Red-hot housing market and appraisals

​​​​​​WILLIAMSON COUNTY – Property value appraisals determined by the Williamson Central Appraisal District’s (WCAD) evaluators will hit mailboxes April 2, and residents can likely expect to see increases in values similar to the past five years.

"All market indicators show that they will go up again,” WCAD Chief Appraiser Alvin Lankford said.​

It’s no secret that home prices are on the rise in the Austin area, making it harder to afford a home for a first time homebuyer.

Real estate data from the Austin Board of Realtors​ show the median home price in Williamson County settled at $270,215 in January, a 1.4 percent year-over-year climb.

The homestead exemption provides relief for homeowners by placing a minimum 10 percent cap on year-to-year appraised values, meaning that if home values are rising at more than 10 percent per year, the cap can provide essential property tax savings.

In a red-hot housing market, the lack of that cap could be the deciding factor between buying a first home or continuing to rent.​