Williamson County taxable home value rises
Single-family dwellings up 6.7% for an average of $394,060 in ’24
Williamson County property values are out for 2024, showing the taxable value of single-family homes rose, on average, by almost 7%. The average market value was $464,702, up 1.25%.
The Williamson Central Appraisal District recently mailed 262,107 appraisal notices to property owners of all types — residential, commercial and land, said Chief Appraiser Alvin Lankford.
What is Williamson County’s 2024 taxable value?
The average single-family home taxable value rose 6.7%, to $394,060 from $369,361 last year. Taxable values — your market value minus exemptions — are used to calculate a homeowner’s property tax bill once the various taxing jurisdictions set their rates later in the year.
Under state law, the taxable value of a property with a homestead exemption can only increase to current market value or 10% over the previous year, whichever is less.
While market values have stabilized since last year, the assessed values of homesteaded properties, which are those that serve as a primary residence, will continue to increase by law by 10% until the assessed value reaches the market value.
What about the county’s market value?
For 2024, the average market value of homes was $464,702, up 1.25% from a year ago. The market value is the amount that county appraisers estimate a home would have sold for as of Jan. 1.
Last year, Williamson County saw a reduction of about 12% in home values as rising mortgage interest rates and slowing demand cooled off the previously hot housing market across Central Texas. The number
of homes available for sale in December and January was at its highest level of the past few years, Lankford said.
“With the supply of homes increasing and demand of people moving to the area, the market has stabilized for January of 2024 compared to the volatility of the last few years,” Lankford said. “The average home values have increased less than 2% since January of 2023.”
“Looking at the residential sales occurring in 2023, the Jan. 1, 2024, values were relatively flat with an increase of only 1.25% in market value,” Lankford said. “The increasing population of Williamson County and demand for housing has slowed the decline seen in 2023 values. However, the high interest rates have kept prices from escalating.”
What is the total tax roll?
The overall market value for Williamson County increased to $171.7 billion in 2024, up 5.7% from about $162.4 billion in 2023, a sign of robust growth in the region. This includes increases for existing property as well as all newly constructed improvements (7,324 residential and 424 commercial).
The overall taxable value rose to $133.8 billion, up 10.2% from $121.4 billion. The jump is from appreciation of existing properties, new developments and increases in homesteaded property assessments.
The 2024 commercial property tax roll for Williamson County increased to $23.3 billion, up 14.2% from $20.4 billion last year. The commercial increases were led by the industrial sector, Lankford said.
“Much of the value increase in commercial is coming from the addition of the new Samsung plant in Taylor with an initial valuation as a partially complete structure of over $400 million,” he said.
What is the deadline to protest your appraisal?
Property owners have the right to file a protest after receiving their 2024 appraisal notice.
The deadline to protest is May 15, or 30 days after the notice was mailed, whichever is later.
However, before filing a protest, the Williamson Central Appraisal District encourages homeowners to review the appraisal information sent, which includes the comparable sales information included in most residential notices.
When deciding whether to protest, property owners with a homestead exemption should review their market value in comparison with the assessed value and determine if they have evidence to support a market value lower than the assessed value (capped value).
If there is no evidence to support a market value lower than the assessed value, a change in value will not reduce their property tax burden.
Owners who protest can do so through the appraisal district website at wcad.org/online-protest-filing.