The Travis Central Appraisal District reports that home values in Travis County rose by an average of 9% this year, thanks to the region's job and population growth that's driving the housing market. Showing no signs of slowing down, it is the “seventh year of positive trends in its [Austin's] real estate and overall economy,” says the appraiser.
The average market value of a Travis County home with a homestead exemption rose from $355,312 to $387,537 in 12 months, says chief appraiser for the Travis Central Appraisal District, Marya Crigler. The average taxable home value (which is computed by substracting exemptions from the market value) rose by 8.7%, with prices ballooning from $262,462 last year to $285,335 today.
In 2015, the average residential market value rose by 11% from 2014 data, with average taxable home value climbing at 9%.
The overall preliminary taxable values in Travis County this 2016 increased 20% from last year's percentage. The total value of all residential and commercial properties rose from $137 billion to $164 billion, with commercial values being a major factor in the increase.
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