Monday is the last day to file a property appraisal protest with the Bexar Appraisal District for the latest round of appraisals.
Chief Advisor Michael Amezquita predicts a record number of protests or around 160,000 could be filed.
The average increase in local property valuations was 28%, prompting protests, particularly from those who may not be able to pay their next property tax bill based on those valuations.
Amezquita said protesters should not hesitate.
“Go ahead, file your appeal and give us an opportunity to dig deeper into your property because we’ve been conducting a bulk appraisal. Now let’s get down to the brass tacks about your unique property characteristics and why your property should differentiate what’s being sold in your neighborhood,” Amezquita said.
Protests are best submitted online at bcad.org, but they can also be mailed in or dropped off at 411 N. Frio St.
Behind the higher valuations is a hot seller’s market, driven by lower inventories and high demand, both fed by San Antonio’s current popularity as a good place to live.
Many San Antonians remain shocked by recent high real estate valuations, but they’re not the highest among the state’s four major metro areas.
Ratings increased 50% in the Boerne area and 46% in the New Braunfels area. Renters will also feel the effects of higher valuations for higher rents.
Ratings increased 36% in the Austin area. Estimates in the Dallas and Houston areas recorded smaller increases of 21% and 23%, respectively.
Now some of the “Big Four” may have lower ratings than San Antonio, but they’re still a more expensive place to buy a home, Amezquita said.
“San Antonio remains the cheapest house from a buyer’s perspective, although expensive, beyond our wildest imagination, it’s still the cheapest subway in Texas,” he said.
The average home price in March in San Antonio was $320,000. That compares to $335,000 in Houston, $360,000 in Dallas and $521,000 in Austin.
High real estate valuations go hand-in-hand with popular places to live, like south of Fort Worth in Somervell County, where valuations are up 60% this year. It was the biggest climb in Texas.