The Community Impact is reporting that home values within the City of Austin (and Travis County) are on average up by 5 percent. Homes in Round Rock and Cedar Park (Williamson County) have lost value.
"Travis County’s average homestead appraisal rose from $281,623 in 2008 to $295,747 in 2009. The average value in the Williamson Central Appraisal District is $188,523 this year, compared with an average of $191,072 last year."
This is bittersweet to all of us living within Austin city limits, as our property taxes have all gone up too. My husband and I own a rental property which was our primary residence last year. This is the first year without a homestead exemption on it, and the property value is appraised at $35k more than it was last year, which is equaling out to about $1200 more per year in taxes. Ouch! Meanwhile, rents are going down in the area. We're going to try and dispute the appraisal, and have until May 31st to file a protest. Want to join us? You can download the protest form here.
And speaking of rentals, some friends of mine are subletting out their house for 1-2 months this summer (July & August 2009). It's in Travis Heights, which for my out-of-town readers is within walking/biking distance to downtown and everything on South Congress. It would be a great home base for anyone wanting to come here for a few weeks to get to know the town. See the ad here.