The Tarrant Appraisal District has voted 5-3 to change the frequency of property evaluations to every other year.
Despite the efforts of new TAD board directors Eric Morris, Matt Bryant, and Callie Rigney, who ran on limiting the county’s appraisals to once every three years, the two-year cycle for residential properties was passed on Monday.
Their efforts to institute a formal 5% residential appraisal cap on increases were slightly more successful, with the greater burden of proof based on market values for a given property now required to do so.
As outlined by Tarrant County Judge Tim O’Hare in a social media post, two more changes include freezing the 2024 appraisals for residential properties for one year and requiring TAD to consider earlier tax reductions in future appraisals.
Tarrant County Appraiser Joe Bobbitt said during the meeting that it would take some time before residents would see the impact of the reforms.
“Even though the market may be flat, that appraised value will go up until the appraised value equals market value,” he stated, according to KERA News.
However, some local stakeholders raised concerns over the changes during public comment. For instance, Tarrant County resident Chandler Crouch questioned whether the directors were acting too boldly.
“You made a lot of campaign promises, and they’re already on the agenda,” he said, per KERA.
“One thing that concerns me a little bit is how fast these decisions are going to be made and how the conversation is going to be made,” he added. “… I’m curious what kind of homework has been done to flesh these things out.”
Representatives of several local school districts, including Azle ISD and White Settlement ISD, also voiced concerns over what the changes might mean for their budgets. They objected to the reforms on the grounds that they could potentially negatively impact the districts’ debt ratings, bonds, and more, per KERA.
On the other hand, some local leaders, such as O’Hare, praised the board’s move.
“These monumental changes will ensure a more fair and transparent appraisal process for Tarrant County property owners,” O’Hare wrote in his post. “Taxpayers can still protest values, even with the freeze and two-year appraisal cycle. This a great start, but tax relief is still needed from the state and local taxing entities.”