2020 TCAD APPRAISAL FREEZE
On February 12th the Travis Central Appraisal District announced that they won’t reappraise residential homes in 2020 stating there is not enough accurate data available. The Austin American Statesman reported that Travis Chief Appraiser Maya Crigler said the decision to not reappraise residential properties stems from a cease-and-desist letter from the Austin Board of Realtors (ABOR) for unauthorized use of data. In a recent email ABOR CEO Emily Chenevert explained that “ABOR’s actions in protecting homeowner’s privacy and the MLS in no way caused TCAD to be unable to update residential property appraisals.” She goes onto note that, “TCAD updated area appraisals for many years without the use of MLS data.”
Texas is a non-disclosure state and Texas Appraisal Districts are mandated by state law to set property values each year so we have yet to see how this decision will play out. I will continue with my annual appraisal protest research and communication in preparation for any reverse decision as well as strategic planning for 2021 protest efforts. I am encouraging every homeowner to check on exemption status for their properties as I am hearing reports of accidental removal of previously recorded exemptions. I am also encouraging clients to make plans for larger than expected appraisal values in 2021 as our 2020 low inventory and low interest landscape is pushing sold prices. So I will remind clients take time this May so you are not caught unprepared in 2021.