Dallas City Wire

Increasing property tax values across the state are directly linked to the amount of spending desired by local jurisdictions, as home value appraisals continue to rise.

While homeowning Texans can expect "sticker shock" when receiving their appraisals this year, some control over property tax rates does fall on residents, the Texas Taxpayers and Research Association (TTARA) said in a recent report.

"The simple truth is no matter what your appraisal, property tax bills would not be going up unless local jurisdictions wanted to spend more money," TTARA said in the report. "Regardless of your 2022 appraisal, right now your 2022 tax bill is zero. Your tax bill won't be set until the jurisdictions in which you reside decide how much money they want to raise and set their tax rates."

Plano's property tax grew 36.5% from $165.6 million to $226.0 million over the course of 2016-20, the Texas Public Policy Foundation said in a report. The combined population and inflation for the city grew by 7.2% during that time, which is a difference of 29.3%.

"Jurisdictions now must cut their tax rates to limit the amount of tax increases their property owners face," TTARA said. "Tax bills may still grow as values rise, but a 10% increase in one's appraised value no longer means a tax bill roughly 10% higher. That tax bill will now grow closer to 3 to 5%."

Appraised property values throughout Texas are expected to increase by 20% to 50% percent this year, with property values serving as a key component in the determination of property taxes, The Texan reported.