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Lucy Puniwai's Blog

By Lucy Puniwai | Agent in 76177

Tarrant County Texas - Property Values Increase

By Susan McFarland


KELLER - Property values in Keller and overall in Tarrant County have improved, according to a preliminary report recently released.

The Tarrant Appraisal District reported the value of property within the county increased 2.5 percent from more than $125.1 billion to almost $127.2 billion.

Keller's assessed value increased 2.7 percent over last year, coming in at more than $4.1 billion with a gain of $112 million to the city.

Keller City Manager Steve Polasek said the increase is good but the preliminary figures are not what the city uses when making budgeting decisions.

"May numbers versus certified tax rolls, there's always a lot of room for fluctuation," Polasek said.

Polasek said city officials use a forecast assumption process during early budgeting and the city's current projection is at a 1.5 percent increase.

"We're cautiously optimistic going forward," he said. "We'll continue to monitor them."

Polasek said the increased figures are primarily from new construction, not an increase in property values.

Trophy Club also saw an increase with property values totaling $75 million. The 1.2 percent increase is a town gain of $887,400.

In contrast, other area cities decreased. Haslet experienced a 12 percent percent drop in property value, Roanoke was down by 8.3 percent and Westlake was down by 2.1 percent.

Jimmy Stathatos, Roanoke city manager, expects the number in Roanoke to increase.

"The Tarrant County portion constitutes less than 10 percent of our overall tax base, so we're still confident our overall tax base will still increase," Stathatos said. "Also, we have around $8 million square feet of industrial space in Roanoke, so the inventory levels can fluctuate. That's what's causing the slight decrease."

The preliminary assessments are subject to change as some individual property owners protest TAD's valuations seeking to lower their property tax payments. The final values will be given to the local governments in July so budgets for the coming fiscal year can be set.

Read more here: http://www.star-telegram.com/2012/06/11/4023456/preliminary-report-shows-keller.html#storylink=cpy

Mahalo (Thank You)
Lucy A. Puniwai
(214)783-6416 - Cell/TEXT
(682-224-8050 - Fax



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