BCAD appraisal (Shavano Park: comparable sales, renting, custom home)

[Cuero]

Originally Posted by TexasRedneck

Actually, that's already done - when the values go up, they're required to adjust the tax rate - the effective tax (what you have to pay) can't go up over a certain percentage year-over-year. The frustrating part is - as is covered in the newest information on the Frost Bank building buy-out - that COMMERCIAL buildings are often WOEFULLY under-valued as compared to their true market value. THAT is what I think needs to be addressed.....but good luck getting THAT done.

It comes up for vote from time to time, but every time it gets shot down thanks to the real estate lobby. The average Joe doesn't realize that anyone can find out how much he paid for his house. The only people non-disclosure benefits are people like the owners of Frost Bank.

[SanAntonioBrit]

I think the attached figure, at least for the 78248 zip code, demonstrate some of the problems with the BCAD tax assessment this year. My analyses suggest that in 2014 there was definitely sufficient justification for an approximate 5% increase based on market trends. But looking at the 2015 data, there doesn't look to be much of an improvement in market values at all and things are looking pretty flat. The best illustration of this is in the bottom figure which shows the % change in market value vs. the % change in BCAD appraised value for one house (mine! more analyses pending!). But in the other figures you also can see clearly the market has been essentially flat in the last year after a nice improvement in 2014.

The caveat here is that the 2015 data only represent the first four months or so, but there are enough data points available (approx 50 houses sold in 78248 already this year). One could also make the argument that a tax increase should be based on $/sqft or on the absolute mean sold price, but these two values are problematic because of all the variables that go in to determining them. Regardless, in 2015, the increase in sold $/sqft was only about 1% and the average total sold price declined.

So why are we looking at 5 - 10% tax increases? There is no obvious justification to me. From my analysis in the 78248 zip code, taxes should remain flat and provisional 2015 data actually indicate that they should go down slightly based on market value trends.

[Montirob]

Originally Posted by SanAntonioBrit

I think the attached figure, at least for the 78248 zip code, demonstrate some of the problems with the BCAD tax assessment this year. My analyses suggest that in 2014 there was definitely sufficient justification for an approximate 5% increase based on market trends. But looking at the 2015 data, there doesn't look to be much of an improvement in market values at all and things are looking pretty flat. The best illustration of this is in the bottom figure which shows the % change in market value vs. the % change in BCAD appraised value for one house (mine! more analyses pending!). But in the other figures you also can see clearly the market has been essentially flat in the last year after a nice improvement in 2014.

The caveat here is that the 2015 data only represent the first four months or so, but there are enough data points available (approx 50 houses sold in 78248 already this year). One could also make the argument that a tax increase should be based on $/sqft or on the absolute mean sold price, but these two values are problematic because of all the variables that go in to determining them. Regardless, in 2015, the increase in sold $/sqft was only about 1% and the average total sold price declined.

So why are we looking at 5 - 10% tax increases? There is no obvious justification to me. From my analysis in the 78248 zip code, taxes should remain flat and provisional 2015 data actually indicate that they should go down slightly based on market value trends.

I believe, and correct me if I am wrong, that the 2015 value is supposed to be the value as of January 1, 2015. In other words, the appraisal is one year behind as it cannot take into account any improvements to the property, market forces, etc. that have occurred between January and May of this year. It is reflective of 2014 vs. predictive of 2015, which may mean (per your chart) that 2016's appraisals will be flat.

[elnina]

Originally Posted by Montirob

I believe, and correct me if I am wrong, that the 2015 value is supposed to be the value as of January 1, 2015. In other words, the appraisal is one year behind as it cannot take into account any improvements to the property, market forces, etc. that have occurred between January and May of this year. It is reflective of 2014 vs. predictive of 2015, which may mean (per your chart) that 2016's appraisals will be flat.

Yes. You are correct.

[SanAntonioBrit]

I believe, and correct me if I am wrong, that the 2015 value is supposed to be the value as of January 1, 2015.

Very important to know. So, to be exact, the BCAD '2015' value is based on the market from Jan 2014 to Jan 2015? If that's the case, then my data for 2014 actually reflects the 2015 BCAD analysis period. Which means a 5% rise this year is on point, but that we should keep a close eye on the rest of this year.

[MenardMQ]

How much did every one's tax rates increase?

We built a house last year in Shavano Park and our first full assessed value (2015) was a whopping 10% higher than our full contracted build price. That's great if I was selling the house, but it sure adds to the tax bill!!

[SA Greed]

went from 193k to 209k. just bought last year and willl hope to use last years appraisal value to pettition. Anyone know if this would work?

[robinita]

I'm in Monte Vista and ours went from 220s to 280s. Just bought our house last year as well, but our assessed value is less than what we paid.

[MenardMQ]

My neighbor's house has 900 more square feet than ours, exact same lot size, built by the exact same builder, and they decided to appraise our house a whopping 410K more than theirs. Completely out of whack...

[steve807]

Should be some great new stuff bought with all this additional tax revenue rolling in.

Every local forum I look at has folks talking about the same huge increase for 2015 and lots of folks planning to appeal.

I wonder if Bexar just used a computer program to hike everyone's valuation ? 10% is very common as that is the annual limit for some types of exemption (Homestead or Over-65, I forget).

This 10% is the first of several for me in the future if they have a record of my purchase price last year.