Sticker shock: Appraisal district mails notices of values

By Messenger Staff | Published Saturday, April 14, 2018

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The Wise County Appraisal District Friday mailed 38,000 notices of appraised values to property owners.

Chief Appraiser Mickey Hand cautioned residents to be prepared for increases due to a volatile housing market.

“There will be some sticker shock with what the market is doing,” Hand said.

He pointed to numbers from the Texas Real Estate Center that show the average price of all homes in Wise County has jumped from $196,000 in 2016 to $246,000 in the first quarter of 2018.

“It’s all about supply and demand,” Hand said.

In an effort to keep up with the rising construction cost, the inflation of building material and labor, and overall market conditions, the appraisal district updated its cost and schedules, according to Hand. The cost schedules are used to determine a replacement cost of buildings, which is similar to information used by builders. The values are then compared to actual sales in the market area to determine the level of market.

Hand said state law requires appraisal districts to appraise all properties at 100 percent market value, or the price your home would sell for today in the marketplace.

The deadline for protests was moved to May 15 from May 31.

“Many disagreements regarding a property owner’s value can be resolved informally by visiting with an appraisal district staff appraiser,” Hand said.

Property owners are encouraged to bring pictures, repair or estimates and/or costs receipts, sales contracts or any information they have to help the appraiser determine the condition or value of the property when meeting with a staff member.

Property owners who have questions about their notices or valuation may contact the WCAD at 400 East Business 380 in Decatur or call 940-627-3081.

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