High demand for El Paso homes causes spike in appraisal values by an average of 13%

El Paso News

EL PASO, Texas (KTSM) — El Paso homeowners are noticing price increases in their 2021 notices of their home’s appraised value. That means homeowners could also see an increase in property taxes this fall.

According to the El Paso Central Appraisal District, the average increase El Pasoans are seeing is 13 percent, which Dinah Kilgore, executive director and chief appraiser for the El Paso Central Appraisal District, said they haven’t seen in about 10 years.

The reason for the value increase is supply and demand, as the supply of houses is low, yet the demand is high.

“Unfortunately I know a lot of people are upset — they have been out of work, they have just gotten back to work — for whatever reasons. We’re not allowed to look at the financial aspect of a property owner, we have to look at the market value in the area,” said Kilgore.

However, if you feel the appraised value of your home is too high, you can protest by researching and showing evidence that your home is not at the appraised value.

“This is their time to let us know if we’re off the mark on the market. If you have damage, if there’s something around you — maybe they built a wastewater plant around you that we weren’t aware of,” said Kilgore. “We’re not going inside your property, so I don’t know that you have shag carpet and avocado appliances — you got to tell us these things, you have to take pictures.”

El Paso homeowner Mason Jones said he was surprised to see such a high increase.

“We did see a large increase, about 8 to 10 percent on the increase,” said Jones.

Jones is considering protesting the value increase.

“The increase was enough that we were like, that seems like they’re taking advantage of almost the full 10-percent cap. It’s something that we’ve definitely thought about looking into,” he said.

If you want to file a protest, you must do so by May 17, or 30 days after the date of the notice of appraised value. Contact numbers to file a protest can be found on the notices that are mailed to your home.

Kilgore reminded El Paso homeowners not to pay on the notice they receive, saying that is not their tax bill and their tax amount could change by the time it is mailed out in October.

While the spike in appraisal value can be frustrating for homeowners, Kilgore said that if you are looking to sell your home, it will now be worth more with the higher appraisal value.

“The market is really strong right now and, unfortunately, we’re not allowed to appraise on what you can afford to pay in taxes. We have to appraise on what the market value of the home is,” said Kilgore. “It’s really great to know that the market value of your home, ‘oh look. I could sell if I wanted to sell.”

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