free online chicago dating sites The one good thing about property tax season is the related appraised value information that is shared by the local taxing authorities. On Tuesday, Dallas County, all the cities within Dallas County, and all the school districts within Dallas County will provide us with a glimpse of ad valorem property tax values, as estimated by the CAD.
my review here This info will not be earth shattering by any means. Anyone familiar with the local real estate market – residential and commercial – knows the market is red-hot. The Texas A&M Real Estate Center just reported earlier today that Texas currently has a statewide average of 3.7 months of inventory on the residential market, compared to a national average of 5.8 months. The Center estimates 6.5 months of inventory to be representative of a balanced market. Texas has a significant inventory problem with respect to SFR, and the consequential upward pressure on sales prices is obvious. The influx of companies relocating to the DFW area is putting pressure on commercial rents, and consequently values, as well. The Dallas Morning News real estate editor Steve Brown reported earlier this week that Class A office properties in the Uptown area of Dallas are fetching $52 rents, which is astounding. The value estimates released Tuesday will certainly be reflective of this as the CAD releases the info it has gathered from market sales and leases all over the county.
The estimates will be broken down by entity and appraisal discipline(residential, commercial, business personal property) compared to the same period from a year ago. Now granted, this is mass appraisal, not a collection of fee appraisals. But again the values are based on market information, and the can be used for comparing trends by city and school district. For example, you’ll be able to compare year over year residential total market value increases in Garland to those in Farmers Branch. And for commercial values(office, industrial, multifamily, and retail) for that same period in Dallas versus total commercial values in Addison. The problem with the info is that includes new construction. So if one entity has, for example, more new subdivisions than another, that new construction will be included in the market value increase of that entity. So property that in 2014 was merely unimproved land, could include 100’s of new homes in 2015, significantly increasing total market value of residential property in that entity. Obviously this would skew the numbers for anyone trying to purely determine value increases of say existing SFR from 2014 to 2015.
The info isn’t a stand alone guide to investing or appraisal by any stretch. But it does provide a big picture perspective of what’s going on in the various cities and ISD’s that call Dallas County home.