Bexar home valuations up 7.6 percent

Commercial properties rise 17.5 percent

SAN ANTONIO – Bexar County homeowners can expect to see their values and property taxes rise again. Residential valuations are up an average 7.6 percent, according to the Bexar County Appraisal District.

The district will begin sending out notices at the end of the week.

This is the third year in a row that home values are up significantly.

"It's a pretty good boost," Assistant Chief Appraiser Mary Kieke said. "There is tremendous job growth in this town, and we are still the most affordable city in the state of Texas."

Increasing values are evidence of the local housing market, which continues to thrive. Sales prices of surrounding properties are used to appraise a property.

Homeowner Stefan Dita likes that his new home is worth a little more.

"I think that's good," he said. "I think higher values are better for resale."

Higher values generally also mean higher taxes.

If a home was valued at the average $175,000 last year and is now valued 7.6 percent higher at $188,000, the owner would pay about $340 more in taxes each year.

If the housing market has been hot, commercial real estate has been sizzling. Commercial valuations are up 17.5 percent, according to BCAD.

"At long last, we have institutional investors coming to San Antonio and paying a great deal of money for apartments, office buildings, medical office buildings and industrial properties," Kieke said.

Notices will be sent only to property owners whose values are rising by at least $1,000. This year, about 533,000 notices are being mailed and should begin arriving Monday.


About the Author:

Marilyn Moritz is an award-winning journalist dedicated to digging up information that can make people’s lives a little bit better. As KSAT’S 12 On Your Side Consumer reporter, she focuses on exposing scams and dangerous products and helping people save money.