Home values in Hays County in Texas rose by 9.27 percent last year and the county’s overall preliminary market value for 2016 elevated to $21.69 billion, an increase of 12.79 percent compared with $19.23 billion in 2015, figures released by the Hays County Appraisal District (HCAD) indicate.
Chief Appraiser David Valle said the biggest increase came in multi-family housing, which jumped by 28.21 percent, from $1.17 billion in 2015 to $1.50 billion this year.
“This increase was due to new construction, completion of new apartment projects and a strong demand for multi-family housing,” Valle told the Wimberley View.
Commercial and industrial property grew in value by 14.3 percent, from $1.84 billion last year to $2.10 billion this year.
“Structures that were destroyed by the flood were removed from the appraisal roll,” Valle said. “Structures that suffered damage that was not repaired by January 1 remain at a damaged value. Property owners will have an opportunity to provide the district with information about their specific property if they choose to file a protest on the value of their property.”