Property-tax assessments dropped overall in Harris County this year, but a reader in Montgomery County writes in to brag about the remarkable rise in value her small neighborhood in The Woodlands experienced over the same period: Assessments for a group of 42 homes in the Village of Panther Creek went up by a minimum of 80 percent over last year’s values. To get a taste of the boom, our reader suggests, try a search for “Wedgewood Glen” on the MCAD website. The datasheets for any of the properties listed will show the appraisal history. “With increases like that, The Woodlands may be the hottest real estate market in the country,” she writes. And she says she’s ready to sell her 30-something-year-old home now — if she can get anyone to buy her home at the price the county assessor says it’s worth.
What’s behind the little Panther Creek boomlet? An owner of one of the affected properties reports being told by the local appraiser’s office that only one sale was recorded in the immediate area last year: The home pictured above, at 18 E. Wedgewood Glen. In 2010 it was appraised at just over $389,000 — but it sold in July for $733K.
- 18 E. Wedgewood Glen [HAR]
Ha, Montgomery County appraisals are a roll of the dice. I had a house built in the woodlands, it was Assessed at 10% of Appraised value for 3 years, they though it was still an empty lot. Then they updated it and was still only 50% of Appraised value. Also when you apply for a permit in Montgomery county, they ask you the value on the application and that’s what they go with until one day maybe someone decides to double check, which can take years.
Having said that, the above mentioned 80% increase in assessment is a fluke and is hardly indicative of ANY actual price increase.
I assume she is being sarcastic…
Glad someone likes to see their taxes increase, the man will need to get more out of each and everyone one of us to feed the hungry monster.
Doesn’t she realize this is just a way to raise taxes; without, you know, actually raising taxes.
Better be prepared to to fight that appraisal.
I hope they got their homestead caps at the lower value last year… 10% value increase/year is still painful though.
Yeah, I got a laugh out of this too..
House raising in value is great (if you plan on selling anytime soon, otherwise it’s pointless and more for vanity/HELOC [which all but don’t exist anyway]).
However, property values increasing on the TAX RECORDS = BAD BAD BAD
I love when I got to sell an investment property and someone says “That’s more than the tax value!”. Yes, correct, because I fight the stupid value every year. With property taxes as the LARGEST EXPENSE for most properties (other than debt service), the HCAD value is one of the most important things to look at. If it’s HIGHER than the sales price (or rather what you value a property at), it might be time to look at something else.