Central Appraisal District, single-family residences make up over 50% of the total market valuation in Travis County. Recently, the value ratio for residences has been notably higher than the state average of Texas, which is approximately 41% to 44% of the total market value. The statewide average experienced a rise from 41% to 44%. In Travis County, residential property has remained between 48% and 52% of all property types.

Apartments, Commercial, Business Personal Property and Industrial / Other ~ 49%

The Travis Central Appraisal District provides an estimate of the property values for Travis County. According to their assessments for 2021, single-family homes comprise 51% of property in the county, apartments at 12%, commercial buildings are 22%, and industrial and other assets make up 15%.

Travis County Property Value $239 BB per 1 Million Population

From 2013, property values have increased from $124 billion per million people to $239 billion per million population now. With a growth rate of 92% in only 8 years, this is far faster than both the population and the CPI. According to the state, the market value per million people is $145 billion.

Travis County Population Growth and Density

Travis County’s population rose by 18% between 2013 and 2021. During the same period, Texas’ population increased by 13%. Travis County has a population density of 2.01 people per acre, compared to the Texas average of 0.17 people per acre. In other words, each Texas resident, man, woman, and child, has 5.88 acres of land. Travis County has a population density that is 12 times more than the statewide average.

Property Value Grow Faster Than Population

The disparity between Travis Central Appraisal District’s growth in raising the value of taxable property (131%) and population growth of 18% is striking. From 2013 to 2022, the value of real estate in the United States increased dramatically. The real estate market, on the other hand, has been in a state of flux since early 2022. Higher borrowing rates have made residences less affordable and commercial assets less valuable.


Transition Period to Slower Property Value Growth

Dallas and Texas housing prices seem to have been rising and falling as of October 2023. With variations based on metro and micro-markets, year-end home prices will most likely be similar to year-end 2022 levels. In 2023, there were a little fewer home sale. The average sales price, nevertheless, is about the same as it was the previous year. The pool of potential sellers is less since their existing mortgage rates are 3.5% and lower. A new mortgage interest rate of around 7% would be significantly higher than the current one for the majority of homeowners.

Unpredictable Reassessment in 2024

Texas appraisal districts may once again significantly increase home values. However, statistics on house sales for both volume and price provide little help. In actuality, if sales price in a metro region are usually flat, they are mixed. Some locations have increased costs, while others have lower prices or are stable. The reassessments in 2024 seem to be a mixed bag. Some assessments will be raised, while others will almost certainly be reduced.

Travis County Home Price Sale Trends

A year ago, home values were significantly lower than they are now. The median home price in the Travis County area increased 2.2% to $550,000 in September, while the average price of a home sold in the area increased 0.8%.

Commercial Property Values Down Due to Higher Interest Rates

Interest rates, more precisely the 10-Year Treasury, have an impact on the value of commercial real estate. A lower market value and higher capitalization rates are the results of increased interest rates. From 0.96% in January 2021 to 1.66% in January 2022 to 3.79% in January 2023 to 4.81% in October 2023, the 10-Year Treasury Index rate increased. The 10-Year Treasury rates were 2% or less from the middle of 2019 until the beginning of 2022. Even though the interest rate hike might not seem like a big deal, it has frozen the business property capital markets, making it impossible for buyers and sellers to agree on a price. For buyers to get good financial returns, the cap rate needs to be significantly higher. The higher cap rate makes sales prices go down, and owners don’t want to take less money. Interest rates and capital markets need to settle down before most owners sell unless they are pushed to.

Travis County Property Value in Comparison

The Travis Central Appraisal District evaluated Travis County properties at $316 billion in 2021. Travis makes up one of the highest-ranking countries: 1) Harris $687 BB 2) Dallas $392 BB, 3) Travis $316 BB, 4) Tarrant $283 BB, 5) Bexar $223 BB.

Are Travis Central Appraisal District (TCAD) Property Values Reliable?

TCAD has a significant problem, much like every other appraisal district in Texas. In 2021, TCAD employed a total of 67 appraisers to assess the value of 397,544 property tax parcels. Typically, TCAD conducts a comprehensive reassessment of all properties on an annual basis. Out of the total of 67 appraisers, the majority are engaged in on-site data collection for recently constructed properties. There may be a total of 50 individuals who specialize in assessment modeling at TCAD. That would result in a total of 7,950 tax parcels assigned to each of the 50 modelers who are specifically dedicated to assessing property value.

It is clearly a difficult challenge for 67 appraisers to keep track of the land values, building data, and conditions and impairments.


Travis County Owners Actively Protest Property Taxes

Travis County property owners are more likely to protest than Texas-wide property owners. Travis County property tax protests reduced property taxes by $307 million in 2021. Travis County tax protests reduced the value of property in Travis County by $11.4 billion (including both informal, ARB, and judicial appeals). Texas accounts for an outsized portion of property tax savings from property tax protests / judicial appeals. The total value reduction statewide was $162 billion in 2021 and Travis County accounted for 7% of statewide reductions.


Homeowner Tips

It is recommended that homeowners make sure their primary residence qualifies for the homestead exemption. In Travis County, protesting homeowners have a good chance of getting their property taxes reduced at the informal appeal. The number, outcomes, comparison to Texas, and other aspects of the demonstrations will be covered in the second blog post on property taxes in Travis County. For free advice on homestead exemptions, give us a call at 713 290 9700. There is no cost for homestead support.

Free Enrollment in Property Tax Protection Program™

Join the Property Tax Protection Program™ now to avoid paying any upfront fees or flat fees.

Enroll online in 3 minutes with no costs or call 713 290 9700 or come to one of our 9 locations.

O’Connor will actively appeal your property taxes every year, and you will only pay if your property taxes are decreased that year.

Source: Texas Comptroller statistics on appraisal district assessments and protests. Tax savings are calculated using a 2.7% tax rate and no exemptions or homestead limits.

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