Kyle homeowners could face 10 percent property tax increase this year

Even if the city’s tax rate remains stable, a Kyle homeowner who paid $947.69 in city property taxes in 2016 could face a bill of $1,042.22 this year, according to preliminary figures released today by the Hays Central Appraisal District. And that doesn’t include school district taxes, which comprise more than 50 percent of the typical property owner’s tax bill.

HCAD began mailing appraisal notices to property owners Monday.

"Hays County's overall preliminary market value for 2017 rose to $23.46 billion this year, up 10.04 percent from $21.32 billion in 2016," according to a HCAD statement released today. "Commercial and industrial property increased in value by 10.45 percent from $2.01 billion in 2016 to $2.22 billion this year. Residential multi-family property saw the biggest increase in value by 14.07 percent from $1.35 billion in 2016 to $1.54 billion this year. This increase was due to new construction, completion of new apartment projects and a strong demand for multi-family housing. Hays County added 2,085 new homes and 49 new commercial buildings to the appraisal roll for 2017. Total new improvements added more than $637 million to the taxable value for 2017. Across Hays County, the average market value for homes increased by 9 percent. Hays County continues to be one of the fastest growing counties in the country."

The average market value increase in Kyle was slightly higher than the county average — 9.9. percent, from $170,547 in 2016 to $187,202. More importantly, the taxable value on those properties saw a 9.97 percent increase from $164,873 to $181,318. That means even if the city maintained the current tax rate of $.5748 per $100 valuation, the average homeowner’s city tax bill could be $94.53 higher this year than last.

"How this year’s appraisals will affect Hays County homeowners’ tax bills remains to be seen," the HCAD statement said. "The county, cities, school districts and other taxing units will use the appraisal district’s values to set 2017 property tax rates and determine the amount of taxes property owners will pay."

The City Council has scheduled a workshop Saturday from 8 a.m. to noon for a preliminary discussion on the FY 2017-18 budget. It is expected City Manager Scott Sellers will propose a tax rate at that time, although he will not present council with his official budget proposal until its Aug 1 meeting, three days after a planned public release on Saturday, July 29 and shortly after HCAD releases its certified appraisal numbers.

Property owners who believe their properties were valued too high will have until the end of the month to file a protest to appeal those valuations to the HCAD in one of three ways: (1) in person at the HCAD’s district office in Kyle, 21001 North Interstate 35; (2) by phone at 512-268-2522 or (3) online at www.hayscad.com. Last year the Hays Central Appraisal District received 11,523 protests.